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Boston & New England  + Boston  + Retail  | 
JLL has closed the $12 million sale of Pier 4 Retail in the Seaport neighborhood of Boston, MA.

Hunger for Chef-Driven Restaurants Preps $12M Sale of Urban Retail Asset in Seaport

JLL has closed the $12 million sale of Pier 4 Retail, a 16,134-square-foot urban retail condominium leased to two full-service, chef-driven restaurants in the Seaport neighborhood of Boston, MA.

Chris Angelone, Nat Heald, Kellie Coveney and Zach Nitsche of JLL advised the seller, Tishman Speyer Properties.

Accroding to JLL, investors have shown renewed interest in prime urban retail and consumers are hungry for the novel and fun experience of chef-driven cuisine. The 2019-constructed Pier 4 Retail’s restaurants have a built-in customer base from The Residences at Pier 4, a LEED gold, 100-percent occupied luxury condominium building with 106 residential units situated above the restaurants.

Over the past several years, more than 12 million square feet of commercial space has been developed in the Seaport district, with over 3.3 million square feet under construction. Seaport is emerging as one of the nation’s top destinations for life sciences.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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