January 6, 2021, 10:00 AM
Newmark announces the sale of 601 Congress, a laboratory conversion opportunity located in the Seaport District of Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, a separate account client of Manulife Investment Management, and procured the buyer, BioMed Realty, a Blackstone portfolio company. Newmark Senior Financial Analyst Will Sleeper provided financial analysis support.
Comprising 482,000 square feet of Class A office and laboratory conversion-ready shell space across 14 stories, 601 Congress is a headquarters-quality asset designed by SOM (Skidmore, Owings & Merrill). The building formerly served as home to John Hancock prior to the firm’s consolidation in Boston’s Back Bay neighborhood.
“601 Congress is well positioned for life science conversion,” said Edward. “The property offers flexible and efficient workspaces, LEED Platinum certification, rare on-site parking and the ability to accommodate an expansive roster of amenities in Boston’s most dynamic and energized neighborhood.”
In fact, 601 Congress is the only LEED v4 Platinum-certified building in Massachusetts. The asset further benefits from its central location in the Seaport District, surrounded by an MBTA Silver Line stop, Interstates 90 and 93, a fast-growing life science cluster and a diverse amenity base.
About Newmark Group, Inc. (NASDAQ: NMRK)
Newmark Group, Inc. is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology and industry expertise, Newmark brings ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark Group, Inc. generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
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