Newmark closes sale of 176 Federal Street in Boston, Massachusetts for $ 43.5 million
October 21, 2021 1:00 p.m.
Federal Street 176 Holdings, Inc. sells office / retail asset to FoxRock Properties
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October 21, 2021 1:00 PM
Newmark announces the sale for $ 43.5 million of 176 Federal Street, an office / retail building located in Boston, Massachusetts. Newmark’s U.S. Capital Markets Co-Head Robert Griffin, Vice President Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Federal Street 176 Holdings, Inc., and procured the purchaser, FoxRock Properties.
At 76,698 square feet, 176 Federal Street is anchored by the corporate or regional headquarters of law firm Rich May, PC, investment bank Capstone Partners and financial advisor United Gulf Management as well as a Street-level retail branch of the Boston-based Santander Bank. Other retailers include the chocolate factory Au Chocolat and the restaurant Casa Razdora.
“176 Federal Street is part of a select and coveted collection of office and retail buildings in downtown Boston,” said Maher. “The asset combines historic architecture with modern tenant buildings in a prime location just steps from one of the city’s major transit hubs.
176 Federal Street is located next to a pedestrian plaza that serves as the main thoroughfare for commuters and visitors traveling from South Station to the heart of downtown Boston.
Newmark Group, Inc. (Nasdaq: NMRK), along with its subsidiaries (“Newmark”), is a global leader in commercial real estate, seamlessly fueling every phase of the property lifecycle. Newmark’s full suite of services and products are uniquely tailored to suit every customer, from owners to occupants, investors to founders, and startups to blue chip businesses. Combining the platform’s global reach with market intelligence in established and emerging real estate markets, Newmark provides superior service to clients across the industry. Newmark generated revenues of over $ 2.2 billion for the twelve months ending June 30, 2021. The offices owned by the Newmark company, as well as its business partners, operate from more than 160 offices with approximately 6,200 professionals worldwide. To learn more, visit nmrk.com or follow @newbrand.
Discussion of forward-looking statements regarding Newmark
Statements contained in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements regarding the effects of the COVID-19 pandemic on the business, results, financial condition, liquidity and prospects of the Company, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, perhaps materially, from what is currently expected. Except as required by law, Newmark assumes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in forward-looking statements, see Newmark’s Securities and Exchange Commission documents, including, but not limited to, the risk factors and the special note on Forward-looking information set out in these documents and any updates to these risk factors and the special note on forward-looking information contained in subsequent reports on Form 10-K, Form 10- Q or Form 8-K.
Newmark Group Inc. published this content on 21 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 21, 2021 11:43:06 PM UTC.
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