October 10, 2023 9:00 AM
Newmark announces the sale of 855 Boylston Street, a mid-rise office/retail asset located in the Back Bay neighborhood of Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen and Senior Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, a global investment manager, and procured the offshore buyer, 855 Boylston Inc. The transaction is the largest office sale completed in Boston’s Back Bay in more than three years*.
Totaling 142,765 square feet across 11 stories, 855 Boylston Street is 100% leased to a diverse roster of 13 tenants. The asset features an updated lobby and glass curtainwall, multiple outdoor terraces and 32 below-grade parking spaces.
“855 Boylston Street is part of an exclusive competitive set that consistently outperforms the overall Back Bay submarket,” said Hallowell. “This transaction represents the first time that this high-performing asset has changed ownership in nearly a quarter-century.”
In November 2022, 855 Boylston Street was recognized by the Building Owners and Managers Association (BOMA) Boston and won a coveted The Outstanding Building of the Year (TOBY) award in the 100,000- to 250,000-square-foot building category. The asset is also Energy Star certified (83/100) and WELL Health-Safety rated.
*According to an analysis of data from MSCI Real Capital Analytics
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 year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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Newmark Completes Sale of 855 Boylston Street in Boston, Massachusetts to Offshore Investor
A global investment manager sells the Back Bay office/retail asset to 855 Boylston Inc. in the neighborhood’s largest office sale in more than three years*.