Newmark has successfully completed the sale of 200 State Street in Boston, Massachusetts to Carr Properties for $222 million. On behalf of GLL Real Estate Partners, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Director James Tribble of Newmark’s Boston Capital Markets team, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of 200 State Street’s 304,178-square-foot office condominium and associated 120-space parking garage.
200 State Street is presently 96 percent leased to a diverse 21-tenant roster anchored by Beacon Health Options, TD Bank, FTI Consulting, Beacon Capital Partners and TIFF Investment Management. The institutional-quality asset benefits from significant base building and tenant improvements completed throughout the past 10 years.
“200 State Street’s compact building core facilitates highly efficient, flexible floor plates averaging 20,000 square feet in size,” said Pullen. “Combined with its prestigious State Street address and panoramic city and Boston Harbor views, the asset is uniquely able to accommodate a variety of modern tenant requirements.”
Featuring on-site access to the MBTA Blue Line and located within a five-minute walk of the MBTA commuter ferry at Rowes Wharf, 200 State Street boasts an exceptional location with respect to all major forms of transportation. The asset is also well positioned between South Station and North Station, Boston’s primary transit hubs. Finally, Interstates 93 and 90 (Massachusetts Turnpike) are easily accessible from 200 State Street’s on-site parking garage.
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. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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