THE REAL REPORTER 2 April 27, 2015 BRA Gets Second Shot at Gulf Trade BY JOE CLEMENTS B ROOKLINE — The fate of a nondescript gas station set here on the endlessly active corner at Brookline Avenue and Route 9 has taken a Michael d’Hemecourt fresh twist, having been listed by Boston Realty Advisors for owner Cumberland Farms Inc. in spring 2013 before the client changed course and sought town approval to build a new prototype store with Christopher D. Sower fuel pumps. That endeavor, however, was later turned down on the premise, explains Parcel 135, aka 25 Washington St., Brookline MA BRA principal Jason S. deserves a more distinctive future than Weissman, that the plunking down another convenience site’s perceived pedi- store/gas station. gree as gateway to the The upshot? BRA has again been Jason S. Weissman Longwood Medical Area instructed to find a taker for the 18,500-sf parcel that Weissman maintains has been enhanced by the town decision in suggesting a new owner will be blessed with creating a bigger development for a property EXCEPTIONAL LEASING OPPORTUNITY continued on page 36 Contact: Tom Brennan, Broker [email protected] 617-536-4655 300 CAMBRIDGE STREET Located in Boston’s Beacon Hill/West End, 300 Cambridge offers a centralized location for your office or retail business. 19,600sf+/-subdivisible into 4,900 floor plates. Huge 2nd floor windows on busy Cambridge Street provide maximum exposure for your business, and the MGH Red Line T stop across the street makes for an easy commute for your office employees. Full commission paid to cooperating broker. Don’t miss out on this exclusive opportunity. www.ctalanianrealty.com THE REAL REPORTER 36 April 27, 2015 BRA Brookline Listing continued from page 2 Parcel 135 in relation to the Longwood Medical Area, Boston MA anchored by Dana-Farber Cancer Institute tiative aimed at promoting multifamily and so well-regarded it was bought in Sept. development in more communities. To reflect a residential option for 2013 for $121 million—over $700 per sf— Parcel 135, the BRA multiby Clarion Partners, which family practice group is on cited the nearby LMA as a the case, that program led key attraction. We think it is one Deep demand for multiby Christopher D. Sower of the best family units make that use a and including Jennifer development sites Price and Benjamin Karp. valid idea as well, Weissman in the Northeast.’ observes, with many of the BRA President and retail surrounding apartment ace Michael d’Hemecourt is buildings and condominipitching in as well, and ums occupied by LMA financing options are being JASON S. WEISSMAN denizens. The average provided by debt and equiBoston Realty Advisors annual household income ty practice leader Nicholas for the surrounding area is $90,000 and Herz. “It’s a big assignment,” says BRA reports that a 40B residential project Weissman. “We want to get the word out is possible given that Brookline does not to everyone about this amazing opportunimeet the housing affordability target ty coming available again in an absolutely n which would blunt the state-mandated ini- world-class location.” “ COMMERCIAL + RESIDENTIAL PHOTOGRAPHY ” INTERIOR PHOTOGRAPHY SERVICES whose current allowed floor-area-ratio is 1.0. “Given the recent developments in this vicinity, there is a strong possibility of achieving a higher FAR,” BRA conveys in new marketing materials peddling what is being called “Parcel 135” via a proposal being rolled out this week, with site visits to follow and final bids accepted shortly after that process. In acknowledging that the asset is again available for sale by his Boston-based firm, Weissman says the BRA Capital Markets team is “ecstatic” at having another chance to market the property, especially in a much-stronger economic climate. “We think it is one of the best Nicholas M. Herz development sites in the Northeast,” Weissman declares, doing so based on the message being ostensibly sent by the town combined with functional benefits of Parcel 135 such as being at a signalized intersecJennifer Price tion and a lot that “provides exceptional visibility and immediate access to the area’s most heavily trafficked roadways,” with 20,000 vehicles passing by on a daily basis. One of the thoroughfares, Brookline Avenue, leads directly to the 215-acre LMA that houses some of the world’s leading medical institutions in 15.5 million sf used by over 50,000 healthcare professionals and their patients. Multiple MBTA bus routes connect the two areas which are a mere 10-minute walk away, not to mention the Gulf station at 25 Washington St. is also part of the eclectic Brookline Village business district that features the MBTA Green Line trolley connecting to Longwood, downtown Boston and Cambridge. “There are a ton of possibilities,” Weissman says of potential concepts for Parcel 135, among the most intriguing being medical office space that could serve as an overflow to the exceedingly tight LMA inventory—in one estimate sporting a mere 2 percent vacancy. The notion is further validated in the neighborhood’s Ten Brookline Place office building, a 175,000-sf structure nd North E 12 June 20 AERIAL PHOTOGRAPHY SERVICES 617.435.9214 DEREKSZABO.COM
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