JLL arranges $83 million sale of Mandarin Oriental Retail Collection in Boston

Boston, MA JLL Capital Markets has arranged the $83 million sale of the Mandarin Oriental Retail Collection, a retail property totaling 28,856 s/f in the city’s Back Bay neighborhood.

JLL represented the seller, and procured the buyer, The Hennick Group.

The Mandarin Oriental Retail Collection is located at 772 and 776-778 Boylston St. With 100 ft. of frontage along Boylston St., the shops are positioned at the base of the Mandarin Oriental Hotel and within the Prudential Center, a city landmark and shopping destination in the Northeast. The property benefits from the foot traffic stemming from nearby retail and tourist destinations, including Eataly, View Boston, Dick’s House of Sport, Fenway Park, The Boston Public Garden, Boston Public Library and Copley Sq., among others.

The jewel box retail condominium is currently 82.2% leased and anchored by Citizens Bank. Additional tenants include Frette, MiniLuxe and Lunette Optic.

The JLL Capital Markets investment sales and advisory team representing the seller was led by senior managing director Chris Angelone, director Zach Nitsche and associate Sam Wiesman, with help from managing director Anthony Cutone.

“The Mandarin Oriental Retail Collection is a true trophy asset in an incredible location in Boston,” said Angelone. “The sale price represented one of the highest price-per-s/f retail trades in the city’s history, which is a testament to the exceptional quality of the asset and the opportunity for The Hennick Group going forward.”