{"id":1004360660,"date":"2019-10-16T05:24:00","date_gmt":"2019-10-16T13:24:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004360660"},"modified":"2019-10-16T06:33:09","modified_gmt":"2019-10-16T14:33:09","slug":"nuveen-strengthens-boston-presence","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/","title":{"rendered":"Nuveen Boosts Boston Presence"},"content":{"rendered":"<div id=\"attachment_1004360678\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004360678\" data-attachment-id=\"1004360678\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/350-washington\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\" data-orig-size=\"800,558\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Adriana Pop&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1571238109&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=\"350 Washington\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;350 Washington. Image courtesy of Nuveen Real Estate&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg?w=800\" class=\"wp-image-1004360678 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\" alt=\"\" width=\"300\" height=\"209\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg?resize=300,209 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg?resize=768,536 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004360678\" class=\"wp-caption-text\">350 Washington. <em>Image courtesy of Nuveen Real Estate<\/em><\/p><\/div>\n<p>Nuveen Real Estate, a global real estate investment management firm and one of the largest stakeholders in the Boston area, has acquired 350 Washington, a 147,273-square-foot, Class A flagship retail asset in the Downtown Crossing submarket of Boston. The property is anchored by Marshall\u2019s, HomeGoods, TJ Maxx and Boston Sports Club, which is located on the top floor of the four-story building.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/nuveen-crescent-communities-buy-charlotte-office-tower\/\">Nuveen, Crescent Communities Buy Charlotte Office Tower<\/a><\/p>\n<hr>\n<p>Nuveen, the investment management arm of TIAA, did not release the name of the seller or the price. However, the asset is listed on the web site of Invesco Real Estate Advisors as a property set for disposition as of September. Invesco acquired 350 Washington in 2011 for $128 million from Real Estate Capital Partners, which made the purchase on behalf of two German funds, according to media reports at the time.<\/p>\n<p>Situated in the heart of Boston\u2019s downtown urban core, the property serves as a gateway to both the Back Bay and city\u2019s Financial District. Thousands of pedestrians walk past the building every day. Manuel Martin, head of US Retail at Nuveen Real Estate, said in a prepared statement the property has a strong tenant credit profile and is in a dominant retail area with exposure to office, residential and tourist traffic. He said 350 Washington provides Nuveen an attractive risk-adjusted return. The site had previously operated as the flagship store in Boston for F.W. Woolworth Co. for decades, before it was redeveloped as a multi-tenant retail asset in 2004.<\/p>\n<h2><strong>Large stakeholder<\/strong><\/h2>\n<p>One of the largest stakeholders in the area, Nuveen has $3.2 billion in debt and equity investments under management in Boston. Most of the assets are office and retail properties, including 33 Arch St., a 603,309-square-foot, 33-story Class A office building acquired in 2011 by TIAA-CREF.<\/p>\n<p>The firm owns more than 96 retail assets throughout the U.S. and has about $130 billion in assets under management. Last week, Nuveen made news with the purchase of a 29 million-square-foot portfolio of U.S. industrial properties from Blackstone in <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-3b-logistics-portfolio\/\">a deal valued at $3 billion<\/a>. The portfolio consists of more than 100 bulk logistics, light industrial and urban infill properties. Nuveen manages about 17.2 billion square feet of logistics assets globally.<\/p>\n<p>Earlier this month, Nuveen sold Township Apartments, a 132-unit upscale community in Redwood City, Calif., to Essex Property Trust for $88.7 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has acquired 350 Washington, a Downtown Crossing retail property that has several major anchors including Marshall\u2019s HomeGoods, TJ Maxx and Boston Sports Club.<\/p>\n","protected":false},"author":1068,"featured_media":1004360678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21808,21783,21742,10,21749],"tags":[33882,43901,47435,33460],"class_list":["post-1004360660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-featured","category-investment","category-latest","category-northeast","category-retail","tag-invesco-real-estate","tag-nuveen-real-estate","tag-real-estate-capital-partners","tag-tiaa"],"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>Nuveen Boosts Boston Presence - 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\/nuveen-strengthens-boston-presence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nuveen Boosts Boston Presence\" \/>\n<meta property=\"og:description\" content=\"The company has acquired 350 Washington, a Downtown Crossing retail property that has several major anchors including Marshall\u2019s HomeGoods, TJ Maxx and Boston Sports Club.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-16T13:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-16T14:33:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"558\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/\",\"name\":\"Nuveen Boosts Boston Presence - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\",\"datePublished\":\"2019-10-16T13:24:00+00:00\",\"dateModified\":\"2019-10-16T14:33:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/350-Washington.jpg\",\"width\":800,\"height\":558,\"caption\":\"350 Washington. Image courtesy of Nuveen Real Estate\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-strengthens-boston-presence\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nuveen Boosts Boston Presence\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. 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