300 Massachusetts Avenue (Horticultural Hall)

Northeastern Acquires Building for $22 Million

Marcus Partners has sold 300 Massachusetts Avenue (“Horticultural Hall”), an architecturally distinctive 45,000 square foot mixed-use property located at the intersection of Huntington Avenue and Massachusetts Avenue in Boston’s Back Bay to Northeastern University for $22 million. Before selling the property, Marcus Partners completed an extensive capital program that fully restored and modernized the historic building including a striking renovation of the lobby and significant upgrades to the interiors and mechanical systems.

“This property, known as Horticultural Hall, is both historically and architecturally significant for the City of Boston,” said Peter Cameron, a Principal with Marcus Partners.  “We were lucky to have the opportunity to purchase this facility from the Christian Science Church and we’re happy they trusted us with the property that sits directly on the newly renovated Christian Science Plaza.  It was a thrill to help restore and bring new life to the property. Finally, we are pleased that Northeastern is the new owner as they are a first-class institution across the board who will undoubtedly be great stewards of this gem for years to come.  This is a real win for all parties.”

Marcus Partners purchased the property in 2017. 300 Massachusetts Avenue is 100% leased to four tenants, with Boston Magazine occupying approximately 40% of the building. This transaction is representative of Marcus’ strategy to identify unique, underutilized properties and work with the community and all stakeholders to enhance both their value and appeal.

Marcus Partners acquires Back Bay's Horticultural Hall, plans multi-million-dollar repositioning

Marcus Partners, a local real estate investor, operator and redeveloper, has acquired the Back Bay's ornate 45,000-square-foot Horticultural Hall office building, located at the key intersection of Huntington Avenue and Massachusetts Avenue overlooking Christian Science Plaza, for an undisclosed sum. Marcus has planned a multi-million-dollar capital program to reposition and modernize Horticultural Hall for modern creative, technology and institutional tenants; the program will include a fully renovated lobby and restrooms, upgraded entrances and mechanical systems improvements. Marcus has acquired $11.485 million of financing for Horticultural Hall through Cambridge Savings Bank.

“Tenants are increasingly being drawn to this corner of the Back Bay. With the significant renovations occurring on the adjacent Christian Science Plaza, the arrival of the new Four Seasons Hotel, Flour Bakery, the vibrancy and energy created by the adjacent institutions all really differentiate this location as a magnet for creative and tech companies," said Marcus Partners Principal Pete Cameron in a prepared statement. "[Horticultural Hall] offers all of those adjacencies and a wholly unique and architecturally significant environment that will be dramatically upgraded.” Horticultural Hall's seller, The First Church of Christ, Scientist, acquired Horticultural Hall in March 1992 for $1.625 million, or $36.11 per square foot, from the building's original builder, the Massachusetts Horticultural Society.