Mixed-Use Asset with Development Potential
Boston Realty Advisors is exclusively retained to offer for sale, 85-87 A Street; a +/-2,500 square foot mixed use property located in the thriving South Boston submarket. Currently occupied by a restaurant on the ground floor and two residential units above, the 85-87 A Street offering provides investors or a user with a prime redevelopment opportunity in one of the most transformative markets in the country.
South Boston has become the pre-eminent investment destination for both local and international capital. The submarket continues to reap the benefits of the neighboring Seaport District, which is currently undergoing one of the largest real estate rejuvenations in the world. Additionally, the relocation of General Electric’s headquarters has created the “GE Effect”, which will have lasting positive economic, social and demographic impacts to South Boston. Not to mention, Amazon.com has just implanted themselves in the neighborhood with a long-term 150,000 square foot lease.
We are offering this unique investment opportunity for sale on an unpriced basis. We will be conducting tours over the coming weeks with a call-for-offers to follow.
High Growth Neighborhood
In the past five years, South Boston residential condominiums have increased in value over 61% and the weighted average based upon square feet has increased over 125%. This submarket has experienced unprecedented growth, which will continue as development persists and company migration to South Boston increases.
85-87 A Street offers multiple transit options with the Broadway MBTA station just two blocks away or the variety of bus routes that pass through the neighborhood. Additionally, 85-87 A Street is within walking distance to all of the amenities South Boston has to offer as well as the deep employer base.
More than $20 billion in investments have fueled over 1.5 million square feet of completed development with an additional 2 million square feet under construction or slated for future development. The construction boom has had major impacts on attracting best in class companies to the submarket which has significantly pushed rents higher year-over-year.
GE’s corporate relocation to the submarket has put South Boston on the international map for all companies to join GE for the long-term growth happening in the neighborhood. Their relocation solidifies Boston as one of the most important innovation hubs in the country. GE’s decision will have long lasting effects that will continue to grow Boston’s business economy, talent pool, and connections with the world.
85-87 A Street lends itself to many different uses. With the prime location and the height precedence set by the new construction directly next door, 85-87 A Street has the ability to continue being operated as a mixed use property or be completely redeveloped.