Apple Buys Boston Back Bay Store Building for $88 Million
Apple just bought its store building at 815 Boylston Street in Boston. The $88 million deal wrapped up Wednesday for the eye-catching three-story building in Back Bay.
Since it last sold in 2012, the building’s value shot up by $60.5 million. At that time, Tribeca Holdings paid Heritage Legacy LLC only $27.5 million for the property.
Since 2008, this glass-fronted store has welcomed countless shoppers. Its beautiful spiral staircase links three floors of shiny displays and constant activity.
This purchase shows how hot Back Bay’s real estate market is. In this sought-after Boston neighborhood, property values keep hitting new highs every year.
Few tech stores anywhere see this much foot traffic. For 15 years, this New England flagship has drawn people from all over the region and beyond.
By buying this spot, Apple shows it still believes in physical stores. They’ve added another owned store to their growing list of retail properties.
Located between the Public Garden and Prudential Center, this Boylston Street store sits among the city’s best-known landmarks. Popular retailers fill both sides of this packed street.
For now, nothing changes at the store. City records show regular operations will continue during this ownership change.
