Colliers International’s Capital Markets Group announced today that they will bring to market a capital/joint venture or ground lease investment opportunity for a 1.81 acre site in Boston’s transitioning Dorchester neighborhood, where strong transportation infrastructure and surrounding community amenities has given rise to heightened demand. The site’s location at 780 Morrissey Boulevard provides incredible visibility along the Expressway (I-93) and a location just five miles south of downtown Boston.
Current project ownership, Bay Colony Associates LLC, is seeking a partner who can capitalize on potential development rights in excess of 150,000 square feet. “We are seeing developments achieve rents of over $4.00 per square foot in this submarket,” noted team leader senior vice president Christopher Sower. “That level of rent growth, in combination with the amount of activity already underway in this neighborhood, will likely pique a lot of people’s interest.”
Working with the Multifamily Investment Sales Team are Investment Sales executive vice president Scott Dragos, Capital Markets executive vice president Jeff Black, and Urban Brokerage senior vice president Dan Collins.
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