Marcus Partners has acquired Horticultural Hall, a mixed-use property located in Boston’s Back Bay. No financial terms were disclosed.
BOSTON, MA – Marcus Partners is pleased to announce the acquisition of 300 Massachusetts Avenue (“Horticultural Hall”), an architecturally distinctive 45,000 SF mixed-use property located at the intersection of Huntington Avenue and Massachusetts Avenue in Boston’s Back Bay. Occupying a prime corner lot, this jewel box building is well-situated for a wide variety of users, including office, retail, and institutional use.
“Tenants are increasingly being drawn to this corner of the Back Bay, with the significant renovations occurring on the adjacent Christian Science Plaza, the arrival of the new Four Seasons Hotel, Flour Bakery, the vibrancy and energy created by the adjacent institutions all really differentiate this location as a magnet for creative and tech companies. 300 Mass Avenue offers all of those adjacencies and a wholly unique and architecturally significant environment that will be dramatically upgraded,” said Pete Cameron, a Principal with Marcus Partners.
Nestled within an area dominated by prominent cultural and educational institutions (such as the Boston Symphony Orchestra, the Huntington Theatre, the Museum of Fine Arts, Northeastern University, and Wentworth Institute of Technology), 300 Massachusetts Avenue abuts a significant level of new development, including a 61-story Four Seasons hotel and residences as well as 30 Dalton, a recently completed 218-unit luxury residential and retail property. 300 Massachusetts Avenue is located directly adjacent to two MBTA subway stations, providing exceptional access throughout Downtown Boston and Cambridge, while major highways such as I-90 and I-93 are minutes away. Tenants at 300 Massachusetts Avenue also benefit from countless neighborhood amenities, including a wide variety of dining, shopping, and entertainment destinations.
A unique, Beaux Arts brick and stone structure with oversized ornate windows, 300 Massachusetts Avenue
has earned a spot on the National Historic Register for both its architectural appeal and historic significance. Both institutional and creative tenants currently occupy the property, which offers a variety of tenant space types, facilitated by the property’s tall ceilings and oversized windows. Marcus Partners has planned a multi-million dollar capital program to further increase the property’s appeal for the creative, technology, and institutional users currently driving the market. The program includes a fully renovated lobby and restrooms, upgraded entrances, and mechanical systems upgradesto fully modernize the facility.
Marcus Partners is currently investing its fully discretionary $250 million Marcus Capital Partners Fund II, LP, pursuing a mix of strategic and opportunistic investment strategies. It is seeking well-located commercial office, medical office, industrial, research and development, and life science properties located along the East Coast. It currently owns and/or manages a diversified portfolio that includes approximately 4.5 million square feet of commercial real estate.
ABOUT MARCUS PARTNERS
Marcus Partners is a value-oriented real estate investor, operator and redeveloper based in Boston, Massachusetts, with regional offices in Norwalk, Connecticut and Secaucus, New Jersey. The firm invests in real estate and related assets through its fully discretionary $250 million Marcus Capital Partners Fund II, L.P., pursuing a mix of strategic and opportunistic investment strategies. It currently owns, manages, or owns and manages a diversified portfolio that includes approximately 4.5 million square feet of office, medical office, research and development, warehouse and industrial properties located along the East Coast. For more information about Marcus Partners, please visit www.marcuspartners.com