Newmark Capital Markets has successfully completed the sale of 32-44 Boston Post Road West in Marlborough, Massachusetts to a private equity fund managed by Crow Holdings Capital Partners, L.L.C. On behalf of The Gutierrez Company, Newmark Capital Markets Vice Chairman Geoffrey Millerd, Managing Director Justin Smith and Financial Analyst Samantha Torto of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the 21,754-square-foot retail asset.
Presently 100 percent leased, 32-44 Boston Post Road West features a service-oriented rent roll including two dining options (99 Restaurant & Pub and Jersey Mike’s Subs), a liquor store (Marlboro Wine & Spirit Co.), a fitness studio (Orangetheory Fitness) and a healthcare clinic (AFC Urgent Care).
“32-44 Boston Post Road West enjoys dominant positioning along a heavily trafficked retail corridor in Marlborough, one of the strongest mixed-use suburbs in metropolitan Boston,” said Smith. “The town offers an attractive combination of best-in-class office tenancy complemented by recently completed high-end residential projects and the new Apex Entertainment Center.”
Major employers in Marlborough include Boston Scientific, Dow Chemical, GE Healthcare, Hologic, Ken’s Foods, Raytheon, Sunovion Pharmaceuticals, TJX Companies and Quest Diagnostics. 32-44 Boston Post Road West is therefore surrounded by a robust daytime population of 50,900 people within just a three-mile radius.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.