Last year, the Archon Group closed on its purchase of 17 buildings in the Fort Point Channel neighborhood. They held a big party and rechristened their holdings as “Boston Wharf”.
Since then, they have announced plans for renovating two of the buildings.
And, they’ve sold off (or are rumored to be selling) at least three of the 17 buildings.
Interesting move, and I’m not sure the significance, if there is any.
Perhaps it’s a wise move – the developer made a big splash, raising awareness and the appeal of the neighborhood, keeps the buildings that fit their needs, then sell off the rest, for more than what they paid.
They’re not having second thoughts, are they?
More: Normandy Takes Three Hub Assets for $75M – By Joe Clements, GlobeSt.com