Newmark announced today the $22 million sale of 300 Massachusetts Avenue in Boston, Massachusetts on behalf of Marcus Partners to Northeastern University. Co-Head of U.S. Capital Markets Robert Griffin and Managing Director Michael Greeley of Newmark’s Boston Capital Markets group oversaw the transaction of the 45,192-square-foot asset in conjunction with Newmark Senior Managing Director Jason Cameron and Managing Director Ali Cavanaugh.
Also known as Horticultural Hall, 300 Massachusetts Avenue is presently 100 percent leased to a four-tenant roster highlighted by 829 Studios and Small Army/FINN Partners, two marketing/advertising agencies that operate their headquarters facilities on site, and the Museum of Fine Arts, which operates its William Morris Hunt Memorial Library on site.
“300 Mass Ave is an iconic Back Bay property, combining historic character and a thriving tenant base,” said Greeley. “We congratulate both Marcus Partners and Northeastern University on an excellent outcome for this asset.”
Strategically situated along the Huntington Avenue institutional corridor, also known as the “Avenue of the Arts,” 300 Massachusetts Avenue benefits from immediate proximity to a wealth of premier colleges, art museums and cultural institutions. In fact, Northeastern University is located within just a five-minute walk of the property. 300 Massachusetts Avenue also benefits from on-site access to the MBTA Green Line’s Symphony station and walkability to the MBTA Orange Line’s Massachusetts Avenue station.
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 18,000 professionals operate from approximately 480 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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