The John Hancock building rises 62 storeys in the Boston skyline and boasts roughly 1.7 million square feet of rentable office space, according to the figures of Boston Properties itself, a leading real estate investment trust.
A joint venture between affiliates of Normandy Real Estate Partners and Five Mile Capital Partners had previously owned the property, which affords a panoramic view across Boston Harbour and its central financial district.
As its name might suggest, Boston Properties counts the Massachusetts capital among its primary areas of activity, but the investment trust also has considerable office space assets in Washington DC, San Francisco, New Jersey and Midtown Manhattan.
Indeed, with the purchase of another enormous office space tower on the East Coast, the group has further affirmed its position as one of the foremost real estate investors in America.
Explaining some of the details of the transaction, a statement from Boston Properties said: “The purchase price consisted of approximately $289.5 million of cash and the assumption of approximately $640.5 million of indebtedness.”
“The assumed debt is a securitized senior mortgage loan that bears interest at a fixed rate of 5.68 per cent per annum and matures in January 2017.”
Over in Chicago, meanwhile, another major American office space owner, the Irvine Company, has reportedly agreed to a deal to acquire the 42-storey Hyatt Center in the West Loop area of the city’s central business district.
Editor’s notes: As part of the deal, it was agreed that the name ‘Hancock Tower’ would expire along with John Hancock’s – the multifaceted insurance and financial company for which the building was built – lease in 2015.
The name change from ‘John Hancock’ to ‘200 Clarendon’ took place in mid-2015.
In August 2024, BXP (formerly Boston Properties) announced that its tenant, Bain Capital, had signed a major lease renewal and expansion for its global headquarters at 200 Clarendon Street. The largest tenant in New England’s tallest building, the private investment firm committed to 378,000 square feet of office space, up from their previous 315,000 square feet.
In June 2026, it was noted in the Massachusetts press that, despite the 2015 name change, the tower and surrounding area still refer to the building as the John Hancock Tower.