Colliers represented the Church of Scientology who had purchased the abandoned 30,000+ square-foot structure and adjacent 2,858-square-foot lot in 2010, and after years of planning and design decided that a redevelopment would not properly accommodate its needs. The Church has since acquired a 100,000-square-foot property comprising 214, 218 and 226 Lincoln Street in Allston along the Massachusetts Turnpike (I-90) where it plans to have a grand opening for the new Boston and New England Church of Scientology headquarters projected for 2020. According to information publicly accessible on the Boston Planning and Development Agency’s website, Alexandra Partners’ $11 million purchase of the former Alexandra is the first step toward a planned full façade restoration to be followed by the construction of a new, approximately 150-room, 13-story boutique hotel with ground floor restaurant and café space, and a rooftop level bar/restaurant.
“Both parties are very pleased with the outcome and excited to move forward with their individual projects,” noted Colliers International Senior Vice President Christopher Sower. “Alexandra Partners has actively spent the last two years or so making its plans and designs known to the city and the community at large, so it will be exciting to watch that vision come to life in the months and years ahead.”
In addition to Sower, supporting transaction representatives from Colliers International’s Capital Markets group included Vice President Bruce Lusa, Assistant Vice President Jonathan Bryant, and Associate John Flaherty.
The Church’s legal counsel for the sale of the Alexandra and the redevelopment of the Church’s Lincoln Street property was David Suny and Michael McCormack of McCormack Suny LLC, Boston, Massachusetts.
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