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Sign in Sign up for a FREE subscriptionAzora acquires mixed-use office asset in Boston for $101m
Azora announced it has completed the purchase of a modern office building in Boston, located at 149 Newbury St., for $101 million.
This trophy, mixed-use building offers 45,495 rentable square feet for offices and luxury retail spaces across five floors. The asset features cutting-edge design with LEED Gold certification and is situated along the Newbury Street commercial corridor, surrounded by luxury shops and restaurants in Boston’s exclusive Back Bay neighborhood.
The building is 81 percent leased to top-tier tenants. The ground floor is fully leased to Google, which operates its first high-tech store in New England; and Alo, an exclusive sportswear tenant.
Only the third floor of the asset is available to let and Azora plans to convert its 9,586 square feet into ready-to-move-in offices, given the demand in the area for this type of space.
“We are pleased to have acquired such a high-quality asset, which aligns with the strategy we began to imple