Alduwaliya Purchases Two Boston Office and Retail Properties

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Boston – CBRE announced the sale of 99 Chauncy Street and 101 Summer Street in Boston. Financial details of transaction were not disclosed.

CBRE’s Boston Capital Markets team represented the seller, Nuveen Real Estate. CBRE’s Boston Capital Markets team includes Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines. The 99 Chauncy Street and 101 Summer Street transaction marks the tenth transaction for CBRE’s Capital Markets team in the Downtown Boston market in 2019.

“CBRE is thrilled with the results of the marketing process of 99 Chauncy Street and 101 Summer Street,” stated CBRE’s Mulhall. “Nuveen was exceptional from start to finish. Alduwaliya ultimately won out in an extremely competitive process and executed flawlessly to make the transaction a true win-win for all parties.”

99 Chauncy Street and 101 Summer Street consist of 159,781 square feet of office and ground-floor retail located within Boston’s Financial District. The portfolio is 100% leased to 19 tenants with a weighted average remaining lease term of 7.23 years. Situated within a premier downtown Boston location with superior transportation access, the properties are steps from South Station and Downtown Crossing, two of Boston’s major transportation hubs, and within a two-minute drive to Interstates 93 and 90. 99 Chauncy Street and 101 Summer Street are also within walking distance to multiple MBTA bus stops, Bluebikes sharing stations, Zipcar sharing locations as well as the MBTA commuter ferry.