Oxford Properties Acquires Boston’s One Marina Park for $435 Million

The 18-story tower, which serves as a cornerstone of the Fan Pier development, is currently 99% leased to high-credit tenants. Represented by JLL’s Capital Markets group, the sale to Oxford Properties highlights a growing trend among institutional buyers: prioritizing assets with locked-in cash flow and significant barriers to entry. The property, delivered in 2010, boasts LEED Gold and WiredScore Platinum certifications, alongside floor-to-ceiling harbor views that remain difficult to replicate in the current market.

Scott Carpenter, Managing Director at JLL, noted that the asset provided exactly what strategic buyers are hunting in 2026: durable, in-place cash flow combined with meaningful mark-to-market upside. Since 2019, the Seaport submarket has seen a 22% increase in Tier 1 rents, fueled by a scarcity of new supply. With a 48% rent gap required to justify new construction, the area remains one of the most difficult U.S. markets to develop, effectively insulating existing trophy properties like One Marina Park Drive from immediate competition.