459 Washington Street
Boston Downtown Crossing Retail | 5.60% CAP | 3% Annual Increases
Marketing description
Institutional Property Advisors (IPA) is pleased to exclusively present for sale NNN Teso Life located at 459 Washington St Downtown Crossing, a rare opportunity to acquire 20,000 sq ft in Downtown Boston’s most popular retail destination on a 10 year lease with 3% annual increases in rent during the base term and both 5 year options. $13,710,000
Investment highlights
New, long-term, 10-year lease with parent guarantee at $37 psf is about 43% below the market average rent of $65-$75 psf
Rare, 3% annual increases in rent including during the two, five-year option periods
Downtown Crossing is the “Main & Main” location for Boston retail with 22 million annual visitors
Just steps away from the Freedom Trail, a world-renowned, signature tourist experience attracting over 4 million people annually
The adjacent Red & Orange Line subway stop that is only 30 feet from 459 Washington St has the second highest volume in the entire city system with 24,000 people using the stop daily
TESO Life is a popular and trendy Japanese Department Superstore that is rapidly expanding throughout the U.S. with stores recently opened or opening soon in New York, Dallas, Las Vegas, Philadelphia and Orlando. They have chosen to open up their new Flagship Store for Downtown Crossing
A rare opportunity to acquire a critical mass of 20,000 sq ft of retail in downtown Boston
New Tenant with rent commencing on January 1st, 2026 and store opening expected on March 1st, 2026
2.4% Downtown Crossing / CBD Retail Vacancy Rate
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