Development Opportunity With In-Place Cash Flow
As exclusive listing agent, BRA is pleased to offer for sale 44 North Beacon Street (the “Property”), a 7,758 SF industrial building resting on a 17,640 SF lot and located in one of Boston’s most transformative submarkets. The site’s proximity to New Balance’s 2.5M SF development: which includes an additional 485,000 SF office/lab, Boston Landing Hotel, 275,000 SF sports complex and a quick walk or bus into Harvard Square and Kendall Square make the property desirable for investors, developers, businesses and employees.
Allston will boast practice facilities for both the Bruins and Celtics at New Balance’s development site and Headquarters as well as significant future development from Harvard University along Western Avenue beginning with the 496,000 SF SEAS building which is expected to be delivered in the fall of 2020. Over the next few years Harvard plans to deliver close to 3M SF of new development to the submarket with another 25-30M SF in the pipeline for their “long-term” master plan. Additionally, Ahold USA plans to construct approximately 1.1M SF of development at its current Stop & Shop site steps from New Balance and less than a block from 44 N Beacon Street. With growing demand and limited supply, the site is poised to capitalize on strong market fundamentals.
This spring, Boston Landing will open a commuter rail stop on the Framingham/Worcester line, bringing immediate public transit for employees and commuters of Allston. Already existing MBTA access exists with the Green Line B Train at Packard’s Corner and Harvard Avenue – both only 15 minutes from the site. MBTA buses, 86,64,57 & 70 run throughout the submarket servicing Boston and Cambridge respectively. As part of the Mass Pike realignment, the future West Station will further galvanize the submarket with train, bus and bike hubs with an infrastructure similar to that of South Station.
For more information visit 44NBeacon.com.