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Church sells building to Berklee music school
Dear
Fellow Members and Friends,
I
thought you would be interested in the following news item which was
shared with employees today.
Warmly,
Nathan
Talbot
Clerk
of The Mother Church
==========================
EMPLOYEE
BULLETIN April 17, 2009
==========================
from
Real Estate Planning & Operations:
Announcing
Berklee College of Music’s purchase of 154-174 Massachusetts
Avenue
from
The First Church of Christ, Scientist
The
following is a press release announcing the Church’s sale of
154-174 Massachusetts Avenue to Berklee College of Music. We wanted
you to be aware of the sale which closed today, April 17, 2009 .
Berklee has been a tenant in these buildings for many years, and we
are grateful for the long-standing relationship we have enjoyed with
the college.
BOSTON
-- Berklee College of Music and The First Church of Christ, Scientist
, today announced Berklee’s purchase of 154-174 Massachusetts
Avenue , a 13,300 square foot parcel located between Belvidere and
St. Germain Streets. The buildings are presently leased to Berklee,
McDonald’s Restaurant Corporation, and Arirang Restaurant.
“We
very much appreciate the Church agreeing to sell this property to the
college,” said Roger H. Brown, Berklee president. “This
is a strategic acquisition for the college because of the property’s
location in the center of our campus, and its eventual redevelopment
will help to meet our pressing space needs. We look forward to
consulting with the Boston Redevelopment Authority and the community
advisory task force working with us in our ongoing Institutional
Master Planning process as planning for the property proceeds. We
are grateful to the Church for their willingness to consider our
request to sell us the property, and to accommodate us in this way.”
“Berklee
approached us about buying this property where they have leased space
from us for more than a decade,” said Margaret Rogers, Chair of
the Christian Science Board of Directors of The First Church of
Christ, Scientist . “This parcel is not immediately adjacent to
the Christian Science Plaza and is not part of the Church’s
long-term plans. We recognized its importance to Berklee, and were
pleased to work with them.”
Berklee
intends to redevelop the property in accordance with its
Institutional Master Plan, though specific plans for the site, and a
timetable for implementation, remain to be determined.
McCall
& Almy represented Berklee in the transaction and Leggat McCall
Properties represented the Church. The sale price was $6.25 million.
For
more information about Berklee College of Music: www.berklee.edu
and for The First Church of Christ, Scientist :
www.churchofchristscientist.org/bostonactivities/tfccs.jhtml.
4.20.09
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