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Practice Management > Building Your Business

Hancock To Sell Home Office Buildings

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NU Online News Service, March 14, 2003, 6:47 p.m. EST – John Hancock Financial Services Inc., Boston, says Beacon Capital Partners Inc., Boston, has agreed to buy three of its well-known home office buildings for $910 million.

Beacon will lease the space Hancock currently occupies back to Hancock for terms of 10 to 15 years.

The buildings are the Hancock Tower, at 200 Clarendon St.; the Stephen L. Brown Building, at 197 Clarendon St.; and the Berkeley Building, at 200 Berkeley St.

The buildings have about 3 million square feet of office space.

Hancock says it will include some of the $570 million in gains from the sale in its operating income.


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