Just read about this. The Boston Design Center changes hands. Changes in how business is done already happening in NY and LA. Wonder what this means for Boston? Rumors have been flying for some time now. Time will tell!
By Casey Ross, Globe Staff
"Vornado Realty Trust of New York has sold the Boston Design Center as part of a portfolio of similar properties across the country, the company reported Monday. The transaction has not been finalized, and Vornado has not disclosed the buyer or the purchase price for the design center. But the company said Monday that it sold the eight-story building in the Seaport District and other properties for a total of $228 million.
Vornado purchased the design center in 2005 for about $96 million.
The building houses 87 showrooms and is known as New England’s largest facility focused on home design. Also changing hands in the deal were the Washington Design Center, the LA Mart, and the Canadian Trade Shows.
Vornado remains co-owner of the former Filene’s property in Downtown Crossing, where it has teamed up with Millennium Partners to propose a 600-foot tower with residences, stores, and offices."