Boston–NKF Capital Markets has completed the sale of 957 Commonwealth Avenue in the vibrant Brighton neighborhood of Boston to Nolan Properties Group, LLC.
Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith, Associate Director Paul Penman and Financial Analyst Christian Brannelly of the NKF Capital Markets Boston office, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the 15,800-square-foot asset on behalf of J. & M. Realty, Inc.
Having been privately owned and operated under the same ownership since 1983, 957 Commonwealth Avenue has consistently attracted service-oriented retailers seeking exposure along one of city’s most vibrant corridors.
“As a campus-oriented retail asset positioned in the heart of Boston’s most densely-populated communities for students and young professionals, 957 Commonwealth Avenue represented a generational opportunity,” said Smith. “Furthermore, the asset’s long-term viability is solidified by the combination of perpetual demand drivers in the area, highlighted by Boston University, the MBTA Green Line and strong local demographics.”
957 Commonwealth Avenue is strategically positioned on the edge of the Boston University campus, which offers embedded demand via its 33,100 students, 10,000 faculty/staff and tens of thousands of annual visitors. The property is also well located along Commonwealth Avenue, a major local thoroughfare and vibrant retail destination, directly across from the MBTA Green Line’s Pleasant Street stop.