Category Archives: Downtown Crossing Office Space

0 Burnham Building in Downtown Crossing: AOL First to Move In

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AOL employees wait to go into the Burnham building in downtown crossing

Credit: Boston Business Journal

The former Filene’s building in downtown Boston has welcomed it first tenant, AOL. AOL moves into the rejuvenated downtown crossing area of Boston and becomes the new building’s flagship name for now.

The Boston Business Journal indicates, “AOL officially became the first tenant to move in to the renovated Burnham Building in Boston’s Downtown Crossing this morning…The New York-based media and tech company moved about 50 employees into sixth floor office space…Next Monday, 600 employees from advertising firm Arnold Worldwide and its sister agency Havas Media will move into about 125,000 square feet of the building, at the corner of Washington and Summer streets.

More information on the Burnham Building’s prospective tenants are available on the BBJ’s website.

0 Downtown Crossing Office Building at Filene’s Site Nears Opening

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old filenes buikding in downtown crossing office space

Credit: Betaboston

Downtown Crossing gets ready to welcome the new occupants of the Filene’s building: ad agency Havas.

Betaboston posted a first-look photo gallery, along with some details on the building’s design selections and interior motif:

“The four floors are connected by wide staircases, and Havas calls the space a “village,” since it will house employees of Arnold, Havas Public Relations, Havas Media, which handles online and offline media buying for clients, and several other teams. About 600 Havas employees move in on Monday. No one has private offices, and the 64 conference rooms are all named after departments of the old Filene’s store.”

0 Boston’s Newest “Innovation District” Emerging in Downtown Crossing

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office space for lease on Arch Street in Boston

33 Arch Street, Boston

Why are Tech and E-Commerce companies moving to Downtown Crossing?

  • Value – This seems easy, but a low to mid $30’s rent is still achievable within the Class B portfolio of options
  • Location – The neighborhood includes Class A office Towers, the new Millennium Place Condo’s, grocery store
  • Amenities – Live, Work, Play
  • Transportation – This area sits above the Red, Orange and Green Line and is a short walk to the Blue Line at State Street

From BostonSF.com:

“According to a new commercial real estate market report released by Cresa, Downtown Boston is still considered one of the country’s most dynamic office markets. As traditional industries, such as banking and financial institutions, in the Financial District continue to downsize and consolidate, large blocks of inventory are becoming available to tenants. And as technology and e-commerce companies continue to populate Downtown Crossing, the area is becoming Boston’s new ‘Innovation District.'”

 

0 Downtown Crossing Redevelopment Progresses: Roche Bros. Nears Opening

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office space in downtown crossing rendered

Credit: BBJ

The transformation of what was once the busiest pedestrian intersection in the city continues.  Roche Brothers answers the call to fulfill the long awaited hope for Downtown Crossing.

From the Boston Business Journal:

“renovation of the 102-year-old property began a year ago. Its restoration is part of Millennium Partners’ $689 million redevelopment of the shuttered Filene’s site. Adjacent to the Burnham will be Millennium Tower, a 625-foot building comprised of 442 luxury residences above 95,000 square feet of additional retail space on its lower floors.”

0 Downtown Crossing Poised for Another Triumph

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Downtown Crossing in Boston

Credit: Bisnow

This is not the first period of growth or transformation for DTX, also known as Downtown Crossing.  In 1979, Washington Street was made into a pedestrian-only roadway following the success of Faneuil Hall Marketplace.  This resulted in a modest decline following the popularity of the vending cart program.

The fate of the neighborhood, now, seems set for a steep incline:

Bisnow states, “$210M Millennium Place mixed-use residential project that opened Q2 last year tested how housing would fare in the heart of this commercial neighborhood. All of its 256 condos sold by year-end priced from $550k to $3.5M. As one of the first Boston condo developments to be completed since the recession, it showed that buyers would put down stakes in the CBD, permanently changing the character of the historic neighborhood.”

A more detailed history on Downtown Crossing is available in the Bisnow article.

0 Downtown Crossing Transformation Nears Completion

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construction in Boston's downtown crossing

Credit: NY Times

Live, work & play.  Downtown crossing is in the final phase of its transformation.  23 years ago I moved back to Boston from California and took the T to Park Street and walked to Milk Street daily.  At that time you could still buy a suit at Filene’s Basement.  Over those years we have seen retailers come and go and some shuttered buildings evolve to residential buildings.  Now, we are seeing the area become a destination location for office workers priced out of E. Cambridge, but wish to maintain Red Line access.  1,000 new housing units are coming online and the repurposing of the Daniel H. Burnham building into offices for Arnold Communications.

A national voice on Downtown Crossing, the NY Times, describes “some $4 billion in private investment over the last decade is finally stoking the long-neglected district with both a new attitude and fresh appeal. Developers are rapidly reinventing Downtown Crossing as an upscale residential neighborhood filled with stores, restaurants and cafes catering to students and young professionals.”

The NYT article is available online: New Energy Rouses Boston’s Downtown Crossing

0 Downtown Crossing Office Building May Become Boston Landmark

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Downtown Crossing office space on Washington Street in Boston

Credit: Boston Business Journal

As I tour the Financial District with clients many ask about this building located and 276-278 Washington Street or 7 Water Street which is bordered by Washington, Water and Devonshire Street.  According to public record, the ownership is a Fidelity Company.

The Boston Business Journal reports that in order for the 9-story building at 276-278 Washington St. to become a historic landmark, “the process in Boston can take up to a year. The designation procedure is initiated by the submission of a petition, which is followed by a preliminary hearing before the commission, the preparation of a study report on the proposed landmark, and another public hearing. To be designated, a property must receive a two-thirds majority vote from the commission and be confirmed by the mayor and City Council. When a property is designated a landmark, any physical changes must be approved before they are undertaken.”

Additional details on the building are available in the full BBJ article, here.

0 Downtown Crossing Office Space and Residential Markets Both Booming

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Downtown crossing in Boston

Credit: Wall Street Journal

This is the hottest office and residential market going and has evolved from one of the seediest.  Yes, Downtown Crossing; with great MBTA access and new developments, business are moving in and residential developments are emerging from shuttered buildings.

The Wall Street Journal recently wrote about the developments and high-rises taking over Downtown Crossing, noting, “New luxury developments are transforming Boston’s Downtown Crossing from a neighborhood once called the “Combat Zone” to an enclave of luxury living…The new wave of development is transforming the landscape of Downtown Crossing. The neighborhood’s population increased 44% from 2000 to 2010, compared with a 4.8% rise in Boston’s total population, says the Boston Redevelopment Authority.”

A national view on the transformation of Boston’s Downtown Crossing is available on the WSJ’s website, here.

0 Improvements Marked for Downtown Crossing T-station

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Downtown crossing mbta station

Credit: Boston Herald

The growth of our city is at a pace not seen in years; tower cranes, cement trucks and the endless parade of tradespeople. What about below our city streets; are we building infrastructure to support this influx? This Boston Herald article about the Downtown Crossing T-Station caught my eye and merits some airtime.

A quote from  T spokesman Joe Pesaturo, in the Boston Herald, piece focuses on the renovations at downtown crossing:

“The MBTA recently solicited bids for a sewer relocation project under the former Filene’s building. It is a first step in a multi­phase project involving the Downtown Crossing station that will include access and aesthetic improvements.”

The full article is available on the Boston Herald’s website.

0 Burnham Building in Millennium Tower Lands Fashion Retailer

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Burnham office Building at the Millennium Towers Complex

Credit: Banker & Tradesman

Another new lease for the Downtown Crossing, this time its retail.  Headquartered in Dublin Ireland, www.primark.com was founded in 1969 and today operates 250 store in eight countries.

From Banker & Tradesman: “Fashion retailer Primark has signed a long-term lease for 112,000 square feet at the Burnham Building in the Millennium Tower complex at Boston’s Downtown Crossing…Dublin-based Primark’s first U.S. store will occupy four floors in the eight-story Burnham Building, including 70,000 square feet of retail floor space.

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