New Balance Sells Former World HQ For $72M
Posted By: Boston City Properties
The athletic footwear and apparel maker New Balance sold the building previously used as its world headquarters located at 20 Guest Street in Boston for $72 million. The 20 Street Guest property was New Balance’s premier world headquarters site. In 2015, the company moved its headquarters to a newly constructed 250K square feet building overlooking the Massachusetts Turnpike.
When NB first completed the building in 2015, it was the first building that was part of a visionary real estate development project in Boston Landing. The building’s design was to be a representative emblem of the Massachusetts industrial tradition. Part of the inspiration for the design came from the New Balance manufacturing facility in Lawrence, MA. The modern styled atrium in the building boasted an interactive Visitor Engagement Center that showcases its rich history, culture, athletes, and new products.
The 228 Square feet Guest Street facility is near the thriving Boston Landing neighborhood. This neighborhood is the Allston Brighton area Boston Landing development area, including the MBTA commuter rail stop.
The building had no empty units at the time of the sale. Its tenants’ list includes Harvard Business Publishing, the Major League Lacrosse Headquarters, and Butcher Box, the meat delivery service. Adjacent to the property is the practice facilities for the Boston Bruins and the Boston Celtics. Another project under development and led by New Balance is a 3500-person performance venue with a running track facility.