Institutional Property Advisors Exclusively Offers Downtown Boston Retail Space for Sale
March 09, 2026
BOSTON, March 9, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the exclusive offering for sale of a 20,000-square-foot retail space in the Downtown Crossing shopping district in Boston, Massachusetts. The price is $13,710,000.
"The space will be 100% occupied by a Teso Life flagship store on a parent-guaranteed 10-year lease with two five-year renewal options and annual rent increases of 3%,” said Jim Koury, IPA senior managing director investments. “With 22 million annual visitors and retail vacancy of 2.4%, Downtown Crossing is one of Boston’s most-visited shopping districts.” Koury is representing the seller, WREC Washington Street Acquisition LLC.
The property is adjacent to Boston Common, the historic Freedom Trail, and the Downtown Crossing MBTA rapid transit station, which serves Harvard, MIT and many of Boston’s major companies and institutions. South Station, Boston’s busiest transportation hub, is within walking distance. Northeastern University, Tufts University, and Boston University are nearby. Shopping at Copley Square, Prudential Center, and Faneuil Hall Marketplace are also within walking distance of the property.
The retail space is distributed over three floors at 459 Washington St. in a building constructed circa 1900 and built out in 2017. The floors are connected by an elevator and escalators. The daytime population within a half mile is 169,000.
"The space will be 100% occupied by a Teso Life flagship store on a parent-guaranteed 10-year lease with two five-year renewal options and annual rent increases of 3%,” said Jim Koury, IPA senior managing director investments. “With 22 million annual visitors and retail vacancy of 2.4%, Downtown Crossing is one of Boston’s most-visited shopping districts.” Koury is representing the seller, WREC Washington Street Acquisition LLC.
The property is adjacent to Boston Common, the historic Freedom Trail, and the Downtown Crossing MBTA rapid transit station, which serves Harvard, MIT and many of Boston’s major companies and institutions. South Station, Boston’s busiest transportation hub, is within walking distance. Northeastern University, Tufts University, and Boston University are nearby. Shopping at Copley Square, Prudential Center, and Faneuil Hall Marketplace are also within walking distance of the property.
The retail space is distributed over three floors at 459 Washington St. in a building constructed circa 1900 and built out in 2017. The floors are connected by an elevator and escalators. The daytime population within a half mile is 169,000.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.