NGKF Capital Markets has successfully completed the sale of 313 Washington Street in the Boston suburb of Newton, Massachusetts to Grander Capital Partners, LLC for $15 million. The NGKF Capital Markets Boston team, led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher and Executive Managing Director Matthew Pullen, in conjunction with Newmark Grubb Knight Frank Senior Managing Director Dan Krysiak, leasing agent for the property, oversaw the transaction of the office and retail asset with a below-grade parking garage on behalf of Taurus Investment Holdings, LLC.
Totaling 81,052 square feet, 313 Washington Street is presently 90 percent leased to 24 tenants and anchored by a diverse mix of analytics, technology, law and software firms. Its complementary street-level retail component is highlighted by a popular sports bar (Buff’s Pub), an ATM (Bank of America), a dentist’s office (Newton Corner Dental) and a custom embroider (EmbroidMe).
“313 Washington Street features a highly-desirable location in the heart of Newton Corner, a premier price alternative to Downtown Boston’s soaring rental rates,” said Pullen. “Consequently, the property boasts exceptional historic occupancy, consistently more than 90 percent leased.”
Located directly adjacent to an MBTA bus stop and immediately off Interstate 90 (Massachusetts Turnpike), 313 Washington Street is strategically situated just 10 miles from Downtown Boston.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.