Boston Realty Advisors (BRA) has completed the sale of 171 Newbury St., an 8,529 s/f retail building located between Dartmouth and Exeter Sts., for $13.25 million.
The asset has been family-owned since 1979 and has been occupied by its namesake, Pucker Gallery, since 1967. The Pucker Gallery will lease back their space for a short term until their construction is done at 240 Newbury St., where they plan to move this fall. The street-grade flagship retail space is occupied by Clarks Shoes.
BRA exclusively represented the seller, S&B Realty Trust, and procured the buyer. The capital markets team of Michael d'Hemecourt, Christopher Sower and Jason Weissman of BRA handled the sale. Providing a full scope of services, the downtown office leasing team of Wil Catlin and Robert LeClair assisted the Pucker Gallery in their relocation to 240 Newbury St.
"It was a pleasure working with the Pucker Gallery on the various phases of this project including the sale of 171 Newbury Street, relocating the gallery to a new flagship location and sourcing multiple high-quality exchange opportunities," said d'Hemecourt, partner and president of BRA.
BRA is a privately held commercial brokerage firm based out of Boston Massachusetts. BRA specializes in the sale and leasing of investment and commercial properties throughout New England.