Boston — Newmark Knight Frank (NKF) has completed the sale of 22 Boston Wharf Road & Stillings Garage in the Seaport District of Boston to Invesco Real Estate, a global real estate investment manager.Financial details of the transactions were not disclosed.
Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Managing Director James Tribble and Director Samantha Hallowell of NKF’s Boston Capital Markets team – which is led by Co-Head of U.S. Capital Markets Robert Griffin – oversaw the transaction of the 10-story asset.
22 Boston Wharf Road & Stillings Garage comprises a four-story, 123,875 square foot office building and a six-level, 555-space parking garage. The asset’s office component is presently 97 percent leased to four tenants: Industrious, Mendix, Akcea Therapeutics (NASDAQ: AKCA) and Duck Creek Technologies.
“22 Boston Wharf Road & Stillings Garage features an exceptional location in the Seaport District, which is undeniably Boston’s most dynamic office submarket and newest lifestyle neighborhood,” said Maher. “The property also benefits from adjacency to diverse parking demand generators, including e-commerce giant Amazon’s future flagship office.”
22 Boston Wharf Road & Stillings Garage is easily accessible to all major forms of transportation, including the MBTA Silver Line, South Station, Interstate 90 (Massachusetts Turnpike) and Logan International Airport. The asset is also surrounded by a synergistic roster of blue-chip employers including Alexion, Boston Consulting Group, Cengage, Fidelity, GE, Goodwin, LogMeIn, PTC, Reebok and State Street.