Florida-based Sunrise Capital Investors LLC , a national leader in mobile home park and parking facility investments, has acquired the Nautica Parking Garage, a structured parking asset located at 88 Constitution Rd. on the Charlestown Waterfront in Downtown Boston, for $12,850,000. A Colliers team of Frank Petz, Matthew Sherry, Rob Schlesinger, Daniel Hincks and Joe Gaziano represented the seller, National Development.
Situated in one of Boston’s most actively developing waterfront neighborhoods, the facility is surrounded by a dense concentration of hotels, restaurants, office buildings, and entertainment venues. The parking facility is open 24/7, and serves commuters, tourists and nearby hospitality and entertainment destinations throughout the Seaport and downtown Boston corridor.
“The Nautica Garage is the type of cash-flowing asset we target,” said Kevin Bupp, CEO of Sunrise Capital. “Prime urban location, strong daily demand and limited new supply leads to consistent performance over the long term.”
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