The long awaited transformation of 50 Post Office Square has moved closer with a letter of intent being executed by Brown Brothers for 300,000 RSF. Currently the 18 story Class A building is offering 424,297 RSF for lease on 7th through 18th floors with floors plates just over 53,000 RSF.
“The non-binding commitment at the regional headquarters for Verizon Corp. follows months of considering alternatives in the area for a venerable financial services firm whose lease at nearby 50 Milk St. expires next autumn.”
Jump over to therealreporter.com for the full report.
Blue Ginger has been a mainstay in Wellesley for 14 years and consistently delivering East-West cuisine to their lunch and dinner guests. The addition of Blue Dragon — a new restaurant from Ming Tsai — in the Seaport will be a welcome selection for the business occupying the 31M RSF of office space within a .5 mile radius of 324 A Street.
The Boston Herald reports, “the host of PBS’ “Simply Ming” TV cooking show is slated to soon meet with the neighborhood about an eatery at 324 A St., site of the long-closed A Street Deli.”
Read more about Ming Tsai’s South Boston restaurant.
eBay is settling in on one of the Financial Districts 16 buildings that currently have more than 60K RSF of contiguous space according to CoStar. Vacancy within the Financial District is running just below 15 percent with opportunities in the low to mid rise space within the Class A inventory and the entire Class B market.
The Boston Business Journal offers some perspective on the transaction, noting “the lease would be one of the largest on record this year for the Downtown market and would mark a significant win for The Chiofaro Co., the International Place’s developer and current leasing manager.”
For more information, we recommend reading the Boston Business Journal’s full report.
State Street is on the move, and the Seaport continue to evolve.
The Boston Business Journal is reporting “the Boston Redevelopment Authority has put its stamp of approval on a $11.5 million tax break for State Street Corp., tied to the construction of a new office building in South Boston.”
To read more on the Seaport and State Street migration, click here.
Vacancy in the Financial District dropped to 14.8 percent with rents up 1.25 percent to just over $45.60, while Back Bay is just over $55.25 and the Seaport District is $51.00.
Banker & Tradesman states, “the Greater Boston office market enjoyed a strong second quarter, according to a new quarterly research publication released this morning by Richards Barry Joyce & Partners LLC (RBJ&P).”
To read the complete article, click through to Banker & Tradesman.