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TH Real Estate acquires Newbury Street retail condo and Northborough industrial asset

201 Newbury Street, Boston

TH Real Estate has acquired a retail condominium at 201 Newbury Street (at the corner of Exeter Street) in the heart of Boston’s Back Bay submarket, and in a separate transaction, has also acquired One Beeman Road, an industrial distribution facility located in Northborough, MA.

201 Newbury Street is a 25,000 sq ft (c.2,323 sq m) property 100% occupied by six tenants: Anthropologie, Dr. Martens, Timberland, Francesca’s, Jacadi and Ted Baker.

"The Back Bay is one of the most sought-after retail destinations in Boston, if not the country, given the critical mass of best-in-class tenants, the foot traffic and the area’s demand-drivers," said Todd Rollins, Senior Director, at TH Real Estate. "This historic corner property has a classic Victorian brownstone façade with excellent storefronts and visibility, making it a diamond amongst the many jewels along Newbury Street. We see the potential for strong capital appreciation and an opportunity to proactively manage the merchandising mix and enhance revenue in coming years."

One Beeman Road is a 342,900 sq ft (c.31,773 sq m) industrial distribution facility located in Northborough, MA. One hundred percent leased to FedEx Smartpost, the property is strategically located in close proximity to a number of key distribution channels and boasts in-demand physical characteristics such as energy efficient lighting and high clearances.

"We are one of the largest stakeholders in the Boston area across our extensive debt and equity portfolios. Our investments span core, value-add and opportunistic styles and include the retail, office, industrial and multifamily sectors. These two assets are great additions to the mix," said Sam Flood, Senior Director and Head of the Boston and Mid-West regions for TH Real Estate.

Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. COMP201700241

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