New Balance Development Secures $112M for Boston Landing Property
The eight-story 80 Guest St. features more than 200,000 square feet of high-ceiling, office and lab space averaging an open 28,000-square-foot floor plate above 15,000 square feet of amenity retail.
BOSTON—New Balance Development Group has secured first mortgage financing of $111.5 million for 80 Guest St., a 245,720-square-foot complex in the Boston Landing development in Allston/Brighton.
The funding was announced by Holliday Fenoglio Fowler, L.P., which arranged the fixed-rate loan for NB Development Group through MetLife Investment Management.
80 Guest St. was the second asset to deliver in Boston Landing in September 2016. The eight-story 80 Guest St. features more than 200,000 square feet of high-ceiling, office and lab space averaging an open 28,000-square-foot floor plate above 15,000 square feet of amenity retail.
The property, designed by architecture firm Elkus Manfredi, is fully leased to four office tenants and three ground floor restaurant tenants, including Bose, Boston Bruins, Roche and Proteostasis.
The complex also includes a 55,000-square-foot Warrior Ice Arena, which serves as the practice facility for the Boston Bruins NHL franchise.
Boston Landing, home to New Balance’s world headquarters, will ultimately consists of 1.9 million square feet of office, retail, residential and hotel space when fully built-out.
The HFF debt placement team was led by executive managing director John Fowler, senior managing director Riaz Cassum and associates Sam Campbell and Henry Schaffer. Jim Halliday, managing director of NB Development Group, and Kevin Doyle, treasurer at New Balance, led the borrower team in the transaction.