Boston Ballet signs 26,550-square-foot lease in Newton, MA
Avison Young serves as landlord representative
Boston, MA (October 12, 2016) — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that Boston Ballet, the internationally acclaimed ballet company, has leased 26,550 square feet (SF) at Newton Nexus, a dynamic 142,000 SF new mixed-use development located at 141-165 Needham Street in Newton, MA.
Avison Young Principals Jack Kerrigan and Keith Gurtler, along with Senior Vice-President Mark Coelho, who are based in the firm’s Boston office, represented the landlord, Crosspoint Associates, Inc., in the transaction.
Boston Ballet will relocate the Boston Ballet School Newton Studio from its current location at 863 Washington Street in Newton to 153 Needham Street in the summer of 2017. The new location will allow for extended programming with a total of seven studios, and will better serve the community with more space, parking, accessibility and amenities. This expansion and relocation will provide students and parents a new, state of the art studio, all while maintaining their already established rapport with the community.
Located just off I-95 in Newton, Newton Nexus is a vibrant new development that will become a premier community-oriented retail destination filling the demand for dining, shopping and community engagement offerings in the N2 Innovation Corridor. The project is located within walking distance to numerous restaurants and retail shops, as well as the MBTA Green Line.
“We are pleased to welcome the Boston Ballet to Newton Nexus as the studio’s mission of enhanced community service aligns perfectly with our goals for this project,” said Jonathan Hueber, Director of Acquisitions and Leasing for Crosspoint. “We look forward to integrating them into our diverse tenant mix of retail, dining, and community offerings.”
With the addition of the Boston Ballet, Newton Nexus is 85% leased. Confirmed tenants include TJ Maxx, which will take on 32,000 sf in 141 Needham Street; bfresh, which will be located in 21,000 sf at 165 Needham Street; and Sierra Trading Post, which will open 18,500 sf in 141 Needham Street. Additionally, Qdoba, Boston Ski & Tennis, and Anthony’s Coal Fired Pizza will join the Newton Nexus community.
About Crosspoint Associates, Inc.
Headquartered in Waltham, MA, Crosspoint Associates, Inc. specializes in the ownership, management and development of commercial properties throughout New England. Established in 1989, Crosspoint is a vertically integrated firm with over 2.5 million square feet of commercial and retail space under management.
About Boston Ballet
Since 1963, Boston Ballet’s internationally acclaimed performances of classical, neo-classical, and contemporary ballets, combined with a dedication to world class dance education and community initiative programs, have made the institution a leader in its field, with a 53-year history of promoting excellence and access to dance.
Under the leadership of Artistic Director Mikko Nissinen and Executive Director Max Hodges, the Company maintains a diverse repertoire, ranging from full-length ballets to new works by some of today's finest choreographers. Boston Ballet's second company, Boston Ballet II, is comprised of dancers who gain experience by performing with the Company and independently, presenting special programs to audiences throughout the Northeast.
Boston Ballet School, the official school of Boston Ballet, has a long-standing dedication to providing exceptional dance education and ballet training to students across three studios in Boston, Newton, and the North Shore. Led by Director Margaret Tracey, the School reaches more than 5,000 students (toddler to adult) each year through its four core programs: Children’s Program, Classical Ballet Program, Adult Dance Program, and Pre-Professional Program.
Boston Ballet’s Department of Education and Community Initiatives (ECI) provides programming, events, and activities that connect the community to dance. ECI reaches more than 4,000 individuals in Boston, North Shore, and the surrounding communities each year through Citydance, ECI on Location, Adaptive Dance, and other community programs.
For more information, please visit bostonballet.org.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 78 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
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