Boston – City Realty Group announces its acquisition of 186 Lincoln Street, a 73,000sf class B office building in Downtown Boston, for $11 million. Anchored by long term tenants such as CozyKin, SmartSense by Digi, Full Contact Advertising, and Mightier, the building has been a fixture of Boston’s Leather District for more than a century.
The acquisition was made as part of City Realty’s strategy of acquiring and stabilizing commercial properties in strong urban locations by investing in quality-of-life improvements for its tenants and prioritizing top tier customer service in its management. The focus is on updating aging, legacy office properties to meet the needs of the modern, hybrid work environment.
“Our goal is always to be the best option for tenants looking for space in our neighborhoods,” said Steve Whalen, managing partner at City Realty. “By being flexible and responsive to tenants’ needs, we seek to form long term, mutually beneficial partnerships.”
In addition to a refresh of the building’s existing spaces, City Realty plans to add top quality amenities to the building including fitness rooms, locker rooms including showers, bike repair and storage facilities, and a tenant lounge/game room.
The property is in close proximity to South Station and its Red Line and Commuter Rail stops, and to I-93 and the Mass Pike. It is also a short drive to Boston Logan International Airport. It is in walking distance to Chinatown, the Theater District, Tufts Medical Center, the Rose Kennedy Greenway, and the Seaport District, and includes restaurant staples such as Offsuit, Troquet on South, The Corner Pub, and O Ya.
“We are thrilled to have the opportunity to unlock this beautiful building’s full potential,” said Fred Starikov, managing partner at City Realty. “We can’t wait for 186 Lincoln to be a fixture of this thriving commercial corridor for generations to come!”
The acquisition of 186 Lincoln Street was financed by Mechanics Cooperative Bank and brokered by Newmark. Leasing is also being managed by Newmark, with 1,500-30,000sf available for lease.