161 Harvard Ave

JLL Capital Markets presents the exclusive opportunity to acquire 161 Harvard Avenue (the “Property”), which has been owned and managed by the same family for nearly 60 years, consisting of +/- 40,892 RSF of retail and office as well as a 73 space surface parking lot. The Property is situated just 5 miles from Downtown Boston between Brighton and Commonwealth Avenues in the Packard’s Corner Neighborhood of Allston, Massachusetts.

The Property is 88.4% leased with 4,754 SF of vacancy, and only 10 tenants totaling 16,417 SF have more than 1 year of contractual lease term remaining. With +/- 245 feet of frontage along Harvard Avenue and the ability to re-tenant nearly 20,000 SF in the immediate term – there is an unparalleled opportunity for creative repositioning. The existing tenancy currently does not reimburse any expenses, which is an additional value lever for a new owner. In addition to the substantial ability to reposition the existing asset, the Property also presents a significant development opportunity. Spanning +/- 1.24 acres, the site offers investors and developers rarely available scale to increase density through residential or mixed-use development.

161 Harvard Avenue is a generational opportunity to procure an irreplaceable piece of real estate with a blank canvas for value creation.