29 Crafts Street in Newton, Massachusetts, has been sold for $13.9 million to Capasso Realty. The five story asset is anchored by W.T. Rich Company, Steward Health Care System and Capital Advisors Group. Boasting a 190 space on site parking garage, the 66,000 sqf building is located near Interstate 90 (Massachusetts Turnpike) and is within walking distance a commuter rail station. NKF Capital Markets Boston office and Newmark Knight Frank oversaw the sale on behalf of the seller, Chatham Investment.
“Combining stable in-place cash flow with tangible upside potential in a premier Boston suburb, 29 Crafts Street represented a compelling investment opportunity,” said Associate Director Samantha Hallowell, NKF Capital Markets “The asset’s substantial rental rate discount to downtown Boston, walkable amenities and convenient commuter location generate consistent demand from a diverse tenant roster.”
