The John Hancock Life Insurance Company has closed on the purchase of 535-545 Boylston Street in Boston, Massachusetts for $100.5 million. The 184,642 sqf acquisition boasts a prominent corner location within Boston’s highly-desirable and exclusive Back Bay neighborhood. The mixed-use asset is currently 87 percent leased with notable tenants including TD Bank and GNC. The 13-story office and retail asset was held in the portfolio of a separate account advised by Clarion Partners. NGKF Capital Markets Boston team oversaw the transaction.
“Firmly situated among the Back Bay’s top Class B assets, 535-545 Boylston Street offers ideally-sized, flexible floor plates that can accommodate a wide variety of tenant requirements,” said Executive Managing Director Matthew Pullen, NGKF Capital Markets. “Consequently, the property is well suited to benefit from the Back Bay’s rising-rent environment and consistently strong demand.”
