Jumbo Capital Management, LLC acquires 1099 Hingham Street for $8.5 million - currently 94% leased to six national tenants

1099 Hingham Street - Rockland, MA

Rockland, MA Jumbo Capital Management, LLC (JCM) is making its mark on 2016 with its acquisition of 60,000 s/f at 1099 Hingham St. Jumbo who just finished up an aggressive 18 months, closing on over $150 million of real estate, purchased 1099 for $8.5 million. Currently 94% leased to a strong roster of six nationally recognized tenants, the team anticipates strong synergy with 1099 and its growing South Shore portfolio, including the company’s two properties on Longwater Dr. in Norwell, located 1 mile away.

“We continue to invest in the South Shore market because it is unbeatable in terms of price, amenities, access to talent and distance to public transportation and the major highways,” said Jay Hirsh, managing partner. “1099 has all of these qualities and much more, with its diversified roster of stable clients this is a unique opportunity for Jumbo that we couldn’t pass up.”

Located directly off Rte. 3 on the Rockland/Norwell/Hingham town line, 1099 is a three-story office building built in 1989. The building offers a common loading dock and a 3-story atrium in a wooded, beautifully landscaped setting. Occupied by financial and professional service firms such as RS Means and UBS Financial, 1099 has class A finishes and ample parking, and an ability to accommodate tenants of any size, including small businesses desiring as little as 1,500 s/f.

The first acquisition of 2016 follows a productive 18 months of acquiring over $150 million of real estate which includes 150 Royall St. in Canton, 100 Crosby Drive in Bedford and 1900 Crown Colony Drive in Quincy making JCM one of the most active buyers in the Great Boston area.

1099 was purchased from Rockland Haverstraw Trust (The Grossman Companies) and closed on January 25.

Based in Quincy, Jumbo Capital Management is a privately held commercial real estate investment firm committed to providing exceptional real estate investments and asset and property management services.  As one of the most active buyers in the Greater Boston market, JCM closed on almost 800,000 s/f in the last year. Jumbo deals in all classes of real estate, with an expertise in leveraging distressed and under-performing assets. Jumbo currently owns 18 assets throughout the Boston area with over 2 million s/f.