BOSTON— Newmark Knight Frank (NKF) has completed the sale of 200 State Street in Boston to Carr Properties for $222 million.
On behalf of GLL Real Estate Partners, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Director James Tribble of NKF’s Boston Capital Markets team, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of 200 State Street’s 304,178-square-foot office condominium and associated 120-space parking garage.
200 State Street is presently 96 percent leased to a diverse 21-tenant roster anchored by Beacon Health Options, TD Bank, FTI Consulting, Beacon Capital Partners and TIFF Investment Management. The institutional-quality asset benefits from significant base building and tenant improvements completed throughout the past 10 years.
“200 State Street’s compact building core facilitates highly efficient, flexible floor plates averaging 20,000 square feet in size,” said Pullen. “Combined with its prestigious State Street address and panoramic city and Boston Harbor views, the asset is uniquely able to accommodate a variety of modern tenant requirements.”
Featuring on-site access to the MBTA Blue Line and located within a five-minute walk of the MBTA commuter ferry at Rowes Wharf, 200 State Street boasts an exceptional location with respect to all major forms of transportation. The asset is also well positioned between South Station and North Station, Boston’s primary transit hubs. Finally, Interstates 93 and 90 (Massachusetts Turnpike) are easily accessible from 200 State Street’s on-site parking garage.