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Brick-and-Beam Offices Trade in Boston’s Seaport District
Newmark arranged the sale of 343 Congress St., a mixed-use property in the Boston Seaport District’s Fort Point neighborhood. Although Newmark did not disclose the sale price, published reports put it at $48 million.
A Newmark team including co-head of U.S. Capital Markets Robert Griffin, Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble, senior managing director Samantha Hallowell and associate director William Sleeper represented seller BGO. They also procured the buyer, North Colony Asset Management, which had sought to own the property for more than 20 years.
The 114,677-square-foot 343 Congress’ office component is anchored by Chewy, the largest e-commerce retailer of pet products in the U.S. The five-story building’s street level is anchored by two popular restaurants: The Smoke Shop and Pastoral.
“343 Congress St. generated exceptional investor interest due to its high-quality brick-and-beam construction and prime location in Boston’s innovation district,” said Pullen. “While naturally supply-constrained, this product type is uniquely suited to appeal to modern creative office users.”
Photo courtesy of Berkeley Investments.
- ◦Sale/Acquisition
