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Surprise Sale of Beacon Properties Could Help Boston Developers, Landowners.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, September, 1997 by Kindleberger, Richard
Sep. 17--It may be a loss for Boston, but some local developers and property owners said yesterday the surprise sale of the city's most prominent real estate company could, for them, be good news indeed.
Having Beacon Properties Corp. taken over by Chicago-based Equity Office Properties Trust in an agreement announced Monday could open up new buying and development opportunities for local companies, they suggested.
The thinking goes like this: Once the ownership of Beacon moves from Boston to Chicago, it won't have the Boston focus that Beacon does. Besides, Equity has not pursued development to the extent Beacon has and is not expected to after the merger.
Then there's the question of size. After the merger, Equity is expected...
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