NB Development sells 15 Guest Street at Boston Landing
JLL arranges the $18.35M sale and $12.9 financing for an urban retail/industrial asset
BOSTON, January 9, 2020 – JLL Capital Markets announced today that it has arranged the $18.35 million sale of and the $12.89 million acquisition financing for 15 Guest Street, a 115,551-square-foot, two-story retail and industrial urban condo within the Boston Landing mixed-use development in Boston, Massachusetts.
JLL represented the seller, NB Development; procured the buyer, an affiliate of R.J. Kelly Co., Inc.; and placed the acquisition financing with Cambridge Trust Company.
Constructed in 2000, the two-story asset was 86% leased at the time of sale. 15 Guest Street is home to Newbury Comics, NB Fitness Club and a telecommunications company.
Situated adjacent to Interstate 90 (the Mass Pike), Boston Landing is a two-million-square-foot, mixed-use development housed on 15 acres. It is the city’s newest and most dynamic live-work-play neighborhood. Marked by its infill setting, expansive green spaces and unmatched accessibility, this amenity-rich environment is also the new home of Bose, the Boston Celtics and Boston Bruins, as well as the famed Warrior Ice Arena.
JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Kerry Hawkins and Ben Sayles.
JLL’s Capital Markets debt placement team representing the new owner included Lauren O’Neil and Brett Paulsrud.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.