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Florida Investor Acquires Nautica Parking Garage

Florida-based Sunrise Capital Investors LLC , an investor in mobile home park and parking facility properties, has acquired the Nautica Parking Garage, a structured parking asset located at 88 Constitution Rd. on the Charlestown Waterfront in Downtown Boston, for $12,850,000. A Colliers team of Frank Petz, Matthew Sherry, Rob Schlesinger, Daniel Hincks and Joe Gaziano represented the seller, National Development.

Situated in one of Boston’s most actively developing waterfront neighborhoods, the facility is surrounded by a dense concentration of hotels, restaurants, office buildings, and entertainment venues. The parking facility is open 24/7, and serves commuters, tourists and nearby hospitality and entertainment destinations throughout the Seaport and downtown Boston corridor.

“The Nautica Garage is the type of cash-flowing asset we target,” said Kevin Bupp, CEO of Sunrise Capital. “Prime urban location, strong daily demand and limited new supply leads to consistent performance over the long term.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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