ConDig (14-Dec-21). Swedish developer and contractor Skanska has spun off its office building Two Drydock in Boston for $234.5 million.

The company said the deal will be logged by Skanska USA Commercial Development in the fourth quarter of this year. The transfer ownership of the property is effective immediately.

Two Drydock is a 13-story, 21,800-square-meter, office building developed by Skanska . It features about 650 square meters of ground-floor retail, 150 above-ground parking spaces and a 930-square-meter outdoor plaza.

The building, which broke ground in June 2018, was Skanska’s sixth commercial development in Boston and fourth development in the Seaport.

Since 2009, Skanska has invested a total of $3.2 billion in commercial and multi-family projects, creating more than 1 million square meters of sustainable and community focused developments in select US markets.

In October, Skanska said it would invest $216 million in the 17xM office development project in Washington, DC.

In July, Skanska signed a $248 million contract to upgrade an existing corporate campus in Long Island, New York.
The company said it had sold off its US multi-discipline design firm PCI Skanska Inc (PCIS) for $20 million in June.

In May, Skanska made a record investment in its biggest office development project in Bellevue, Washington. It plans to develop and build a 25-story, 50,300 square meter office tower called The Eight for an investment value of $476 million. 

In April, a joint venture led by Skanska landed a $308 million contract for a Signia by Hilton hotel in Atlanta, Georgia.

Skanska secured a $73 million contract for a multi-purpose event center in Clarksville, Tennessee, also in April.