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Sunrise Capital Investors LLC has expanded its parking portfolio with the acquisition of the Nautica Parking Garage on Boston’s Charlestown Waterfront. The Florida-based firm, which focuses nationally on mobile home park and parking facility investments, purchased the structured parking asset at 88 Constitution Rd. in Downtown Boston for $12,850,000. The property adds an urban, waterfront garage to Sunrise Capital’s holdings, aligning with its emphasis on income-producing parking assets.
The Nautica Parking Garage is positioned in one of Boston’s most actively developing waterfront neighborhoods. The immediate area is characterized by a dense mix of hotels, restaurants, office buildings, and entertainment venues that generate sustained demand for structured parking. The facility operates 24 hours a day, seven days a week, serving commuters and tourists as well as guests and patrons visiting nearby hospitality and entertainment destinations across the Seaport and downtown Boston corridor.
The seller, National Development, was represented in the transaction by a Colliers brokerage team composed of Frank Petz, Matthew Sherry, Rob Schlesinger, Daniel Hincks and Joe Gaziano. Their mandate covered marketing the garage and advising the seller through the sale process. The transaction reflects continued investor interest in structured parking assets located in walkable, amenity-rich urban districts where demand is supported by a broad base of commercial and leisure activity.
Commenting on the acquisition, Kevin Bupp, CEO of Sunrise Capital, described the Nautica Parking Garage as the type of cash-flowing property the firm targets. He cited the garage’s prime urban location, strong daily demand and limited new competing supply as drivers of consistent long-term performance. Those characteristics align with Sunrise Capital’s investment strategy of focusing on stable, high-utilization parking facilities in established markets.
The Nautica Parking Garage’s role as a round-the-clock parking option for multiple user groups underpins its revenue profile. Commuters accessing downtown employment centers, tourists visiting Boston’s waterfront attractions, and guests of nearby hotels and entertainment venues all contribute to demand. With new parking supply described as limited in the surrounding area, the facility is positioned as an important component of the local mobility infrastructure serving the downtown and Seaport corridors.
While detailed operational metrics and future capital plans were not disclosed, the transaction highlights ongoing capital flows into specialized parking assets within high-density, mixed-use urban environments. For both institutional and private investors, structured parking that benefits from strong location fundamentals and diversified demand drivers continues to offer a way to capture steady cash flow within an otherwise evolving urban real estate landscape.
The post Sunrise Capital Investors Buys Nautica Parking Garage on Charlestown Waterfront in Boston appeared first on CRE Market Beat.
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