By Katie Burke
CoStar News
Summary: The One Lincoln St. office tower in Boston was sold for $400 million at a foreclosure auction, a sharp decline from its $1 billion valuation in 2022. The building’s previous owner, Fortis Property Group, struggled with high vacancy rates after losing State Street Corp. as a tenant. Despite attempts to lease space, including a deal with HarbourVest Partners, the tower remains less than half leased. This sale reflects a broader trend of declining office building values nationwide, as vacancy rates rise due to shifts in work patterns post-pandemic. The new owners, BDT Capital Partners and DivcoWest, plan to capitalize on recent renovations aimed at attracting tenants.