Boston Properties’ broker markets FAO Schwarz space

Boston Properties President Doug Linde talked about buying out some of the GM Building’s under-market leases, including that of anchor retail tenant FAO Schwarz, after Boston Properties’ $2.8 billion purchase of the building last year. Cushman & Wakefield’s C. Bradley Mendelson, Boston Properties’ broker, is now marketing the 66,465-square-foot FAO Schwarz space, which is spread across three floors, according to the New York Post. The retailer reportedly now pays just over $70 per square foot for the space. FAO Schwarz’s lease ends in 2012 and it appears to be shopping for a smaller store.