Equity Commonwealth sells 109 Brookline to IQHQ for $270m - NKF handles sale of 285,000 s/f property

March 06, 2020 - Front Section

Boston, MA Newmark Knight Frank (NKF) has completed the $270 million sale of 109 Brookline Ave. on behalf of Equity Commonwealth to IQHQ (formerly Creative Science Properties). Co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing directors Matthew Pullen and Frank Nelson, managing directors Michael Greeley and Samantha Hallowell and associate director Blake McLaughlin of NKF’s Boston Capital Markets group oversaw the transaction of the 285,000 s/f office, medical and laboratory asset.

109 Brookline is 99% leased to Beth Israel Deaconess Medical Center, Dana-Farber Cancer Institute and Boston Children’s Hospital – all of which operate flagship hospitals in the adjacent Longwood Medical and Academic Area (LMA) – as well as Toast, a fast-growing technology startup. 

“Offered for the first time in 25 years, 109 Brookline features an exceptional combination of tenancy, location and upside within one of the United States’ top investment markets,” said Maher. “The asset is anchored by three Harvard Medical School-affiliated institutions, located along the Green Line, just steps from both Fenway Park and the LMA and surrounded by a wealth of synergistic new developments.”

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