BOSTON— In a headline-making downtown Boston transaction, Thibeault Development LLC, led by founder William Thibeault, has acquired 11–17 Avenue de Lafayette for $9.2 million—less than half of the building’s previous sale price of $23 million in 2021.
The acquisition followed a highly competitive call-for-offers process led by JLL’s Scott Carpenter and Brooke Howard, with Thibeault ultimately securing the winning bid.
The five-story, 58,000-square-foot property sits in a desirable downtown location and includes a gated parking lot. Despite recent market challenges affecting Boston’s office sector, the building has benefited from more than $7 million in capital upgrades over the past several years. Improvements include:
- A redesigned lobby and main entrance
- A boutique-style fitness center with spa-quality locker rooms
- New bike storage
- A high-efficiency HVAC system
- WELL Health-Safety certification.
Thibeault praised these enhancements, noting that the building’s bright, modern environment supports his long-term vision for the property. He plans to open a Thibeault Development satellite office on the first floor and is actively evaluating multiple strategies for the building’s future positioning.
The property’s full vacancy, he added, offers unusual flexibility in today’s market—providing a clean slate for redevelopment, repositioning, or adaptive reuse.
Thibeault brings more than 25 years of expertise in transforming underutilized commercial assets into vibrant new uses. His firm has completed numerous office-to-residential conversions throughout Boston, including the 57-unit redevelopment at 40–44 Bromfield Street, as well as projects at 630 Washington Street, 153 Milk Street, 101 Arch Street, and others across Massachusetts.
The significantly discounted purchase of 11 Avenue de Lafayette underscores shifting dynamics in Boston’s office market—and positions Thibeault Development to shape one of downtown’s next major reinventions.
