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Harvard University Sells 7-Acre Brighton Mills Retail Plaza For $39 Million
SOLD
$39,000,000
Massachusetts
See Similar DealsRetail
Sold 10/27/2025
SOLD
Harvard University Sells 7-Acre Brighton Mills Retail Plaza For $39 Million
304 Western Avenue & 370 Western Avenue
See Similar DealsRetail
Sold 10/27/2025
Summary
MASSACHUSETTS
Asset Type:Retail
Transaction Type:Sale
The retail asset involved in the transaction is a 7-acre site located at 304-370 Western Avenue in Brighton, MA. Harvard University sold the property for $39 million. The site features notable anchors such as Star Market, Petco, and McDonald’s, suggesting strong redevelopment potential along the walkable corridor of Western Avenue.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $39,000,000
- Seller: Alan M. Garber - Harvard University
- Asset Size: 7 acres
- Address: 304-370 Western Avenue
- Market: Brighton, MA
The transaction emphasizes the strategic decision-making of Harvard University in expanding its asset portfolio by selling a prime retail location. Alan M. Garber was involved in representing Harvard University during this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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