South Boston Commercial Property Sells for $15.9 Million, Exceeding Market Expectations

Boston Realty Advisors has successfully represented Core Investments, Inc. in the sale of a notable South Boston commercial property at 416 West Broadway for $15.9 million, a significant increase from its 2015 purchase price of $1.8 million.

The three-story, 25,835-square-foot brick and beam building, originally constructed in 1910 and comprehensively renovated in 2018, attracted Egeria Real Estate Investments as its new owner. The property's strategic location in South Boston's primary retail corridor and its diverse tenant mix contributed to its exceptional market value.

Kevin Benzinger, Managing Director of Capital Markets for Boston Realty Advisors, emphasized the property's unique attributes, noting its geographic positioning and high-quality tenancy as key factors in attracting the buyer. Current tenants include prominent businesses such as Ethos, Caffe Nero, Verizon, Karve Spa, and Barre Groove.

The sale represents a notable achievement in the current real estate market, which has been experiencing significant challenges. Unlike many commercial properties struggling to maintain value, 416 West Broadway demonstrated substantial appreciation, signaling potential opportunities for strategic real estate investments in carefully selected urban locations.

Historically, the site has transformed multiple times, transitioning from a residential building in the late 19th century to a former furniture store, and subsequently serving various commercial purposes. Its current iteration as a meticulously renovated commercial space reflects the ongoing evolution of South Boston's urban landscape.

Egeria Real Estate Investments, with existing properties in Boston and international holdings in the Netherlands and Germany, continues to expand its portfolio by acquiring strategically positioned urban real estate assets. The company's previous acquisition of the Whitney Hotel on Charles Street, also facilitated by Boston Realty Advisors, underscores its consistent investment strategy in the Boston market.

This transaction provides valuable insights for human resources professionals and business leaders, highlighting the importance of location, property renovation, and strategic tenant selection in commercial real estate investments. The sale demonstrates that even in challenging market conditions, properties with distinctive characteristics and prime locations can generate significant value and attract sophisticated investors.