Newmark has successfully completed the $2.4 million sale of 140-150 North Street in Hingham, Massachusetts to Cayton Capital Advisors, LLC. On behalf of Giarrusso Realty LLC, Vice Chairman Geoffrey Millerd, Senior Managing Director Justin Smith, Director Paul Penman and Senior Financial Analyst Christian Brannelly of Newmark’s Boston Capital Markets team - which is led by Co-Head of U.S. Capital Markets Robert Griffin - oversaw the transaction of the 4,390-square-foot retail asset.
Located in the heart of downtown Hingham, 140-150 North Street is presently 100 percent leased to two long-term tenants: Square Café, a high-performing restaurant, and La Petite Maison, a high-end boutique retailer.
“The ability to acquire a piece of Hingham’s historic downtown rarely becomes available,” said Smith. “As expected, this generational opportunity generated significant private capital interest.”
140-150 North Street is situated just one-half mile from the Hingham Harbor in a picturesque town center featuring a dense cluster of locally renowned restaurants, cafés, boutiques and service retailers. This prime retail location boasts one- and three-mile population counts of 4,900 and 36,400 people, respectively, with corresponding average household incomes of $171,700 and $141,300.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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