BOSTON — DivcoWest, a DivCore Capital company, has announced its acquisition of 399 Boylston Street, a 245,000-square-foot Class A office building located in Boston’s Back Bay. The property, which is more than 90% leased, underscores the firm’s long-term commitment to Boston’s innovation economy and the enduring strength of its urban office market.
Positioned at the intersection of Boston’s historic and business districts, 399 Boylston Street blends classic architecture with modern amenities. The building recently underwent $35 million in tenant-focused upgrades, including a full-service fitness center, yoga studio, bike storage, locker rooms, showers, and a salon. Its prime location offers immediate access to the MBTA Green Line and is within walking distance of the Red and Orange Lines, connecting tenants to key destinations across the city.
“We believe Boston continues to be one of the most resilient and desirable office markets in the country,” said Michael Falvey, Senior Director and Head of Boston Acquisitions at DivcoWest. “399 Boylston Street exemplifies the type of high-quality, well-located assets we seek, properties that deliver a best-in-class tenant experience in markets with enduring fundamentals. We see tremendous long-term value in this investment and in the continued vibrancy of the Back Bay and the city of Boston.”
Surrounded by cultural landmarks, green spaces, and high-end retailers such as Hermes, Bottega Veneta, Bulgari, and Valentino, 399 Boylston offers panoramic views of the Boston Common, Public Garden, and the Charles River. Its location provides tenants with access to an array of premium dining, hospitality, and residential options, fostering a vibrant workplace environment.
“The acquisition of 399 Boylston by DivcoWest underscores strong investor conviction in the strength of the Back Bay submarket,” said Edward Maher, Boston Capital Markets Executive Vice Chairman at Newmark, which handled the sale. “This asset’s recent capital improvements and irreplaceable location position it as one of the most attractive office offerings in the city.”
The acquisition expands DivcoWest’s footprint in Boston and aligns with the firm’s strategy of investing in top-tier properties within innovation-driven markets along the East Coast and beyond.
Newmark represented the seller in the transaction, and JLL will continue to serve as the exclusive leasing agent for 399 Boylston Street.
