FoxRock Buys Quincy Office Building at 78% Discount to W.P. Carey’s Cost

W.P. Carey sold a 132,000-square-foot office building at 1100 Crown Colony Drive in Quincy for roughly 78% less than it paid for the asset more than a decade ago. The sole tenant, Arbella Insurance, is preparing to move to the adjacent building.

Quincy-based FoxRock Properties paid $5.5 million for the property, according to an October 21 deed. W.P. Carey had bought 1100 Crown Colony for $25.5 million in 2013. FoxRock was also the party that secured Arbella's lease at 1200 Crown Colony, a 236,000-square-foot property it acquired in March 2024 for $6 million from Bridge Investment Group, which had paid $43 million in 2018.

The Crown Colony campus spans 135 acres and is approved for up to 22 office buildings, 14 of which have been built. It also includes a 500-unit apartment complex and a 465-room Marriott hotel. Other buyers have made similar moves at the park, including a 2024 purchase of 400 Crown Colony Drive at less than a third of its 2005 price.

Neither FoxRock nor W.P. Carey responded to requests for comment.

For investors, the deal shows how steeply office values have fallen in suburban Boston, and how repositioning vacant or underused campus buildings can attract capital.