Boston Properties and Hines Close on Record Land Sale for Transbay Transit Tower Parcel

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    By RealEstateRama -

    Boston, MA – March 27, 2013 – (RealEstateRama) — Hines and Boston Properties (NYSE: BXP) announced today that it will ceremonially break ground to celebrate the acquisition of 101 First Street, a land parcel sold by Transbay Joint Powers Authority (TJPA) for approximately $192 million. The sale of the 50,000- square-foot parcel closed today at nearly $4,000 per land foot. The firms are now set to develop the Transbay Transit Tower

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