boston, ma - loopnet

B o s t o n , M A

EXECUTIVE SUMMARY

Totaling 3,120 square feet, the offering is fully leased to Joint Ventures Physical Therapy, on a brand new 10-year, triple-net lease basis. This landlord-friendly lease also incorporates contractual annual rent increases and two 5-year extension options. Currently under construction, the space has recently been turned over to the tenant as of February 1, 2019.

63 Melcher Street sits at the heart of the Fort Point neighborhood in Boston’s dynamic Seaport District, which has recently undergone a transformation into one of the city’s most dynamic “lifestyle” locations. The offering forms the base of The Muse, a luxury boutique residential condominium featuring 38 units. These studio and one-bedroom loft-style residences are currently being marketed at $1,250 per square foot, with the first residents taking occupancy of their units earlier this year.

Approximately $19 billion in public and private funds have transformed the Seaport District into Boston’s hottest lifestyle neighborhood. This has led to the neighborhood attracting global and regional headquarters for a variety of blue chip companies, such as General Electric, Reebok, Alexion, PTC, PWC, Goodwin, and Vertex. In addition to these, Amazon plans to open up to one million square feet of office space in the Seaport. The Seaport has also become the newest retail and restaurant destination in Boston, with new retailers such as L.L. Bean, Lululemon, and Warby Parker complementing the exciting restaurant scene highlighted by Sportello, Drink, Lolita, and Bastille Kitchen.

Ne wmark K night Fr ank ’s Bos ton Capital Mark e t s Group has been e xclusively re tained to sell 63 Melcher S tree t, an e xcep tional commercial condominium unit located in the thriving Se aport Dis trict of Bos ton, Massachuse t t s.

EXCEPTIONALSEAPORT

LOCATION

Space photographed prior to being turned over to tenant

Space photographed prior to being turned over to tenant

UPUP

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fire commandroom

residential elev. lobby

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Joint Ventures3,120 SF

LX: may 2029

INVESTMENT HIGHLIGHTS

New Long-Term NNN LeaseFully occupied by Joint Ventures Physical Therapy, with a new long-term NNN lease which commenced Feburary 1, 2019

Brand New Retail Condominium 3,120 square foot commercial condominium located at the base of The Muse luxury residential condominium building in the heart of Boston’s red-hot Fort Point Channel neighborhood

Prime Fort Point LocationLocated at the prominent intersection of A Street and Melcher Street, 63 Melcher Street is at the heart of the dynamic Fort Point neighborhood consisting of luxury residential condominiums, high-end restaurants, and a vibrant office market featuring the new global headquarters of General Electric.

Boston’s Hot test NeighborhoodBoston’s Seaport District is the city’s hottest location, benefiting from $19 billion in public and private investments that have attracted blue chip employers, an affluent residential population, and a vibrant retail scene.

Historic Charm, Modern Redevelopment In keeping with the surrounding area, 63 Melcher Street is a former shoe manufacturing location that has been transformed into a LEED Gold, brick and beam building featuring 38 luxury residential units that were delivered to their new owners in 2018.

Free and Clear of Existing DebtThe offering is being provided free and clear of any existing debt allowing the buyer to capitalize on the current low interest rate environment

BRAND NEWNNN LEASE

SEAPORT DISTRICT:FORT POINT CHANNEL

SUMMER STREETCONGRESS STREET

253 Summer Street

150,000 SF

900 employees

Opening Q3 2018

5-6 Necco Court

New $200 million headquarters campus

400,000 SF

800 employees

Lease signed 2016

Opening 2019-2021

SAMANTHA TORTOFinancial Analyst

(617) [email protected]

GLORIA KUOTransaction Services


225 Franklin Street, 33rd FloorBoston, MA 02110

ROBERT E. GRIFFIN, JR.U.S. Head of Capital Markets


PAUL PENMANDirector


JUSTIN SMITHSenior Managing Director


GEOFFREY MILLERDVice Chairman


FOR DEBT INFORMATION:

DAVID M. DOUVADJIANExecutive Managing DirectorHead of Mortgage Banking New England


TIMOTHY O’DONNELLDirector


boston, ma - loopnet

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