459 Washington St
Boston, MA 02111
Teso Life Flagship · Commerce de détail Propriété À vendre

Completely Finished and Recently Renovated LL, 1st and 2nd floors

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.