The handsome three-story Newbury Street building has 2,850 square feet of retail space, occupied by the women’s clothing brand Reformation on the first floor, and a total of 3,884 square feet of office space, occupied by a single tenant, on the second and third floors.
“This has strong potential as a stabilized asset on Newbury Street, which is one of the country’s top retail locations,” said Matt Ericson, Associate Analyst at the Capital Markets Group of Boston Realty Advisors. “It’s a great investment opportunity for someone looking to hold real estate in Boston with tenants who have term on their leases.”
The property is situated in one of Boston’s most iconic neighborhoods, adding to the energetic retail vein on Newbury Street and the professional element of the Back Bay. It is currently owned by Infinity Collective.
The building acts as a gateway address for the Back Bay, Berklee School of Music campus, Fenway, and even across the Charles River to Cambridge. The new Parcel 12 development straddling the MassPike is a block away and is going to be a magnet at that end of Newbury.
The property is available for sale on an unpriced basis. Boston Realty Advisors is conducting tours of the property in the coming weeks with a call for offers to follow.
Boston’s Back Bay continues to be one of the strongest markets in the city, home to some of the city’s best restaurants, hotels, shopping, and companies.
Located just steps from the Hynes Convention Center MBTA Station, the property is well situated for those commuting via public transit. Additionally, Newbury Street has street parking, and Blue Bikes.
Read full article on Yahoo
