David Gilbert Of Clarion Partners Sells Office Tower At 1 Marina Park Drive For $435M
1 Marina Park Drive
$435,000,000
$878/SF
Building Size
495,000 SF
Asset Type
Office
Closing
Jul 29, 2026
AI
A 495,000 square foot office tower located at 1 Marina Park Drive in Boston, MA is currently under contract with a price of $435,000,000, which equates to approximately $879 per square foot. The transaction reflects a low-7% cap rate, establishing a significant benchmark for office valuations in the Boston market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $435,000,000
- Square Footage: 495,000
- Address: 1 Marina Park Drive
- Market: Boston, MA
- Price per Square Foot: $879
- Cap Rate: Low-7%
- Seller: David Gilbert - Clarion Partners
- Brokers: Coleman Benedict & Riaz Cassum - JLL
The individuals involved in this transaction include David Gilbert representing the seller, Clarion Partners, and brokers Coleman Benedict and Riaz Cassum, who represent the listing through JLL.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93