East-Boston-OM

First page 1 Next page Last page

BREMEN & ORLEANS EAST BOSTON DEVELOPMENT OPPORTUNITY

CONFIDENTIAL OFFERING MEMORANDUM

303 Congress Street | Boston, MA 02210 | 617.457.3400 | hunnemanre.com

BREMEN EAST B DEVELOPMENT

CONTENTS

3 4 8

16 SI TE OVERVI EW 20 BOSTON MARKET OVERVI EW 22 EAST BOSTON MARKET OVERVI EW 24 BLUE L INE CORRIDOR 26 DEVELOPMENT PIPEL INE

EXECUT IVE SUMMARY

INVESTMENT HIGHL IGHTS

SI TE OVERVI EWS 10 ZONING DESCRIPT IONS 12 SI TE PLANS

EXCLUSIVELY OFFERED BY:

TREY AGNEW Executive Vice President direct: 617.457.3363 mobile: 617.549.5149 tagnew@hunnemanre.com

ANDREW KAEYER Executive Vice President direct: 617.457.3207 mobile: 781.248.6769 akaeyer@hunnemanre.com

IAN MCKINLEY Senior Associate

GINA BARROSO Assistant Vice President direct: 617.457.3261 mobile: 617.413.8143 gbarroso@hunnemanre.com

direct: 617.457.3404 mobile: 617.763.0419 imckinley@hunnemanre.com

Disclaimer: Information included or referred to herein is furnished by third parties and is not guaranteed as to its accuracy or completeness. You understand that all information included or referred to herein is confidential and furnished solely for the purpose of your review in connection with a potential purchase of the subject property. Independent estimates of pro forma income and expenses should be developed by you before any decision is made on whether to make any purchase. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual documents to which they relate. The asset owner(s), their servicers, representatives and/or brokers, including but not limited to Hunneman and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or implied, as to any information or projections relating to the subject asset(s), and hereby disclaim any and all such warranties or representations, and (ii) shall have no liability whatsoever arising from any errors, omissions or discrepancies in the information. Any solicitation for offers to purchase the subject asset(s) is subject to prior placement and withdrawal, cancellation or modification without notice. 303 Congress Street | Boston, MA 02210 | 617.457.3400 | hunnemanre.com

ORLEANS STON OPPORTUNITY

EXECUTIVE SUMMARY

Hunneman’s Capital Markets Group has been exclusively retained to sell 4 transit-oriented development parcels in East Boston, MA, totaling approximately 3.17 acres. The 4 parcels are located at 135B Bremen Street, 115 Bremen Street, 164 Orleans Street and 155 Orleans Street. The Bremen & Orleans East Boston Development Opportunity along the Greenway is a rare opportunity to acquire 4 parcels of land, ideally positioned for development, within walking distance to two popular MBTA Blue Line Stations; Maverick Square and Logan Airport. Over the last few years, East Boston has become one of the hottest residential development locations in and around Boston. The 4 parcels are unpermitted and are being sold on an “As-Is’ basis. The East Boston Greenway, a linear park planned along the old railroad right-of-way, which connects portions of East Boston’s historic waterfront to the Piers Park, the Boston Parks stadium and two Urban Wilds, runs adjacent to three of the 4 parcels. The East Boston Greenway is an attractive neighborhood amenity and adds over 12 acres of new park land and a 3.3-mile pedestrian/bike trail through the center of East Boston. We are offering this unique development opportunity for sale without a formal asking price. A “call-for-offers” date has been scheduled for Thursday, May 10th at 4:00 pm.

Investment Highlights

TRANSIT-ORIENTED DEVELOPMENT

OVER 3 ACRES OF DEVELOPABLE LAND IN BOSTON’S HOTTEST RESIDENTIAL DEVELOPMENT MARKET

5 MINUTE DRIVE TO LOGAN AIRPORT

STRONG DEMOGRAPHICS

OUTSTANDING WALKABILITY VIA THE EAST BOSTON GREENWAY

MOST WALKABLE CITY (Redfin) HEALTHIEST CITY IN THE US (Forbes)

#1CITY FOR MILLENNIALS (Forbes)

HIGHEST number of educated millennials

MOST INNOVATIVE

35% OF THE POPULATION IS 20-34 YEARS OLD

CITY (CNN)

MEDICAL 30+ Hospitals Including

Massachusetts General Hospital, Ranked #1 Hospital in the U.S.

#1 in NIH FUNDING $2.7 Billion in MA (2017)

BIOTECH HUB 50,000 bioscience-related jobs

EDUCATION #4 BEST CITY for Recent College Grads & 3RD SMARTEST City in the US (Forbes) 7.6% of the adult population are 25-34 year olds with a 4-year degree

VENTURE CAPITAL FUNDING $3.7 Billion in MA (2017)

35 COLLEGES &

UNIVERSITIES

BREMEN EAST B DEVELOPMENT

ORLEANS STON OPPORTUNITY

Site Overviews

135B BREMEN STREET PARCEL SI ZE: 1.47 ACRES ZONING:

CORRIDOR ENHANCEMENT SUBDISTRICT (CE) 100’ AVIGAT ION EASEMENT

EASEMENT:

164 ORLEANS STREET PARCEL SI ZE: 0.48 ACRES ZONING:

CORRIDOR ENHANCEMENT SUBDISTRICT (CE)

155 ORLEANS STREET PARCEL SI ZE: 0.56 ACRES ZONING:

CORRIDOR ENHANCEMENT SUBDISTRICT (CE)

115 BREMEN STREET PARCEL SI ZE: 0.66 ACRES ZONING: THREE-FAMI LY

RESIDENT IAL SUBDISTRICT (3F-2000)

EAST BOSTON MEMORIAL PARK

135 B

164

155

115

Zoning Descriptions

CORRIDOR ENHANCEMENT SUBDISTRICT (CE) : The Cor r i dor Enhancemen t Subd i s t r i c t i s es t abl i shed a l ong t he nor t h-sou t h spi ne of Eas t Bos ton , a l and cor r i dor t ha t has t he pot en t i a l to ser ve as a buf f er area separa t i ng res i den t i a l areas f rom i ndus t r i a l and commerc i a l areas and as a cor r i dor connec t i ng res i den t i a l nei ghborhoods to open space areas and t he wa t er f ron t i n t he Eas t Bos ton Nei ghborhood Di s t r i c t . The purpose of t he CE Subd i s t r i c t i s to promot e t he s i t i ng and des i gn of any new devel opmen t i n a manner t ha t i s sens i t i ve to t he ad j acen t res i den t i a l and open space areas . Wit h i n t he CE Subd i s t r i c t , t he fol l owi ng uses are cons i dered a l l owed: - Mu l t i f ami l y dwel l i ng - Two f ami l y semi -a t t ached dwel l i ng - One f ami l y semi -a t t ached dwe l l i ng - Townhouse - Group res i dence, l imit ed The Fol l owi ng t abl e ou t l i nes t he a l l owabl e he i gh t , FAR, and setbacks wi t h i n t he CE Subd i s t r i c t : - Three f ami l y det ached dwe l l i ng - Two f ami l y det ached dwel l i ng

MAXIMUM FLOOR AREA RATIO MAXIMUM BUILDING HEIGHT (FT.)

1.0

MINIMUM LOT SIZE (SF)

none

MINIMUM LOT AREA PER DWELLING UNIT (SF)

MINIMUM LOT WIDTH (FT.) MINIMUM LOT FRONTAGE (FT.) MINIMUM FRONT YARD (FT.) 1 MINIMUM SIDE YARD (FT.) MINIMUM REAR YARD (FT.) 2

none none none none

1. In a required front yard in a CE Subdistrict, no plaza, terrace, or public access to a basement (other than required by the State Building Code) shall be below the grade of the nearest sidewalk unless, after public notice and hearing and subject to the provisions of Article 6, the Board of Appeal grants a permit thereafter. In a CE Subdistrict, every front yard required by this Code shall be at grade level along every lot line on which such yard abuts. 2. In a CE Subdistrict, every rear yard required by this Code that does not abut a street line shall, along every lot line on which such yard abuts, be at level no higher than the level of the lowest window sill in the lowest room designed for human occupancy or so occupied, and relying upon natural light or natural ventilation from windows opening on such a yard.

This is a summary of the Zoning bylaws and allowable uses. For full detail please visit the Boston Planning and Development Association website.

THREE-FAMI LY RESIDENTIAL SUBDISTRICT: The purpose of res i den t i a l subd i s t r i c t s i s to ma i n t a i n , enhance, and promot e t he charac t er of res i den t i a l nei ghborhoods i n t erms of dens i t y , hous i ng t ype, and des i gn ; to prov i de for l ow- and med i um-dens i t y mu l t i f ami ly hous i ng appropr i a t e to ex i s t ing bu i l t env i ronmen t ; and to encourage appropr i a t e deve l opmen t wh i ch enhances t he res i den t i a l subd i s t r i c t s wh il e preven t i ng overdevel opmen t . The Three-Fami ly Res i den t i a l ( “3F”) Subd i s t r i c t s are es t abl i shed to preser ve t he l ow-dens i t y t hree- f ami l y areas wi t h a var i et y of hous i ng t ypes appropr i a t e to t he ex i s t i ng f abr i c , i nc l ud i ng one-, two- , and t hree- f ami l y dwel l ings , and to a l l ow mi nor changes to occur as of r i gh t . I n a 3F Subd i s t r i c t , t he max imum number of dwe l l i ng un i t s a l l owed i n a s i ng l e bu i l d i ng, i nc l ud i ng a town house bu i l d i ng or row house bu i l d i ng, i s t hree (3) . Wi t h i n t he 3F-2000 Subd i s t r i c t , t he fo l l owi ng uses are cons i dered a l l owed: - Three f ami l y det ached dwe l l i ng - Two f ami l y det ached dwel l i ng - Two f ami l y semi -a t t ached dwel l i ng - One f ami l y det ached dwel l i ng - One f ami l y semi -a t t ached dwe l l i ng - Townhouse - Group res i dence, l imi t ed The fol l owi ng t abl e ou t l i nes t he a l l owab l e hei gh t , FAR, and setbacks wi t h i n t he 3F-2000 Subd i s t r i c t :

MAXIMUM FLOOR AREA RATIO MAXIMUM BUILDING HEIGHT (FT.)

1.0

35 (3 stories)

MINIMUM LOT AREA PER DWELLING UNIT (SF)

2,000 for 1 or 2 units

MINIMUM LOT WIDTH (FT.) MINIMUM LOT FRONTAGE (FT.) MINIMUM FRONT YARD (FT.) 1 MINIMUM SIDE YARD (FT.) 2 MINIMUM REAR YARD (FT.)

20 20

2.5

USABLE OPEN SPACE MINIMUM (SF/DWELLING UNIT) 3 REAR YARD MAX OCCUPANCY BY ACCESSORY BUILDINGS (%)

300

1. A bay window may protrude into a Front Yard. 2. Semi-attached Dwellings, Town House Buildings, and Row House Buildings are only required to have side yards on sides that are not attached to another Dwelling. 3. Applicable only to Residential Uses and Dormitory/Fraternity Uses. In Multifamily Residential Subdistricts, all or part of the usable open space requirement may be met by suitably designed and accessible space on balconies of Main Buildings or on the roofs of wings of Main Buildings or on the roofs of Accessory Buildings.

This is a summary of the Zoning bylaws and allowable uses. For full detail please visit the Boston Planning and Development Association website.

Site Plans

135B BREMEN STREET

S MWRATrunk Line

Inv:Over 25'Deep

BituminousConcrete

6'ChainLinkFence

NowOrFormerly 135BremenStreet,LLC 135BremenStreet EastBoston,Massachusetts 02128 DeedBook 49995,Page263 O

Notes:

2" x2"

FoundHub&Tack PointOn Line o

Rim: 16.54' Inv: 3.99'

PlanD7436,Page 553 PID:0103919002

1.TheDataAccumulationAndBoundarySurveyDepictedHereonWereObtainedByAPartialFieldSurveyOnMay 3, 5, and 8, 2014ByChessEngineering, LLC.

Grass

, e

2.ThePurposeOfThisPlan IsToProvideARecordConditonsPlanOf LandWhich IllustratesThisSurveyors' InterpretationOfObservableMonuments,ObtainablePlansAndDeedsOfRecord,WitnessTestimony,AndAny OtherPlansAndDeedsWhichMayAffectThe LocusPropertyAtTheTimeAndDateOfThePartialFieldSurvey. 3.ThisPlanDoesNotShowAnyUnrecordedOrUnwrittenEasementsWhichMayExist.AReasonableAndDiligent AttemptHasBeenMadeToObserveAnyApparent,VisibleUsesOfThe Land;However,ThisDoesNotConstitute AGuaranteeThatNoSuchEasementsExist.

H t

KeyEntry Gate

2" x2"

Guardrail

FoundHub&Tack PointOn Line

MWRATrunk Line

Inv:Over 25'Deep

Grass

S49°32'43"E

180.00'

NOTTOSCALE LOCUS MAP

6'ChainLinkFence

2" x2"

FoundHub&Tack PointOn Line

4.ThisPlanAndSurveyWerePreparedUsingConventionalSurveyMethods.ATopconGTS-225TotalStation WasUsedHavingAnAccuracyOf 5"And 5Ppm.

135BremenStreet 1StorySteelFrameStructure

CommercialUse

11.7'

5.All ImprovementsShownHereonHaveBeenSpatiallyFixedToALocationalToleranceOfNotMoreThan 1/10th OfThePlanScale.PositionalToleranceDoesNotExceedAllowableStandards.

Grass

24.1'

BituminousConcrete

Greenhouse (3Season)

20.3'

LandscapePlanter

4'Chain

9.0'

LinkGate

6.All Improvements LocatedHereonAreReferencedToTheExistingBuildingsAsHereonDescribed.

Guardrail

Legend

24.3'

20.3'

7.TheBasisOfBearings,Azimuths,AndTheNorthArrowShownHereon IsTheMassachusettsStatePlane CoordinateSystem,MainlandNAD 83.

23.9'

7.7'

WaterGuage (Meter)

10.2'

10.7'

SewerManhole Irrigation,Valve

4'Chain LinkFence

Shed

Planter

BituminousConcrete

SpeedBump

Grass

8.TheBasisOfElevationsShownHereon IsSewerManhole InverstsAlongBremenStreetAsProvidedByBoston Water&SewerCommission.ThisPlanDoesNotWarrantyNorGuaranteeTheAccuracyOrPrecisionOfThe BenchmarksProvidedAnd IsNotAGuaranteeOfAccuracyOfAny InformationProvidedByBostonWater&Sewer Commission.

Handhole GasValve GasService

60.2'

16.6'

9.0'

12.7'

6'ChainLinkFence

38.8'

2.0'

Double-Wide

8.6' 12.8'

ElectricGuage (Meter) FireHydrant

8.2'

MobileOfficeSpace

60.2'

19.9'

Planter

Catchbasin WaterValve WaterService Tree

2.5'

4.0'

10.9'

Planter

4'ChainLinkFence

LandscapePlanter

10.8'

23.9'

4.0'

BituminousConcrete

33.9' #135BBremenStreet 1Story CommercialUse

11.5'

LightPole MonitoringWell Post /Bollard WaterLine GasLine Polew/Light CombinedSewerLine OverheadWire

Grass

20.9'

32x48Brick

20'RearSetback

Planter

32.7'

GRAPHIC SCALE

Planter

BituminousConcrete

6'Chain LinkFence

4'Chain LinkFence

Mulch

4'ChainLinkFence

(in feet)

GranitePaver

1 inch= 20 feet

Planter

Grass

N40°26'50"E 469.21'

.2S

Concrete

Rim: 16.63'

Inv: [Sealed]

64030.2Sq.Feet

BituminousConcrete

Sign,Small Sign,DoublePost FlagPole

Grass

6'ChainLinkFence

6'Chain LinkFence

The LocationOfAllUndergroundUtilitiesShownAreApproximate AndAreBasedUponAFieldSurveyAndCompilationOfPlansOf Record.DavidGosselin+AssociatesDoesNotWarrantyThe LocationOfAllUtilitiesDepicted.OnlyRecord InformationProvided ByTheRespectiveUtilityOwnerAnd IndependentlyVerifiedBy ChessEngineering, LLC IsShownHereon.TheContractor, Engineer,OrArchitectPriorToCommencementOfConstruction or Design,ShallVerifyThe LocationOfAllUtilitiesAndContactDig SafeAt 1-888-344-7233.

Bremen Street PublicRightOfWay (40'Width) CityOfBostonLayout PlanReference L-3816

ApproximateEdgeofFloodZoneAE NAVDElev 9'

BituminousConcrete

Grass

458.72' 458

S50°31'59"W S

6'ChainLinkFence

20'RearSetback

BituminousConcrete

Grass

6'ChainLinkGate

the

uset P

NowOrFormerly

Inhabitants of theCityofBoston EastBostonGreenwayPark

BituminousConcrete

EastBoston,Massachusetts 02128 DeedBook22067,Page 56 NoPlanReference PID:0103920055 E I

6'Chain LinkFence

32x48Brick

Grass

Milton, MA02187 POBox 870240

BituminousConcrete

Grass

www.chessengineeringne.com Phone (617) 982-3250

BituminousConcrete

Rim: 14.62' Inv: 9.87'

2" x2" FoundX-CutOnConcrete 2'Offset (Held forLine) GoodCondition o

6'ChainLinkFence

BituminousConcrete

Record Conditions Plan Of Land

BituminousConcrete

KeyEntry Gate

MWRATrunk Line

PreparedFor

Inv:Over 25'Deep

Guardrail

20'RearSetback

6'Chain LinkFence

Grass

East Boston Neighborhood Health Center

Grass

Owner Of Record: MassPortAuthority 1HarborsideDrive,Suite 200S EastBoston,Massachusetts02128 DeedBook 49819,Page 174 PID:0103919001 Plan:DeedBook 8171,Page 672

12 6'Chain LinkFence

IDeclare,ToTheBestOfMyProfessionalKnowledge, Information, AndBelief,ThatThisPlanWasPrepared InAccordanceWithThe RulesAndRegulationsOfTheRegistersOfDeedsOfThe CommonwealthOfMassachusetts.

LPL

Rim: 15.39'

Inv: 4.48'

101.20' N59°32'33"W

Grass

135B Bremen Street

Boston, Massachusetts 02128

KoreanWarMemorial

Guardrail

6'Chain LinkFence

Grass

(SuffolkCounty)

Grass

Bituminous Concrete

BY:

Grass

BituminousConcrete

MASSACHUSETTSREGISTRATIONNUMBER 45720 REGISTEREDPROFESSIONALLANDSURVEYOR

Porter Street

Grass

115 BREMEN STREET

Bituminous Concrete

BituminousConcrete

Grass

Landscaping

The LocationOfAllUndergroundUtilitiesShownAreApproximate AndAreBasedUponAFieldSurveyAndCompilationOfPlansOf Record.ChessEngineering, LLCDoesNotWarrantyThe LocationOfAllUtilitiesDepicted.OnlyRecord InformationProvided ByTheRespectiveUtilityOwnerAnd IndependentlyVerifiedBy ChessEngineering, LLC IsShownHereon.TheContractor, Engineer,OrArchitectPriorToCommencementOfConstruction or Design,ShallVerifyThe LocationOfAllUtilitiesAndContactDig SafeAt 1-888-344-7233.

Grass

24x36Brick

3Story Residential

KeyEntry Gate

S49°33'10"E

Railing

91.40'

Rim: 15.55' Inv:TBD

Railing

Bus

6'ChainLinkFence

Shelter

BituminousConcrete

Legend

3Story Residential

FoundDrillHole InConcrete

Landscaping

WaterGuage (Meter)

Rim: 15.73'

Inv: [Full]

Irrigation,Valve SewerManhole

1.5'Offset GoodCondition

GasValve GasService ElectricGuage (Meter) Handhole

3/8"

3Story Residential

FireHydrant

Grass

20'RearSetback

Catchbasin

WaterValve

BituminousConcrete

Rim: 8.58'

WaterService Tree

144.90'

Inv:TBD

BituminousConcrete

Notes:

LightPole

S50°56'50"W

1.TheDataAccumulationAndBoundarySurvey 12& 13, 2014ByChessEngineering, LLC.

MonitoringWell

Grass

Post /Bollard

WaterLine

Polew/Light GasLine

2.ThePurposeOfThisPlan IsToProvideARec InterpretationOf ObservableMonuments,Obtain OtherPlansAndDeedsWhichMayAffectThe L 3.ThisPlanDoesNotShowAnyUnrecordedOr AttemptHasBeenMadeToObserveAnyAppare AGuaranteeThatNoSuchEasementsExist.

Landscaping

27764.8Sq.Feet

CombinedSewerLine

4'Chain LinkFence

OverheadWire

24x36Brick

GranitePaver

BituminousConcrete

ConcreteWallWith 6'ChainLinkFence

BituminousConcrete

4.ThisPlanAndSurveyWerePreparedUsingC WasUsedHavingAnAccuracyOf 5"And 5Ppm.

Concrete

Grass

Sign,Small

5.All ImprovementsShownHereonHaveBeen OfThePlanScale.PositionalToleranceDoesNo

FlagPole Sign,DoublePost

N40°26'50"E 453.50'

6.All Improvements LocatedHereonAreReferen

4'Chain LinkFence

7.TheBasisOf Bearings,Azimuths,AndTheNor CoordinateSystem,MainlandNAD 83.

Rim: 16.29' Inv:TBD

3Story Residential

BituminousConcrete

PublicRightOfWay (40'Width) CityOfBostonLayout PlanReference L-3819 

BituminousConcrete

8.TheBasisOf ElevationsShownHereon IsSew Water&SewerCommission.ThisPlanDoesNot BenchmarksProvidedAnd IsNotAGuaranteeOf Commission.

Landscaping

Grass

3Story Residential

Inv:TBD

Rim: 16.25'

NowOrFormerly GumballCondominium 130-150OrleansStreet Certificate#C251

3Story Residential

Rim: 8.47'

20'RearSetback

Inv:TBD

Rim: 17.64' Inv: 5.50'

FoundDrillHole InConcrete

Landscaping

LPP

EastBoston,Massachusetts 02128 LandCourtCases30140,19313, 19102,3309,3306,&1932 PID:0103894012

A =306.7 0'

R = 11 2 6 .0 0 ' 10

D =15°3 6' 2 2 "

HeldForLine GoodCondition

3/8"

1Story Commercial

NowOrFormerly

Inhabitantsof theCityofBoston EastBostonGreenwayPark

EastBoston,Massachusetts02128 DeedBook22067,Page 56 PlanBook21300,Page 332 PID:0103918055

KeyEntry Gate

BituminousConcrete

Grass

BituminousConcrete

24x36Brick

ConcreteWallWith 6'Chain LinkFence

4Story Commercial

Grass

Landscaping

BituminousConcrete

20'RearSetback

Owner Of Record: EastBostonNeighborhoodHealthCente 10GoveStreet EastBoston,Massachusetts02128 DeedBook 18505,Page 20 PID:0103918000 UnrecordedPlanReference InDeed

35.70' N55°33'49"W

NowOrFormerly

Gate

GreenwayApartments,LLC 170MaverickStreet

PublicRightOfWay (50'Width) CityOfBostonLayout PlanReference L-3822 

EastBoston,Massachusetts 02128 DeedBook 45554,Page165 UnrecordedPlanReference PID:0103916000

61.5'+/-

NowOrFormerly MichaelDellorfano

SS  Rim: 24.88' Inv: [Sealed] T

158MaverickStreet EBoston,MA02128 DeedBook9176,Page8

19 18

17 16

IDeclareThatThisSurveyAndPlanWerePrepared InAccordance TheProceduralAndTechnicalStandardsForThePracticeOf Land Surveying InTheCommonwealthOfMassachusetts.

PID:0103917005

GRAPHIC SCALE

PublicRightOfWay (50'Width)

57.27'

N37°48'43"E 58.40'

BituminousConcrete

CityOfBoston Layout PlanReference L-3826

S35°20'28"W

Detritus

17.80' N59°47'41"W

(in feet)

1 inch= 20 feet

DavidA.Gosselin,PLS#45720

Site Plans

164 ORLEANS STREET

155 ORLEANS STREET

BOSTON

Site Overview

MAVERICK STATION

MAVERICK SQUARE MBTA BLUE L INE 3 MIN 4 MIN 5 MIN AQUARIUM STATE STREET GOVERNMENT CENTER

115 BREMEN STREET

164 ORLEANS STREET

155 ORLEANS STREET

SUMNER TUNNEL

5 MIN

DOWNTOWN BOSTON

5 MIN

LOGAN INTERNAT IONAL AIRPORT

CHARLESTOWN

BOSTON INNER HARBOR

SUMNER TUNNEL

135 B BREMEN STREET

BOSTON LOGAN INTERNATIONAL AIRPORT

EAST BOSTON MEMORIAL PARK

AIRPORT STATION

BOSTON MAIN CHANNEL

155 ORLEANS STREET

164 ORLEANS STREET

EAST BOSTON GREENWAY

135 B BREMEN STREET

115 BREMEN STREET

MAVERICK STATION

Boston Market With the ninth-largest GDP in the country and the fifteenth-largest in the world, metro Boston is an economic powerhouse and one of the nation’s centers for education, finance, tourism, healthcare, life sciences and technology. The region is home to 12 Fortune 500 Companies, some of the largest employers include Brigham and Women’s Hospital, Mass General Hospital, John Hancock, Boston University and Liberty Mutual. Greater Boston boasts a population base of 4.7 million – ranking it one of the largest metropolitan areas in the U.S. The 80+ colleges and universities in the region are anchored by world-class institutes such as Harvard and MIT, and provide a large pool of talented young workers who remain attracted to the area’s burgeoning innovation economy, solid employment prospects, above-average wages and amenities. As a worldwide leader in science and tech-based industries, the metro area continues to benefit from healthcare and biotech research and development. Armed with a strong entrepreneurial spirit and a highly educated workforce, prospects for growth are solid in Greater Boston.

LEADER IN EDUCATION AND HEALTHCARE • Anchored by Boston and Cambridge, Massachusetts has been ranked the 8th most popular destination for college students (source: College Raptor), enjoying a student population of more than 250,000.

• Top-ranked universities, according to U.S. News & World Report, include Harvard (#2), MIT (#7) and Tufts (#27).

NIH FUNDING

STATE

FY 2017 $ $ PER CAPITA

• Massachusetts General Hospital and Brigham and Women’s Hospital are among the best hospitals in the country, ranking 1st and 6th, respectively. • Massachusetts remains a top destination for NIH funding, receiving $2.7 billion in awards during the 2017 fiscal year. Much of this funding goes to Boston-area institutions and hospitals, with Mass General, Brigham & Women’s and Harvard Medical School accounting for roughly 37% of total funding.

California

$3.9

$106

Massachusetts

$2.7

$415

New York

$2.4

$120

Pennsylvania

$1.7

$130

Maryland

$1.6

$265

GLOBAL TECH HUB • Greater Boston’s importance as a global technology hub has continued to expand over the last several years. Boston ranked 5th in Market Expert’s top 10 Tech cities list and 1st among the top 25 startup hubs in the U.S. by the U.S. Chamber of Commerce Foundation and startup incubator 1776.

VC FUNDING

• According to the Kauffman Index, Greater Boston ranked 22nd among the country’s 40 largest metro areas for startup activity.

STATE

H1 2017 $

California

$20 B

• In 2016, there were 1,869 startups operating in the Boston area.

New York

$5.9 B

• Massachusetts is also a top destination for venture capital funding, garnering $3.7 B in 2017. This ranks the Bay State 3rd behind only California and New York.

Massachusetts

$3.7 B

Washington

$886 M

Illinois

$719 M

me:

EMPLOYMENT BREAKDOWN

EDUCATION AND HEALTH SERVICES EDUCATION AND HEALTH SERVICES

DIVERSE ECONOMY While education and healthcare dominate in Greater Boston, accounting for 21% of total employment, the metro area boasts a rather diverse economy. Professional services, trade and utilities, government and tourism are major industries here as well.

EDUCATION AND HEALTH SERVICES

PROFESSIONAL, SCIENTIFIC & BUSINESS SERV TRADE, TRANSPORTATION, AND UTILITIES PROFESSIONAL, SCIENTIFIC & BUSINESS SERV TRADE, TRANSPORTA ION, AND UTILITIES PROFESSIONAL, SCIENTIFIC & BUSINESS SERVICES TRADE, TRANSPORTATION, AND UTILITIES

.5% .5% .6% .6% .5% .8% .7% .1% .9% .8%

GOVERNMENT GOVERNMENT

GOVERNMENT

LEISURE AND HOSPITALITY LEISURE AND HOSPITALITY LEISURE AND HOSPITALITY

FINANCIAL ACTIVITIES

FINANCIAL ACTIVITIES FINANCIAL ACTIVITIES

MANUFACTURING

MANUFACTURING MANUFACTURING

MINING, LOGGING ANDCONSTRUCTION MINING, LOGGING AND CONSTRUCTION MINING, LOGGING ANDCONSTRUCTION

OTHER SERVICES

OTHER POSITIVE ATTRIBUTES • Greater Boston’s population base is young and well-educated, particularly within the Boston city limits. 25-34 year olds with a 4-year degree account for 7.6% of the adult population in the metro area.

• Within the Boston city limits roughly 35% of the population is aged 20-34 years old; ranking the city 1st in the nation.

• Boston, particularly Cambridge, has grown into a global biotech and life science hub, with many of the world’s leading pharmaceutical companies maintaining a presence here. Employment in bioscience-related jobs is about 50,000 in Boston.

• Boston has emerged as a gateway city. Nationally, the U.S.’s economic strength and relative returns compared to other global market has driven an influx in foreign capital into commercial real estate. Boston has been a direct beneficiary, with foreign investors accounting for slightly less than 20% of total office sales volume year-over-year as of Q2 2017.

East Boston Market Overview

ONE OF BOSTON’S FASTEST-GROWING NEIGHBORHOODS (ESRI)

Boston

East Boston

POPULATION: 43,000 (2016) IN EAST BOSTON’S MULTIFAMILY STOCK compared to 2014

67% INCREASE

440

oston

Units Completed 2012-2017

Multifamily Rent Comparison

$3,000

Units Completed 2012-2017

$2,750

$2,500

$2,250

10,824

440

$2,000

EAST BOSTON

BOSTON

2014 2017

BOSTON

EAST BOSTON

East Boston boasts a major transportation hub (Logan International Airport), public transit access (the Blue Line), an eclectic mix of commercial users, plenty of highly-sought after industrial space (ripe for conversion) and water views. Cheaper housing (relative to the rest of Boston), new construction, increased amenities, and public transit access have all helped attract residents to East Boston. With a population base of more than 43,000 in 2016 the number of residents has increased by 12% since 2000; topping ESRI’s list of fastest- growing Boston neighborhoods. The importance of Boston’s public transit system on these growth patterns cannot be overstated. Recent demographic trends have led to increasing demand for urban living/working, and subsequently, public transportation. Downtown Boston as well as connections to the Orange and Green lines are just a few short stops, via the Blue Line at Maverick Station or Airport Station, from East Boston — making the area ideal for young professionals looking for easy access to the city’s employment centers. Similar to the Seaport, East Boston has seen an uptick in housing construction over the last few years. More than 500 multifamily units have come on line here since 2014 and another 1,200 units are currently under construction. Combined this represents a 67% increase in East Boston’s multifamily stock compared to 2014. While the large number of new residential developments (including many luxury projects) has led to increased home prices and rents in East Boston, the demand for new housing remains very strong. As Boston’s urban population and employment base expand further, strong development opportunities in East Boston will be highly desireable.

East Bo

Growing Blue Line Corridor The direct access to public transportation means that The Bremen & Orleans East Boston Development Project along the Greenway will follow what is happening in line with other developments along the Blue Line corridor. Demand for luxury living in East Boston will continue as developers continue to add jobs and amenities to the area and residents look to find savings over the rapidly rising rents in downtown Boston. Residents of The Bremen & Orleans East Boston Development Project along the Greenway are only a 3-7 minute walk from the various parcels to the MBTA Blue Line Maverick Station. From there, it is 1 stop to Aquarium and 2 stops to State Street Station providing direct access to the Boston Waterfront, and the Financial District. The Airport is directly accessible off of the MBTA Blue Line or Route 1A. The MBTA Airport Station is an approximate 5-7 minute walk from The Bremen & Orleans East Boston Development Project along the Greenway. The recently purchased Suffolk Downs, a 161-acre site that could become one of Boston’s largest developments in recent years. The purchaser’s vision for the site is a large, mixed-use retail, entertainment/ dining and residential area, similar to Somerville’s Assembly Row.

The Blue Line Corridor has directly benefitted from continued urban migration in the Boston metro. The area’s population base increased by 7% from 2010-16, reaching more than 52,000 residents. This growth pattern is expected to continue in the future as the population along this corridor is set to grow by another 6.4% over the next five years. Not only is the population expanding, but it is also highly-educated. As of 2016, 38.5% of those 25 years or older living in the Blue Line Corridor held a Bachelor’s Degree or higher. This is only slightly below the statewide average of 40%. Young professionals looking for city living, proximity to public transit and more affordable rents are likely driving this trend. Though areas along the Blue Line have offered some pricing relief for apartment renters, asking rents have been climbing at a steady clip here as well; reaching $3.09/SF in 2017 . New construction, particularly in East Boston, is partially responsible for this trend. Newly built multifamily properties in Boston are commanding between $3-$4/SF , which represents a $1-$2/SF premium over product constructed before 2012.

24 24

60 - 70K BLUE L INE WEEKDAY RIDER AVER AGE

WONDERLAND •Necco Candy Factory: Plans to change the former candy factory into a manufacturing hub for robotics. – future 800k+ sf of renovated commercial space •Waterfront Square: 881 Class A apartments completed or under construction and a 170-key hotel ORIENT HEIGHTS / SUFFOLK DOWNS •Suffolk Downs: Recently purchased by The HYM Investment Group, Suffolk Downs, a 161-acre site, could become one of Boston’s largest developments in recent years. HYM’s vision for the site is a large, mixed-use retail, entertainment, restaurants and residential area, similar to Somerville’s Assembly Row •The site is also a potential location for Amazon’s HQ2

GOVERNMENT CENTER •Easy connections to the Green Line •Steps to North Station: Fastest growing Tech Center in Boston •Faneuil Hall: Boston’s Shopping destination with over 100 retailers •Bulfinch Crossing: 800 units, 100,000 SF retail AQUARIUM •Direct connection to the Financial District •35 MSF of office space •Kennedy Greenway •Abundance of restaurants, retail and hotels

AIRPORT •Connections to Silver Line (Seaport & Financial Districts) •17th busiest airport in US •Over 36 million passengers annually

BREMEN & ORLEANS EAST BOSTON DEVELOPMENT PROJECT

MAVERICK •East Boston: One of the city’s fastest growing residential communities •Clippership Wharf: 478 units under construction •301-303 Border Street: 64 condos, 1,000 SF retail

East Boston Development Timeline

BOSTON EAST

135 BREMEN STREET

THE EDDY

BREMEN & ORLEANS EAST BOSTON DEVELOPMENT PROJECT

HODGE BOI LER WORKS

CL IPPERSHIP WHARF

PORTSIDE AT EAST PIER

135 BREMEN STREET 135 BREMEN STREET Residential 94 Rental Units 8,300 SF Commercial 110 Parking Spaces DEVELOPER: 135 Bremen Street, LLC STATUS: Board Approved COMPLETION DATE: TBD

HODGE BOI LER WORKS 99 SUMNER STREET Residential / Retail 95 Rental Units 740 SF Cafes 75 Parking Spaces

CL IPPERSHIP WHARF 25-65 LEWIS STREET Residential / Retail Buildings 1 & 2: 492 Rental Units Building 3: 80 Condo Units Building 4: 114 Residential Units 30,200 SF Retail & Community Space 321 Parking Spaces DEVELOPER: Lend Lease Development STATUS: Under Construction COMPLETION DATE: Fall 2018

DEVELOPER: The Davis Companies STATUS: Board Approved COMPLETION DATE: 2018

THE EDDY 10 NEW STREET Residential / Retail 258 Rental Units 5,000 SF Restaurant

PORTSIDE AT EAST PIER 50 LEWIS STREET Residential / Retail Phase 1: 176 Rental Units (196,000 SF) Phase 2: 296 Units (290,000 SF) DEVELOPER: Roseland Property Company STATUS: Phase 1: Complete Phase 2: Under Construction COMPLETION DATE: Phase 2: September 2018

BOSTON EAST 126 BORDER STREET Residential 200 Units 120 Parking Spaces Harborwalk Extension Marine Facility

DEVELOPER: Gerding Edlen

DEVELOPER: East Boston CDC

STATUS: Complete COMPLETION DATE: 2016

STATUS: Complete COMPLETION DATE: Winter 2017

EXCLUSIVELY OFFERED BY:

BREMEN & ORLEANS EAST BOSTON DEVELOPMENT OPPORTUNITY

TREY AGNEW Executive Vice President direct: 617.457.3363 mobile: 617.549.5149 tagnew@hunnemanre.com ANDREW KAEYER Executive Vice President direct: 617.457.3207 mobile: 781.248.6769 akaeyer@hunnemanre.com direct: 617.457.3404 mobile: 617.763.0419 imckinley@hunnemanre.com GINA BARROSO Assistant Vice President direct: 617.457.3261 mobile: 617.413.8143 gbarroso@hunnemanre.com IAN MCKINLEY Senior Associate

INVESTMENT SERVICES

303 Congress Street | Boston, MA 02210 617.457.3400 | hunnemanre.com

This is a confidential presentation intended solely for your limited use when considering whether to pursue negotiations to acquire the property. This document and its contents are confidential and are not to be copied, circulated, or otherwise used without the express, prior written consent of Hunneman. This investment brochure is subject to errors, omissions, prior sale, and withdrawal from the market without notice. The material contained in this brochure is based in part upon information supplied by the owner of the property and in part upon information obtained by Hunneman from sources it deems to be generally reliable. Summaries contained herein of any legal documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein. No warranty or representation, expressed or implied, is made by NAI Hunneman Commercial or any of its subsidiaries as to the accuracy or completeness of the information. Note: This property is exclusively listed with Hunneman, Brokers from other firms may not copy or disburse this property information without prior consent from the listing broker. Cooperating brokers must complete “client registration form” (available upon request).

Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28

Made with FlippingBook - professional solution for displaying marketing and sales documents online