News:
Owners Developers & Managers
Posted: October 27, 2023
Newmark finalizes sale of 855 Boylston
Street - totaling 142,765 s/f
Boston, MA Newmark has completed the sale of 855 Boylston St., a mid-rise office/retail asset located in the Back Bay neighborhood. The sale price was not disclosed. Newmark co-head of U.S. Capital Markets Robert Griffin, executive vice chairman Edward Maher, vice chairman Matthew Pullen and senior managing director Samantha Hallowell of the firm’s Capital Markets Group represented the seller, a global investment manager, and procured the offshore buyer, 855 Boylston Inc. The transaction is one of the largest office sales completed in Back Bay in more than three years*.
Totaling 142,765 s/f across 11 stories, 855 Boylston St. is 100% leased to 13 tenants. The asset features an updated lobby and glass curtainwall, multiple outdoor terraces and 32 below-grade parking spaces.
“855 Boylston St. is part of an exclusive competitive set that consistently outperforms the overall Back Bay submarket,” said Hallowell. “This transaction represents the first time that this high-performing asset has changed ownership in nearly a quarter-century.”
*According to an analysis of data from MSCI Real Capital Analytics.
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