NTT Urban Development Corporation (head office: Chiyoda-ku, Tokyo; President and Chief Executive Officer; Sadao Maki) has acquired an office building "185 Dartmouth Street" in Boston, Massachusetts, through its local subsidiary, UD USA Inc.
This property is located in the Back Bay area, a lush, green and high-end retail zone in Boston. "185 Dartmouth Street" provides convenient access to public transportation located close to 2 subway lines and Amtrak. Within walking distance are Newbury Street, a street lined with historical brick buildings, and Boylston Street where desirable small and mid-sized office buildings are located with shops and restaurants. "185 Dartmouth Street" is adjacent to a large-scale commercial facility currently under renovation and a park, offering a full range of attractive amenities for office workers of the wide range of tenants occuping the building.
NTT Urban Development will enhance its profit revenue with this acquisition, and will continue to develop and expand the real estate business in the US.
■Outline of Property
|Property name||185 Dartmouth Street|
|Location of property||185 Dartmouth Street, Boston, MA|
|Constructed||1937/Renovated 1989, 2013, 2014|
|Floors||11 floors above ground, 2 floors below ground|
|Rentable area||164,671 sf (approximately 15,298 m2)|
|"185 Dartmouth Street" was acquired jointly with a real estate operator Synergy Investments in Boston. Other joint ventures with Synergy are "27 School Street", "141 Tremont Street" (Jan. 2015) and "Two Oliver Street" (July 2015).|
[Photo of Exterior]