Brisk bidding for Boston’s iconic Hancock Tower may signal the commercial property market rebound. With major players reportedly bidding in the $925 million range, the sale will far exceed the $660 million April 2009 purchase price paid by Normandy Real Estate Partners and Five Mile Capital partners in April 2009. 

The April 2009 sale was well below the $1.3 billion price paid by Broadway Partners in 2006 and was seen as one of the grimmest indications of market chaos in the commercial properties markets.

The brisk bidding at the $925 million level by at least 10 bidders is seen as a strong indicator that commercial values are regaining strength. The bidders reportedly include Beacon Capital Partners, Boston Properties, and Vornado Realty Trust. Normandy intends to retain a portion of the property but details are unclear.