News: Front Section
Posted: February 7, 2020
NB Development sells 15 Guest St. at Boston Landing for $18.35m
Boston, MA JLL Capital Markets has arranged the $18.35 million sale of and the $12.89 million acquisition financing for 15 Guest St., a 115,551 s/f, two-story retail and industrial urban condo within the Boston Landing mixed-use development.
JLL represented the seller, NB Development; procured the buyer, an affiliate of R.J. Kelly Co., Inc.; and placed the acquisition financing with Cambridge Trust Company.
Constructed in 2000, the two-story asset was 86% leased at the time of sale. 15 Guest St. is home to Newbury Comics, NB Fitness Club and a telecommunications company.
Situated adjacent to I-90 (the Mass Pike), Boston Landing is a two million s/f, mixed-use development on 15 acres. It is one of the city’s newest and most dynamic live-work-play neighborhoods. Marked by its infill setting, green spaces and accessibility, this amenity-rich environment is also the new home of Bose, the Boston Celtics and Boston Bruins, as well as the Warrior Ice Arena.
JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Kerry Hawkins and Ben Sayles.
JLL’s Capital Markets debt placement team representing the new owner included Lauren O’Neil and Brett Paulsrud.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: