News: Front Section
Posted: July 8, 2022
Atlantic Capital Partners sells 10,565 s/f mixed-use building for The Grossman Cos.
Brookline, MA Atlantic Capital Partners has completed the sale of 7-11 Harvard St., a 10,565 s/f mixed-use retail/office asset that is 100% occupied by eight local and national retail tenants. The sale price was not disclosed.
Justin Smith, head of capital markets; Chris Peterson, vice president of capital markets; Sam Koonce, associate; Cole Van Gelder, analyst; and Ben Starr, partner, oversaw the transaction which had Atlantic Capital Partners exclusively advise The Grossman Companies (seller). This generational offering was acquired by RPT Realty, a publicly traded real estate investment trust.
7-11 Harvard St. is situated in Brookline Village and serves one of the most affluent communities in the greater Boston metropolitan area. The immediate trade area has demographics drawing from one of Metro Boston’s most desirable urban environments.
Smith said, “These jewel-box assets are some of the most desirable properties in the city given the durable cash flow and irreplaceable positioning.”
The city is in one of the region’s most unique neighborhoods given its proximity to many of the city’s most prominent institutions. This location provides easy access to surrounding destinations like Boston University and Boston College in addition to being within walking distance of the Longwood Medical cluster. Koonce said, “Being within walking distance of two MBTA stations, the community has exceptional access to all of Downtown Boston, Back Bay and Fenway.” 7-11 Harvard St. is one of the more quintessential properties along Harvard St. and will serve as a staple of the community long into the future.
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