NKF Completes Sale of 15,800 SF CommAve. Retail Asset

January 23, 2018 - By The Real Reporter

957 Commonwealth Avenue, Brighton MA

BOSTON— On behalf of J. & M. Realty, Inc., NKF Capital Markets recently completed the sale of 957 Commonwealth Avenue in Brighton to Nolan Properties Group, LLC. Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith, Associate Director Paul Penman and Financial Analyst Christian Brannelly of the NKF Capital Markets Boston office, oversaw the transaction of the 15,800-square-foot asset.

Having been privately owned and operated under the same ownership since 1983, 957 Commonwealth Avenue has consistently attracted service-oriented retailers seeking exposure along one of Boston’s most vibrant areas. “As a campus-oriented retail asset positioned in the heart of Boston’s most densely-populated communities for students and young professionals, 957 Commonwealth Avenue represented a generational opportunity,” Smith lauds. “Furthermore, the asset’s long-term viability is solidified by the combination of perpetual demand drivers in the area, highlighted by Boston University, the MBTA Green Line, and strong local demographics.” NKF ultimately took pride in the completion of this transaction and its ability to market the asset based on its history of success as an investment.

The building’s location on the edge of Boston University’s campus played a significant role in attracting the seller, who recognized the benefits afforded by the university’s 33,100 students, 10,000 faculty/staff, and tens of thousands of annual visitors. Further, the Commonwealth Avenue address provided more reassurance in the strength of the asset given the street’s reputation as a major local thoroughfare and vibrant retail destination conveniently located directly across from the MBTA Green Line’s Pleasant Street stop.