BOSTON— The Davis Companies announced the acquisition of four office buildings in Boston’s Fort Point neighborhood, expanding its commercial real estate holdings in the city. The properties were acquired from global investment manager Nuveen.
The portfolio includes 34, 38, and 44 Farnsworth Street, along with 332 Congress Street, and totals 151,714 square feet. The buildings are currently 94 percent leased. Financial terms of the transaction were not disclosed.
Located near the Fort Point Channel and the Seaport District, the properties benefit from access to nearby retail, dining, and transportation options. All major transportation modes, including water taxi service, are within one block of the buildings. South Station and Boston’s Financial District are approximately a five-minute walk, while Logan International Airport is located less than one mile away. The properties also offer convenient access to Interstate 90 and Interstate 93.
The acquisition marks Davis’ return to the Fort Point neighborhood following the sale of 24 Farnsworth Street and Tower Point at 27 Wormwood Street in 2015. It also represents the firm’s first investment in Boston office assets in nearly a decade.
“For 50 years, Davis has invested in Boston, driven by our belief in the long-term strength of the city’s commercial real estate market,” said Stephen Davis, President of The Davis Companies. He noted that Fort Point continues to be an important mixed-use neighborhood within the city.
The acquisition supports Davis’ broader investment strategy in the Boston waterfront area. The firm’s existing portfolio includes the Omni Boston Hotel at the Seaport, which opened in 2021, and 88 Black Falcon Pier, a 360,000-square-foot industrial and research and development property acquired in 2017.
Nuveen acquired the Fort Point portfolio from Clarion Partners in 2016 and invested capital in building and tenant improvements during its ownership. Brendan Graham, Director of Asset and Development Management at Nuveen Real Estate, said the firm was pleased with the growth of the assets during its ownership period.
Fort Point and the surrounding Seaport area continue to attract life sciences companies, global organizations, and startups, supported by nearby amenities, transportation access, and mixed-use development.
