Boston Realty Advisors Represented Real Estate Specialists in Consolidation
April 28, 2022 – By Tom Palmer
BOSTON – Concept Properties, a Boston real estate firm specializing in investment sales and real estate development, is leasing the top two full floors of 179 Newbury St. in the Back Bay, represented by Boston Realty Advisors, the largest Boston-based independent real estate brokerage and advisory firm in Massachusetts.
Between Exeter and Dartmouth streets on Newbury Street, which is popular for shopping and dining and one Boston’s busiest pedestrian streets, the space is comprised of two full-floor suites. The building, built as a private residence in 1899, is undergoing a full interior renovation by its new owner, Asana Partners, to create state-of-the-art contemporary office space.
Newbury Street, long known for its high-end retail and heavily patronized restaurants and evening life, is increasingly becoming attractive to boutique financial advisors and portfolio managers.
“This is an iconic location and beautiful space,” said Wil Catlin, Managing Director and Senior Partner of Boston Realty Advisors, whose team at BRA handled the transaction for Concept Properties. “Newbury Street is on fire, not only for the right retail but increasingly for company owners who appreciate its unmatched amenities.”
Concept Properties is consolidating its operations at 179 Newbury St. from two other locations, 661 Tremont St. and 1607 Tremont St. The four-story building, which has retail space on street-level floors, is getting base upgrades including a new elevator and lobby reimagined warm tones. Concept Properties will occupy a total of 2,615 square feet.
“The team at Concept Properties is excited to be opening our new flagship location in an Iconic building on Newbury Street,” said Matt Ramey, Owner of Concept Properties. “Our new office is ideal for our expanding operations and convenient for all of our clients as well.”
Boston Realty Advisors’ commercial leasing transactions constituted more than 550,000 square feet in the Boston area last year.
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