Boston Business Times – Taurus Investment Holdings, LLC announced the sale of 22 Batterymarch Street, Taurus’ home office. Originally built in 1890’s and once serving as the Harvard Club, this jewel box building was converted into a multi-tenant office asset in the 1980’s.
The 35,000 square foot 7-story property was acquired vacant and was fully renovated by Taurus in 1998 and has since enjoyed a long history of stabilized occupancy. Its location in Liberty Square, in the heart of Boston's Financial District, and its charm make this building a very attractive home for small and medium sized companies. The property was sold to Kendall RC, LLC for $10.5 million.
“22 Batterymarch Street has served as Taurus’ headquarters since 1998. The buildings’ architectural charm and central location helped to maintain its occupancy level near 100% during Taurus’ ownership tenure. With the resurgence of the Financial District’s Class-B office market, Taurus felt this was a great opportunity to take advantage of a strong market and sell this “boutique” asset,” said Taurus CEO Peter Merrigan.
Taurus was founded in 1976 and has evolved into a global owner-operator and value-add developer of both directly managed and joint venture assets with offices throughout the US, Canada, Argentina, Turkey, UK and Germany. Taurus has purchased and sold more than 20 million square feet of residential, office, industrial, retail, hotel and other commercial real estate assets since its inception. Presently the firm has a portfolio that is valued at more than $2 billion.