Boston, MA Newmark completed the $43.5 million sale of 176 Federal St., an office/retail asset located in Boston, Massachusetts. Newmark co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Federal Street 176 Holdings, Inc., and procured the buyer, FoxRock Properties.
Comprising 76,698 s/f,176 Federal St. is anchored by the law firm Rich May, P.C., investment bank Capstone Partners and financial advisor United Gulf Management as well as a street-level retail branch of Santander Bank. Other retailers include chocolate shop Au Chocolat and restaurant Casa Razdora.
“176 Federal St. is part of a select and coveted set of ‘jewel box’ office/retail buildings in downtown Boston,” said Maher. “The asset blends historic architecture with modern tenant buildouts in a high-profile location just steps from one of the city’s primary transit hubs.”
176 Federal St. is situated adjacent to a pedestrian plaza that serves as a major artery for commuters and visitors traveling from South Station into the heart of downtown.