State Street building remains empty

State Street building remains empty

One Lincoln Street—better known as the State Street Financial Center—is still on the market. The building was put on the market nearly 20 months ago by New York-based real estate group Fortis Property for $1.15 Billion.

Brokers believe the reason why the property has failed to sell is likely due to its price. In addition, commercial demand in the Boston area is being met by a multitude of new development projects.

The Boston Business Journal reports that Fortis had a buyer lined up last summer, but the deal fell through for unknown reasons. The company should make a decision soon on how to proceed with the sale.

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