<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0RN15y_0wCmTZp100" alt="https://img.particlenews.com/image.php?url=0RN15y_0wCmTZp100" width="820" height="510" >An affiliate of Miami-based Azora Exan acquired 149 Newbury St. in Boston from the property’s developer, Chicago-based L3 Capital, for $101 million, reported the Boston Business Journal. The per-square-foot price of $2,321 for the five-story mixed-use property was higher than any other Boston commercial real estate transaction since 2000 other than the Mandarin Oriental in Back Bay and The Alyx at Echelon Seaport, the Business Journal reported, citing research from Hunneman.149 Newbury is among the newest Boston properties to trade since the pandemic. It opened last year with a ground-floor Alo Yoga store, joined more recently by a Google Store and healthcare payments technology provider Zelis’ top-floor office lease.The deal is Azora Exan’s third high-profile Boston acquisition lately. The firm bought 7 Post Office Square in August 2023 for $41 million, then purchased 801 Boylston St., another five-story Back Bay office and retail building, for $39.1 million this past spring.ConnectInside The StoryPaul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&amp;As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).</div></body>

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Sale of Mixed-Use 149 Newbury Sets Boston Pricing Benchmark

An affiliate of Miami-based Azora Exan acquired 149 Newbury St. in Boston from the property’s developer, Chicago-based L3 Capital, for $101 million, reported the Boston Business Journal. The per-square-foot price of $2,321 for the five-story mixed-use property was higher than any other Boston commercial real estate transaction since 2000 other than the Mandarin Oriental in Back Bay and The Alyx at Echelon Seaport, the Business Journal reported, citing research from Hunneman.