Real estate company UrbanMeritage, in a joint venture with Novaya and Invesco Real Estate, has purchased a 36,000 square-foot retail complex located at the base of Hotel Commonwealth in the Kenmore area for $44,000,000. The complex, known as Kenmore Row, consists of parcels from 500-528 Commonwealth Ave., which includes Island Creek Oyster Bar, Eastern Standard, and The Hawthorne. UrbanMeritage is based on Newbury Street and owns a portfolio of properties there as well.
According to the leasing brochure on UrbanMeritage’s website, there is 1,044 square feet of space available for rent. It is unclear what kind of tenant would fill that space, though the brochure touts the space as an “opportunity to act as an amenity” as it is near “highly activated [and] awarded restaurants” in a “retail centerpiece in the heart of Kenmore Square.” An attempt by the Sun to reach Mike Jammen, a principal at UrbanMeritage, was unsuccessful.