{"id":1004177332,"date":"2017-05-18T08:06:35","date_gmt":"2017-05-18T16:06:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177332"},"modified":"2017-05-18T08:06:35","modified_gmt":"2017-05-18T16:06:35","slug":"bostons-newmarket-center-trades-for-9m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bostons-newmarket-center-trades-for-9m\/","title":{"rendered":"Boston\u2019s Newmarket Center Trades for $9M"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004177333\" style=\"width: 355px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177333\" data-attachment-id=\"1004177333\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bostons-newmarket-center-trades-for-9m\/img_3775\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg\" data-orig-size=\"1428,1071\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Newmarket Center, Boston, Mass.\" data-image-description=\"&lt;p&gt;Newmarket Center, Boston, Mass.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Newmarket Center, Boston, Mass.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg?w=1024\" class=\"wp-image-1004177333 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg\" alt=\"Newmarket Center, Boston, Mass.\" width=\"345\" height=\"259\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg 1428w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/IMG_3775.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 345px) 100vw, 345px\" \/><\/a><p id=\"caption-attachment-1004177333\" class=\"wp-caption-text\">Newmarket Center, Boston, Mass.<\/p><\/div>\n<p>DDJB Real Estate Holdings LLC, an entity affiliated with real estate developer Urban Core Development, announced the off-market sale of Newmarket Center, located at 67 Kemble St. in Boston, for a reported $8.85 million. The buyer was real estate developer The Winhall Cos., a firm that specializes in the acquisition and management of historical Boston multi-tenant office buildings. <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-closes-63m-financing-for-boston-office-buildings\/\">HFF<\/a>\u2019s Ben Sayles and Adam Dunn represented the seller in the transaction, which was financed by a $4.8 million acquisition loan provided by Country Bank for Savings.<\/p>\n<p>Erected in 1880, the building\u00a0first served as a blacksmith shop in Boston\u2019s industrial district, then as a wool storage and sorting warehouse until 1990, when it was abandoned. Urban Core acquired it in 2013 for $1.27 million and redeveloped it, together with Vanko Studio Architects, into a creative, loft-style office building between 2014 and 2016.<\/p>\n<p>The 55,000-square-foot, brick-and-beam construction comprises 23 individual office suites, ranging from 500 to 2,400 square feet. The building features new HVAC and elevators, a lounge and a fully equipped kitchen. It also includes a 22,500\u2013square-foot parking lot with 74 parking spaces. Located in Boston\u2019s Roxbury submarket, it is close to Newmarket rail station and South Bay Center, and it is a short drive away from Downtown Boston and Interstates 90 and 93.<\/p>\n<p>\u201c<em>67 Kemble is a terrific asset that simply couldn\u2019t be replicated today,<\/em>\u201d Sayles said in a prepared statement. \u201c<em>Newmarket might be one of the city\u2019s best-kept secrets\u2014there is so much exciting activity in the submarket. We expect to see significant investment activity going forward.<\/em>\u201d<\/p>\n<p><em>Image courtesy of\u00a0Urban Core Development<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF arranged the sale of the recently redeveloped 55,000-square-foot office building situated in the city\u2019s Roxbury submarket. Prior to the sale, the asset served as a warehouse. It last changed hands in 2013 for $1.27 million.<\/p>\n","protected":false},"author":241,"featured_media":1004177333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21783,21742,10,21747],"tags":[32792,35620,35621],"class_list":["post-1004177332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-investment","category-latest","category-northeast","category-office","tag-hff","tag-urban-core-development","tag-winhall-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boston\u2019s Newmarket Center Trades for $9M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bostons-newmarket-center-trades-for-9m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston\u2019s Newmarket Center Trades for $9M\" \/>\n<meta property=\"og:description\" content=\"HFF arranged the sale of the recently redeveloped 55,000-square-foot office building situated in the city\u2019s Roxbury submarket. 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