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Harvard Business Publishing Home Sold for $72M

By Steve Adams | Banker & Tradesman Staff | Oct 8, 2020 | Reprints | Unlock Link

| Print

A joint venture of Griffith Properties and Artemis Real Estate Partners has acquired the former New Balance headquarters at 20 Guest St. in Brighton for $72 million from NB Development.

After New Balance departed for its new flagship headquarters at Boston Landing in 2015, the 229,000-square-foot building was converted into multitenant space leased to tenants including Harvard Business Publishing and Global Atlantic Financial Group.

JLL Boston represented the seller in the transaction. MetLife Real Estate Lending provided $44 million in mortgage financing.

Cofounded in 2009 by former U.S. Secretary of Commerce Penny Pritzker, Washington, D.C.-based Artemis raised over $1 billion in its latest commingled fund, Artemis Fund III, in 2018.

Boston-based Griffith Properties will operate the property.

Editor’s note: This report has been updated with additional information about Griffith Properties’ role as joint venture partner and operator of the property.

B&T Daily