Newmark Arranges Sale of Mixed-Use Asset, 343 Congress Street, in Boston’s Seaport District

April 25, 2025 9:00 AM

Newmark announces the company has arranged the sale of 343 Congress Street, a mixed-use property in Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, along with Boston Capital Markets Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Executive Managing Director James Tribble, Senior Managing Director Samantha Hallowell and Associate Director William Sleeper, represented the seller, BGO, and procured the buyer, North Colony Asset Management.

The 114,677-square-foot 343 Congress Street’s office component is anchored by Chewy, the largest e-commerce retailer of pet products in the United States. The five-story building’s street level is anchored by two popular restaurants: The Smoke Shop, known for its barbeque, and Pastoral, known for its artisan pizza.

“343 Congress Street generated exceptional investor interest due to its high-quality brick-and-beam construction and prime location in Boston’s innovation district,” said Pullen. “While naturally supply-constrained, this product type is uniquely suited to appeal to modern creative office users. The bidding process attracted significant institutional capital, signaling the return of demand for trophy-quality office properties like 343 Congress Street.”

343 Congress Street is strategically positioned within the Seaport District’s Fort Point neighborhood, an amenity-rich area within walking distance of the city’s South Station transit hub.

“North Colony has been patiently awaiting the right entry point to begin investing in top-notch downtown office assets,” said Brian Antonellis, Partner at North Colony Asset Management. “343 Congress Street is a property we have wanted to own since we began investing in Boston over 20 years ago. Its institutional floor plates, central location in the heart of the Seaport’s Fort Point District and quality finishes—highlighted by Chewy’s tenancy—made it the perfect fit for our growing, vertically integrated platform.”

Newmark Financial Analyst Grady Zink provided support for the transaction.

About North Colony Asset Management
North Colony Asset Management is a real estate investment and operating platform with a portfolio of 20 properties totaling approximately 2.7 million square feet, primarily concentrated in the Greater Boston area. The firm focuses on acquiring and repositioning well-located assets with long-term potential, leveraging its local market expertise and hands-on ownership approach to enhance value and performance across its holdings.

The acquisition of 343 Congress Street marks the first investment by North Colony’s Fund 9, a fully discretionary vehicle raised in 2024 to target high-quality opportunities within Boston and Greater Boston submarkets. This latest acquisition reflects North Colony’s continued strategy of investing in assets with strong tenancy, long-term growth potential, and strategic relevance to the evolving needs of tenants and communities. North Colony is committed to long-term ownership and enhancing value across its portfolio.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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