Israeli Investor Pays $51M For Uniqlo Building In First Newbury Street Buy
A year after arriving in Boston, an Israeli retail investment firm has made its Newbury Street debut.
Gazit Globe acquired 341 Newbury St. for $51M in a deal brokered by The Dartmouth Co. The 49K SF, six-story building includes a 98-space parking garage and retail space currently leased to Japanese fast fashion brand Uniqlo and fitness studio SLT.
Uniqlo and SLT signed leases after the first and second floors of the property, also known as the Danker & Donohue Garage, were converted into about 10K SF of retail in 2016.
Gazit made its Boston debut in January 2018 with the $25M acquisition of 41 Winter St., a 30K SF retail building in Downtown Crossing. It has since acquired 467 Washington St. and 43 Winter St., two other retail properties in the same neighborhood.
