Tishman Speyer, owner of 125 High Street executed a 102,969 square-foot lease with Boston-based law firm, Burns & Levinson. After nearly a 30-year tenure at 125 Summer Street, the firm will occupy the 3rd and 4th floor to increase efficiency and workplace collaboration.
125 High Street is a 30-floor postmodern high-rise in the Financial District owned by Tishman Speyer; the developer for Pier 4 in the booming Seaport district. Notable occupants at 125 High include Houghton Mifflin Harcourt, Wells Fargo, Morgan Stanley, and GID Investment Advisors.
The building was designed by Jung Brannan Associates and completed in 1991.
Burns & Levinson was founded in 1960 and currently employs 125 lawyers across its 5 different offices in New England. It’s regarded as one of the regions most prestigious firms.
According to Burns & Levinson press release, “The new space features a larger floor plate across two floors – versus the firm’s current five-floor configuration – that will allow Burns & Levinson to create an environment that better reflects the collaborative way that the firm’s 250 plus lawyers and staff currently work and interact. Burns & Levinson has hired Gensler to design the interior.”
• 125 Summer Street offices for lease
• Office space in Boston Financial District
Please have a look at Boston Properties new North Station development.
From the Boston Business Journal:
The Hub on Causeway’s office tower was originally approved to rise 420 feet and span 668,000 square feet. Boston Properties is seeking approval now to build a 24-story tower rising 495 feet at its highest occupiable point, spanning 651,500 square feet. The project’s architect is Gensler.
“The design team has made an effort to move away from a conventional glass clad tower,” the notice of project change filing states. “The overall massing of the building has been reshaped to respond not only to internal tenant needs but also to better integrate the structure with the scale and texture of its immediate surroundings.”
The Boston’s Globe’s former office site is poised to be an “Innovation Campus” to foster growth and creativity for our economy. Expected delivery is in the Fall of ’19.
“The BEAT” (The Boston Exchange for Accelerated Technology) will be a life science, technology, and advanced manufacturing facility, a Nordblom spokesman said, its name an homage to the beat reporters who worked in the newsroom headquarters for more than 60 years before the paper moved downtown in 2017, a nod to the nearby Red Line as a neighborhood artery, and a gesture at the lively and open space they hope to cultivate at the fortress-like site.
“Our job is to create something to which people want to go, a great place where they want to work,” [Todd Fremont-Smith, senior vice president and director of mixed-use projects for Nordblom] said. “The city is out of space. The Seaport is done; Back Bay’s done.” And given the need for office, tech, and light industrial workplaces, he said, “we’re trying to do it in a creative and funky way that captures people’s imaginations.”
Credit: Boston Business Journal
What does the shorter Winthrop Square tower now look like?
According to the Boston Business Journal, the refined Winthrop Square tower will include the following:
- 500 residential units;
- 750,000 square feet of office space;
- 21,000 square feet of publicly accessible meeting space;
- 21,000 square feet of restaurant/retail space;
- 115,000 square feet of affordable housing that could be built in Chinatown in collaboration with the
- Asian Community Development Corp.;
- Two exterior green roof spaces; and
- Capacity for 550 vehicles in five levels of underground parking.
The update follows an ongoing discussion around the impact of the shadows cast onto the Boston Common given the tower’s height, orientation, and location.
Class A landlords are continuing to update and upgrade their assets to address the evolving needs of today’s tenant. The 402-foot, 41-story Class A tower at One Post Office Square was built in 1981 and is 832,000 rentable square feet with a typical floor plate of 18,221 square feet.
Credit: Banker and Tradesman
A recent Banker and Tradesman article speaks to the proposed transformation, noting the office “tower in Boston’s Financial District will get a new glass facade, a roof deck and terraces and an illuminated rooftop glass “lantern”…On the lower levels, a three-story glass pavilion will add 52,100 square feet of retail space and an 8,800-square-foot restaurant…An 18-story addition replacing the existing garage on Oliver Street would [also] contain automated parking and additional office space.”
Click on the link for additional information on the One Post Office Square renovation on B&T’s website.
Will the Boston skyline elect to push heights in the upcoming years?
“Going higher is a fix to a lot of different things, from the housing shortage to taking the heavy load off the freeways into our city,” Perry Brokerage Director of Intelligence Brendan Carroll said.
Despite claims it has reached peak prices, Boston is still the third-most expensive city in the U.S. to rent. It has a cost of living nearly 40% higher than the national average, and low supply is keeping prices high. Cities around the world are in similar situations and have taken to building up as a way out of housing crunches.
Credit: Boston Globe
At the intersection of Huntington and Mass. Ave stands Horticultural Hall which will have a new owner, Marcus Partners. The building is 45,000-square feet and is scheduled for upgrades to the lobby and entrances.
According to the Boston Globe, “Horticultural Hall’s tenants include the Museum of Fine Arts’s William Morris Hunt Memorial Library, the New England Conservatory of Music, and the offices of Boston magazine.”
You can read more about the prospective updates to Horticultural Hall on the Boston Globe.
Back Bay could be getting some more height at 1000 Boylston Street from Weiner Ventures.
The parcel is a block away from the 254-foot Hilton Back Bay and 360-foot Sheraton North Tower as well as the 756-foot Four Seasons Hotel and Private Residences under construction. The 52-story Prudential Center tower is two blocks down Boylston. The complex would be on four different parcels, three of which are Mass Pike air rights plots.
If completed, 1000 Boylston will feature 182 apartments and 160 condominiums above a six-story podium composed of retail and parking. Its prominent location near the intersection of Boylston and Massachusetts Avenue is particularly complex due to the limited amount of ground the tower has for foundation.
Credit: The Daily Astorian
The roster of footwear brands with a headquarters or significant presence in Boston is vast and celebrated:
- New Balance
From The Daily Astorian:
“These companies cluster because they’re primarily looking for talent. You want to be where the people are,” said Matthew Powell, a sports industry analyst for the NPD Group, a New York-based market research firm. “They’re also trying to stay close to their consumer. Millennials are clustering in large cities, so it’s a great way to be plugged into where your consumer is.”
The moves also affirm New England – historically the nation’s footwear-making region – remains a viable center of the industry, said Nate Herman, a senior vice president at the American Apparel & Footwear Association trade group.
Seven new projects are scheduled to break ground in ’17 in Boston. Fears of a slowdown are not adopted by developers of Boston real estate.
Curbed, Boston outlines the 7 new projects slated for this year. Six of the properties are located in the Greater Boston area and one in Watertown, MA:
- 171 Tremont Street
- 700 Atlantic Ave
- A St & Necco Ct
- 660 Summer St
- Dorchester Ave & Hancock St
- Commonwealth Avenue & Brookline Ave