The sale of a three-story commercial property at 416 West Broadway in South Boston for $15.9 million by Boston Realty Advisors on behalf of Core Investments, Inc. to Egeria Real Estate Investments marks a significant transaction in the urban real estate market. This property, a 25,835-square-foot building with historical significance and modern renovations, underscores the high demand for strategically located commercial spaces in bustling urban areas.
Originally constructed in 1910 and fully renovated in 2018, the building at 416 West Broadway stands as a testament to Boston's traditional industrial architectural style. Its sale price represents a substantial appreciation from its 2015 purchase price of $1.8 million, highlighting the property's value growth over a relatively short period. The building's prime location in South Boston's primary retail corridor, coupled with its diverse tenant mix including Ethos, Caffe Nero, Verizon, Karve Spa, and Barre Groove, made it an attractive investment for Egeria Real Estate Investments.
Kevin Benzinger, Managing Director of Capital Markets for Boston Realty Advisors, emphasized the property's exceptional geographic positioning and tenant diversity as key factors in the transaction. The building's prominent corner position on F Street, adjacent to The Mezz apartments and surrounded by popular restaurants and shops, further enhances its appeal. Historically, the site has undergone multiple transformations, from a residential building in the late 19th century to housing Carey Furniture before its latest commercial incarnation.
This transaction not only reflects the continued attractiveness of well-positioned urban commercial real estate but also Egeria Real Estate Investments' strategy to acquire strategic properties in the Boston market. For more details on the property's features and location, visit https://www.bostonrealtyadvisors.com. The sale serves as a benchmark for the potential of urban commercial properties to appreciate in value, even in challenging market conditions, offering insights for investors and stakeholders in the real estate sector.
