Marcus Partners sells 300 Mass. Ave. to Northeastern University for $22 million - handled by Griffin, Greeley, Cameron and Cavanaugh of NKF

Boston, MA Marcus Partners has sold 300 Massachusetts Ave. (Horticultural Hall), a 45,000 s/f mixed-use property located at the intersection of Huntington Ave. and Mass. Ave. in the Back Bay, to Northeastern University. The building was sold for $22 million. Newmark Knight Frank’s (NFK) co-head of U.S. capital markets Robert Griffin and managing director Michael Greeley oversaw the transaction in conjunction with NKF senior managing director Jason Cameron and managing director Ali Cavanaugh.

Before selling the property, Marcus Partners completed a capital program that fully restored and modernized the historic building including a renovation of the lobby and upgrades to the interiors and mechanical systems.

“This property, known as Horticultural Hall, is both historically and architecturally significant for the city of Boston,” said Peter Cameron, a principal with Marcus Partners. “We were lucky to have the opportunity to purchase this facility from the Christian Science Church and we’re happy they trusted us with the property that sits directly on the newly renovated Christian Science Plaza. It was a thrill to help restore and bring new life to the property. Finally, we are pleased that Northeastern is the new owner as they are a first-class institution across the board who will undoubtedly be great stewards of this gem for years to come. This is a real win for all parties.” 

Marcus Partners purchased the property in 2017. 300 Mass. Ave. is 100% leased to four tenants, with Boston Magazine occupying 40% of the building. This transaction is representative of Marcus’ strategy to identify unique, underutilized properties and work with the community and all stakeholders to enhance both their value and appeal.