NB Development sells 15 Guest St. at Boston Landing for $18.35m

Boston, MA JLL Capital Markets has arranged the $18.35 million sale of and the $12.89 million acquisition financing for 15 Guest St., a 115,551 s/f, two-story retail and industrial urban condo within the Boston Landing mixed-use development.

JLL represented the seller, NB Development; procured the buyer, an affiliate of R.J. Kelly Co., Inc.; and placed the acquisition financing with Cambridge Trust Company.

Constructed in 2000, the two-story asset was 86% leased at the time of sale. 15 Guest St. is home to Newbury Comics, NB Fitness Club and a telecommunications company.

Situated adjacent to I-90 (the Mass Pike), Boston Landing is a two million s/f, mixed-use development on 15 acres. It is one of the city’s newest and most dynamic live-work-play neighborhoods. Marked by its infill setting, green spaces and accessibility, this amenity-rich environment is also the new home of Bose, the Boston Celtics and Boston Bruins, as well as the Warrior Ice Arena.

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Kerry Hawkins and Ben Sayles.

JLL’s Capital Markets debt placement team representing the new owner included Lauren O’Neil and Brett Paulsrud.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Tags: Owners Developers & Managers

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