Boston’s 727,000-square-foot John W. McCormack Building is among 26 federal properties being considered for sale nationally, the Public Building Reform Board said last week. The Boston Business Journal reported that the property, which houses the Environmental Protection Agency and U.S. Bankruptcy Court among other tenants, is a property that could be repurposed, similar to about one dozen downtown Boston buildings undergoing conversion into apartments.
The PBRB didn’t provide occupancy or utilization rates for the McCormack Building but said the 26 buildings being considered for sale are vastly underutilized. They average 80% occupancy because of existing leases but are only 25% utilized.
The McCormack Building is one of two New England properties being considered for sale, along with the 24,000-square-foot U.S. Custom House in Portland, ME. Boston has other major federal buildings that haven’t been listed for potential sale, including the O’Neill building next to North Station and the JFK building at Government Center.
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