123 Newbury Street

Address: 123 Newbury Street Boston, MA 02116

Date Acquired: August 2007

Location Description:

Located in the historic Back Bay and known as the "Rodeo Drive of the East," Newbury Street serves as Boston's hub of fashion and style, on par with the most exclusive districts of San Francisco, Los Angeles and New York. The street is home to an eclectic mix of independent shops and high-end fashion and dining establishments. 123 Newbury is located on the north side of Newbury Street between Clarendon and Dartmouth Streets in the heart of one of the America's premier luxury shopping thoroughfares.

Building Description:

Built in 1899 and renovated in 1999, 123 Newbury Street is a 6,724 square foot, four-story plus ground level mixed-use building which contains a mix of high-end retailers, office and prime residential space.

The property features brownstone architecture influenced by the Art Nouveau style of the 1920s and is unarguably one of the most attractive buildings in this vibrant neighborhood.

Major Tenants:

Agent Provacateur

L'Elite Boutique

Investment Rationale:

Keep the property’s historically high occupancy by signing early renewals with existing tenants and quickly re-leasing any space that becomes vacant. Capitalize on quality location through market rent growth and develop longer-term appreciation.