October 21, 2021 1:00 PM
Newmark announces the $43.5 million sale of 176 Federal Street, an office/retail asset located in Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Federal Street 176 Holdings, Inc., and procured the buyer, FoxRock Properties.
Comprising 76,698 square feet, 176 Federal Street is anchored by the corporate or regional headquarters of law firm Rich May, P.C., investment bank Capstone Partners and financial advisor United Gulf Management as well as a street-level retail branch of Boston-based Santander Bank. Other retailers include chocolate shop Au Chocolat and restaurant Casa Razdora.
“176 Federal Street is part of a select and coveted set of ‘jewel box’ office/retail buildings in downtown Boston,” said Maher. “The asset blends historic architecture with modern tenant buildouts in a high-profile location just steps from one of the city’s primary transit hubs.”
176 Federal Street is situated adjacent to a pedestrian plaza that serves as a major artery for commuters and visitors traveling from South Station into the heart of Downtown Boston.
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. Newmark generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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