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459 Washington St
Boston, MA 02111
Teso Life Flagship · Retail Property For Sale
Investment Highlights
- • Generational Opportunity to Acquire Teso Life, a Rapidly Growing National Asian Retailer Located in Boston's Downtown Crossing
- • 3% Annual Increases Over 20 Yrs
- • 22 Million Annual Visitations to Downtown Crossing
- • 10 Yr NNN Lease | Corporate Guarantee
- • Rent 40% Below Market
- • Enormous 3 Mile Daytime Population: 1,139,731
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 6.00% |
| Sale Type | Investment |
| Cap Rate | 6.00% |
Description
Completely Finished and Recently Renovated LL, 1st and 2nd floors
Sale Notes
Institutional Property Advisors (IPA) is pleased to exclusively present for sale Teso Life located at 459 Washington Street, a rare opportunity to acquire 20,000 sq ft in Downtown Crossing, Boston’s most popular retail destination
Downtown Crossing is the “Main & Main” location for Boston retail with 22 million annual visitors, and 459 Washington Street is the “Main & Main” location within Downtown Crossing, directly across the street from Macy’s and Primark.
Just steps away from the Freedom Trail, a world-renowned, signature tourist experience attracting over 4 million people annually.
The adjacent Red & Orange Line subway stop that is only 30 feet from 459 Washington Street has the second highest volume in the entire city system with 24,000 people using the stop daily.
TESO Life is a popular and trendy Japanese Department Superstore that is rapidly expanding throughout the U.S. with stores recently opened or opening soon in New York, Dallas, Las Vegas, Philadelphia and Orlando. They have chosen to open up their new Flagship Store for Downtown Crossing.
New, long-term, 10-year lease with parent guarantee at $37 psf is about
40% below the market average rent of $65-$75 psf for multi-?oor space.
Rare, 3% annual increases in rent including during the two, ?ve-year
option periods.
A rare opportunity to acquire a critical mass of 20,000 sq ft of retail condo in downtown Boston with minimal LL responsibility. Nine stories and 41 residential units above are fully responsible for roof and common areas.
2.4% Downtown Crossing / CBD Retail Vacancy Rate.
Downtown Crossing is the “Main & Main” location for Boston retail with 22 million annual visitors, and 459 Washington Street is the “Main & Main” location within Downtown Crossing, directly across the street from Macy’s and Primark.
Just steps away from the Freedom Trail, a world-renowned, signature tourist experience attracting over 4 million people annually.
The adjacent Red & Orange Line subway stop that is only 30 feet from 459 Washington Street has the second highest volume in the entire city system with 24,000 people using the stop daily.
TESO Life is a popular and trendy Japanese Department Superstore that is rapidly expanding throughout the U.S. with stores recently opened or opening soon in New York, Dallas, Las Vegas, Philadelphia and Orlando. They have chosen to open up their new Flagship Store for Downtown Crossing.
New, long-term, 10-year lease with parent guarantee at $37 psf is about
40% below the market average rent of $65-$75 psf for multi-?oor space.
Rare, 3% annual increases in rent including during the two, ?ve-year
option periods.
A rare opportunity to acquire a critical mass of 20,000 sq ft of retail condo in downtown Boston with minimal LL responsibility. Nine stories and 41 residential units above are fully responsible for roof and common areas.
2.4% Downtown Crossing / CBD Retail Vacancy Rate.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1A | 20,000 SF | Retail | Upon Request | $1,108,250.78 CAD |
Unit 1A
| Unit Size |
| 20,000 SF |
| Condo Use |
| Retail |
| Price |
| Upon Request |
| NOI |
| $1,108,250.78 CAD |
1 of 0
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Unit 1A
| Unit Size | 20,000 SF |
| Condo Use | Retail |
| Price | Upon Request |
| NOI | $1,108,250.78 CAD |
| Sale Type | Investment |
| Cap Rate | 6.00% |
| Description | |
| Completely Finished and Recently Renovated LL, 1st and 2nd floors</li></ul> | |
| Sale Notes | |
| Institutional Property Advisors (IPA) is pleased to exclusively present for sale Teso Life located at 459 Washington Street, a rare opportunity to acquire 20,000 sq ft in Downtown Crossing, Boston’s most popular retail destination<br> <br> Downtown Crossing is the “Main & Main” location for Boston retail with 22 million annual visitors, and 459 Washington Street is the “Main & Main” location within Downtown Crossing, directly across the street from Macy’s and Primark.<br> <br> Just steps away from the Freedom Trail, a world-renowned, signature tourist experience attracting over 4 million people annually.<br> <br> The adjacent Red & Orange Line subway stop that is only 30 feet from 459 Washington Street has the second highest volume in the entire city system with 24,000 people using the stop daily.<br> <br> TESO Life is a popular and trendy Japanese Department Superstore that is rapidly expanding throughout the U.S. with stores recently opened or opening soon in New York, Dallas, Las Vegas, Philadelphia and Orlando. They have chosen to open up their new Flagship Store for Downtown Crossing.<br> <br> New, long-term, 10-year lease with parent guarantee at $37 psf is about <br> 40% below the market average rent of $65-$75 psf for multi-?oor space.<br> <br> Rare, 3% annual increases in rent including during the two, ?ve-year <br> option periods.<br> <br> A rare opportunity to acquire a critical mass of 20,000 sq ft of retail condo in downtown Boston with minimal LL responsibility. Nine stories and 41 residential units above are fully responsible for roof and common areas.<br> <br> 2.4% Downtown Crossing / CBD Retail Vacancy Rate.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 97,728 SF | Floors | 11 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 9,000 SF |
| Property Subtype | Apartment | Year Built | 1900 |
| Building Class | B | Lot Size | 0.47 AC |
| Zoning | MC - Midtown Cultural District | ||
| Total Building Size | 97,728 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 11 |
| Typical Floor Size | 9,000 SF |
| Year Built | 1900 |
| Lot Size | 0.47 AC |
| Zoning | MC - Midtown Cultural District |
Amenities
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Elevator
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 20 | - | - |
| 2+2 | 21 | - | - |
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
