GLL Real Estate Partners Acquires 8 Newbury St Office Building For $42.4M

Located at 8 Newbury St in Boston, MA, this 17,023-square-foot office and retail building was sold for $42,400,000. A Rolex flagship store occupies the ground- and second-floor retail spaces of the property, originally built in the 1920s.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $42,400,000.00
• Market: Boston
• Seller's Representative: Robert Griffin(Newmark)
• Buyer: GLL Real Estate Partners
• Seller: UrbanMeritage
• Square Footage: 17,023 SF

Newmark Knight Frank, represented by Robert Griffin, Geoffrey Millerd, and Paul Penman, facilitated the sale of the property. The seller, a joint venture between UrbanMeritage and L&B Realty Advisors, was connected with the buyer, a partnership between Chile-based family office Corso and GLL Real Estate Partners, an international real estate fund manager headquartered in Germany.