BOSTON – Colliers International’s Investment Sales team announced that it has brought to market 1515 Commonwealth Avenue in Brighton, a 2.12-acre redevelopment opportunity with immediate access to downtown Boston via the MBTA Green Line – B branch.
Formerly operating as a 59-bed, long-term acute care hospital, the 58,000-square-foot, four-story building plus basement has been renovated over time and includes dining facilities, common area amenities as well as a large parking lot. It provides additional FAR for redevelopment opportunities and will be delivered vacant at the time of sale.
Proximity to New Balance’s nearby new development, Boston Landing, as well as walking distance to well-established amenities of Coolidge Corner, Brighton Center and Allston, makes the site an incredibly appealing location to meet demand now being driven by Brighton’s multifamily boom.
“Density precedents set by nearby development projects for New Balance, Saint Elizabeth’s, and Harvard University will inevitably benefit the buyer of 1515 Commonwealth Ave,” noted senior vice president Christopher Sower. “There should be a high level of confidence from the investor side that a site in this location will be poised to benefit from continued market growth,” added executive vice president Scott Dragos.
The Colliers’ Investment Sales team includes Scott Dragos, Doug Jacoby, Chris Sower, and Jeff Black.