BOSTON–JLL Capital Markets announced that it has arranged the $18.35 million sale of and the $12.89 million acquisition financing for 15 Guest Street, a 115,551-square-foot, two-story retail and industrial urban condo within the Boston Landing mixed-use development in Boston.
JLL represented the seller, NB Development; procured the buyer, an affiliate of R.J. Kelly Co., Inc.; and placed the acquisition financing with Cambridge Trust Company.
Constructed in 2000, the two-story asset was 86% leased at the time of sale. 15 Guest Street is home to Newbury Comics, NB Fitness Club and a telecommunications company.
Situated adjacent to Interstate 90 (the Mass Pike), Boston Landing is a two-million-square-foot, mixed-use development housed on 15 acres. It is the city’s newest and most dynamic live-work-play neighborhood. Marked by its infill setting, expansive green spaces and unmatched accessibility, this amenity-rich environment is also the new home of Bose, the Boston Celtics and Boston Bruins, as well as the famed Warrior Ice Arena.
JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Kerry Hawkins and Ben Sayles.
JLL’s Capital Markets debt placement team representing the new owner included Lauren O’Neil and Brett Paulsrud.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.