Colliers has arranged the sale of the Nautica Parking Garage, a structured parking facility located at 88 Constitution Rd. in Boston’s Charlestown neighborhood. The 297-space garage changed hands in an exclusive transaction, with a partnership of Sunrise Capital Investors and Parking Advisors acquiring the asset for $12,850,000. A Colliers team consisting of Frank Petz, Matthew Sherry, Rob Schlesinger, Daniel Hincks, and Joe Gaziano represented the seller, National Development.
The property sits at the entrance to the Charlestown Navy Yard, placing it within one of Boston’s most established and heavily visited areas. Its position near a historically significant waterfront destination underpins demand from both local users and visitors drawn to the neighborhood’s attractions and employment base. The garage’s structured format and defined stall count offer investors a stabilized, income-generating parking asset in a dense urban setting.
Colliers conducted a broad marketing effort focused on both local investors and national parking aggregators. This campaign generated substantial interest across buyer profiles and resulted in multiple rounds of competitive bidding for the property. The depth of the bid process highlighted ongoing investor appetite for well-located parking assets in high-barrier urban submarkets.
Parking Advisors, described as a national parking operator based in Chicago, ultimately led the acquisition in partnership with Sunrise Capital Investors. The buyers were attracted to the Nautica Parking Garage’s operating fundamentals, including its established usage base and embedded demand drivers tied to the Charlestown Navy Yard and surrounding Boston market. Their decision to pursue the asset through a competitive process reflects confidence in the long-term relevance of structured parking in this location.
For National Development, the sale marks a successful disposition of a non-core asset, with execution supported by Colliers’ targeted outreach to both regional capital and specialized parking investors. For the buyer partnership, the acquisition adds a scaled, strategically located facility within a historically significant and high-traffic Boston neighborhood, aligning with investment strategies focused on durable demand and established urban infrastructure.
