— Real Estate Advisory Firm to Lead Leasing and Merchandising for More Than 60 Properties in Back Bay and Harvard Square —
December 14, 2021
New York, NY — December 10, 2021— Alvarez & Marsal Property Solutions (AMPS) announced today that the commercial real estate advisory firm has been selected to manage the leasing and merchandising for Asana Partners’ retail properties in their mixed-use Harvard Square and Back Bay portfolios. With over 60 properties encompassing more than 288,000 square feet, the retail portfolio is one of the largest in Boston and features storefronts along some of the country’s most iconic and highly sought-after corridors, including Newbury Street, Boylston Street and Brattle Street.
“This portfolio features some of the most prestigious retail locations in the country, and we are grateful to grow our data-driven approach to advisory in Boston,” said Matthew Krell, Managing Director at AMPS, which launched in 2021. “Back Bay and Harvard Square are walkable, 18-hour retail destinations that benefit from the affluent consumer bases of the densely populated and highly educated Boston and Cambridge submarkets. In proximity to more than half-a-dozen world-class universities and hundreds of thousands of daytime commuters, the portfolio already includes some of the most highly regarded retailers in the world which seek to be in these mixed-use neighborhoods. We are excited to help attract new businesses to the area.”
Asana Partners’ Back Bay properties are within blocks of Boston Public Garden, Boston Common, Fenway Park, Boston University and Northeastern University. Many of the properties are converted from Victorian brownstone residences and are frequented by office workers within the dozens of nearby skyscrapers. These properties span more than 223,000 square feet, with the submarket’s population density per square mile of 31,353 and an average household income of $144,180. Daily ridership at the nearby Copley MBTA station is over 12,000. Existing retailers in the portfolio include Lush, Madewell, Free People, Le Labo, Jenni Kayne, Kendra Scott, Rag & Bone, Burton Snowboards, Marine Layer, Parachute Home, Studs, Drybar, Alton Lane, Indochino, Shake Shack and Bonobos.
The Harvard Square portfolio totals almost 65,000 square feet and sits at the center of gravity for Harvard University. The area boasts a strong average household income over $142,000 and some of the strongest educational attainment levels in the country where 84% of the population has obtained a bachelors degree. The properties are in proximity to the Harvard MBTA station, where the Red Line “T” arrives every 11 minutes during peak hours and every 12-16 minutes during off peak hours and weekends. Retail partners in the portfolio include Patagonia, Marine Layer, Bluestone Lane, Rebekah Brooks, Allbirds, Cardullo’s, and Ray-Ban.
Alvarez & Marsal Property Solutions
Alvarez & Marsal Property Solutions (AMPS) is a fully integrated commercial real estate advisory firm, providing data-driven real estate services on a local, regional and national level to both landlords and tenants. The AMPS team has completed more than 5 million square feet of commercial real estate transactions across the United States and specializes in delivering all-inclusive services to clients at every stage of their business. For tenants, this includes portfolio, market and location analysis, as well as site selection, project and transaction management, design and strategy. For landlords, the experienced team offers site and project analysis, short-and long-term leasing, property management, marketing strategy and vision.
AMPS is an affiliate of Alvarez Marsal Property Investments (AMPI) and a privately owned subsidiary of Alvarez & Marsal Inc.
Asana Partners is a vertically integrated real estate investment company that creates value by acquiring, enhancing, and operating distinctive mixed-use and retail properties in dynamic urban and near-urban neighborhoods in the United States. For more information, visit www.asanapartners.com.
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