60 Newmarket Sq, Boston, MA, 02118-2619, US

60 Newmarket Sq

Asset description

As exclusive sales agent, JLL Capital Markets is pleased to offer for sale 60 Newmarket Square (the “Property” or “Asset”), a 4,115 square foot office/retail asset located in Roxbury, Massachusetts. The Property offers convenient covered parking, a well-designed and functional layout, and most notably, a prime transit-oriented location. Being located directly across the street from the Newmarket MBTA commuter stop enhances its accessibility and positions it perfectly for those seeking convenient transportation options.

Originally a Citizens Bank location, the Property is now currently occupied by Roca. Roca's mission is to be a relentless force in disrupting incarceration, poverty, and racism by engaging the young adults, police, and systems at the center of urban violence in relationships to address trauma, find hope, and drive change. Roca will occupy the Asset through May 2027.

60 Newmarket represents an opportunity to own a commercial asset in one of Boston's most competitive industrial districts. Newmarket is a mission-critical staging area for many Boston based businesses and what little rental product exists continually commands the highest rents in the region. Assets like 60 Newmarket will remain well positioned to capitalize on this dynamic for years to come.

The Property is being offered as-is, free and clear of any debt.

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Attributes

Building area gross

382 sm

Occupancy

100%

WAULT

3.5 years

Year built

1958

Year renovated

2019

Land area gross

0 ha

Parking spaces

Media

Investment highlights

Conveniently located in the heart of Boston, making it easily accessible and well-connected to other neighborhoods and areas of the city

The area has significant redevelopment potential, with plans underway to revitalize the square and enhance its infrastructure. This could bring new amenities, improved public spaces, and attract further investment.

The area is known for its diverse community, consisting of residents and businesses from various cultural backgrounds. This diversity contributes to a vibrant atmosphere and a wide range of culinary offerings.

The area has undergone rezoning efforts to encourage mixed-use development, including residential, commercial, and industrial spaces. These zoning changes provide flexibility for future development projects.