Price for CRG Boston Deal: $32.2M
May 21st, 2007 By: Rich Miller
CRG West recently announced the purchase of buildings in Chicago and Boston to expand its national data center network. CRG West, a unit of The Carlyle Group, didn’t disclose the purchase price for the buildings, 427 LaSalle in Chicago and 70 Innerbelt in Boston. At the time, we noted that but media reports placed the sale price of 475 LaSalle at $34 million, or about $210 per square foot for the 162,000 square foot property.
This week the real estate brokers in the deal reported that Carlyle bought 70 Innerbelt from ING Clarion for $32.25 million, or $116.72 per square foot. 276,302 square foot building is more than 80 percent leased, with tenants including Internap Network Services (INAP), Hannaford Bros. Co. and the Museum of Fine Arts. The building currently has approximately 50,000 square feet of direct space available.