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Sat, Jul 20
A Compendium of Property & Capital News
Sat
Jul 20
A Compendium of Property & Capital News

Marketplace Center in Faneuil Hall Trades to Gazit Horizon for $81.8M

April 24, 2019 - By The Real Reporter
Marketplace, Faneuil Hall, Boston MA

​BOSTON–Gazit Globe (TASE: GZT), a leading global real estate company with ownership of shopping centers and mixed-use properties has quickly added to its newly purchased Boston portfolio, announcing that its wholly-owned subsidiary, Gazit Horizons, Inc., has bought Marketplace Center, the 62,0000 square foot retail condominium positioned directly on the Rose Kennedy Greenway for $81,800,000. Adjacent to Faneuil Hall Marketplace, the building is 100% leased to a mix of retail and office tenants, including Banana Republic, LOFT, and American Eagle.

“Marketplace Center sits at a highly valued intersection of public space and mass transit, and benefits from tremendous pedestrian traffic and visibility,” said Jeff Mooallem, CEO of Gazit Horizons, in a prepared statement. “We are very excited to be stewards of this prominent location along the Greenway and look forward to continuing to grow our portfolio in Boston.”

As first reported in December by Real Reporter (see story here) Gazit has been making quick inroads to the Boston market with a $24 million spending-spree of mixed-use assets on Newbury Street along with an iconic Harvard Square purchase.