Newmark announced today the successful completion of the sale of 100 Summer Street in Downtown Boston, Massachusetts on behalf of Blackstone and EQ Office to Rockpoint Group. Vice Chairman Edward Maher and Executive Managing Directors Matthew Pullen and 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 the mixed-use trophy tower in conjunction with Newmark Executive Managing Director David Martel and Senior Managing Director Timothy Bianchi.
In addition, Newmark’s Boston Debt & Structured Finance team - which is led by Executive Managing Director David Douvadjian, Sr. with Senior Managing Director Brian Butler, Managing Director Timothy O’Donnell and Director David Douvadjian, Jr. - represented the buyer in arranging financing for the transaction.
100 Summer Street comprises a 32-story tower with 1.1 million square feet of office/retail space and a below-grade parking garage with 102 parking spaces.
“Significant capital improvements have fully transformed 100 Summer Street into a modern workplace with a brand-new lobby and a top-tier amenity center featuring a coffee bar, gaming areas and a fitness center,” said Maher. “These upgrades have enabled the property to appeal to premier ‘innovation economy’ tenants, generating an impressive 600,000 square feet of leasing velocity throughout the past three years.”
100 Summer Street facilitates superior commuter access, located within a two-minute walk of South Station, Boston’s primary transit hub, and swiftly accessible to Interstates 90 (Massachusetts Turnpike) and 93.
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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