Boston, MA Newmark Knight Frank (NKF) has completed the sale of 55 Seaport Blvd. to Zurich for $23.5 million. Led by U.S. head of capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen, managing director Justin Smith, director James Tribble and associate director Samantha Hallowell, NKF’s Boston Capital Markets group, in conjunction with NKF executive managing directors David Martel and Jonathan Martin, oversaw the transaction of the 13,500 s/f office/retail building on behalf of Boston Global Investors (BGI). The ZAAM team was led by Roy Rosenbaum, director of acquisitions, and Sean Bannon, managing director and head of U.S. real estate.
Completed by BGI in 2016, 55 Seaport Blvd. is 100% leased to BGI, a leading real estate development and consulting firm, and Capital One, one of the 10 largest banks in the U.S. The property serves as BGI’s headquarters facility and Capital One’s flagship Seaport District bank and 360 Café.
“55 Seaport Blvd. represents an exceptional ‘bite-sized’ investment in one of Boston’s most active development districts,” said Pullen. “The asset also enjoys strong visibility at the gateway to the Seaport District and across the bridge from Downtown Boston.”
55 Seaport Blvd. benefits from an unmatched location within Seaport Square, a 23-acre, 6.3 million s/f mixed-use development and one of the largest master-planned projects in the city’s history. Originally approved as a joint development of BGI, Morgan Stanley and WS Development, this brand-new urban neighborhood is slated to transform the Seaport District into a 24/7 place to live, work, shop and play with a mix of office and research space, residences, retail shops, restaurants, hotels and cultural institutions.