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
Oxford Properties 125 Summer Street is new home for Analog Devices innovation lab. Citing ease-of-access to public transportation as a key influencer in its decision to move to 125 Summer Street in Boston’s Financial District.
From the BBJ:
Analog Devices Inc. is more than tripling the size of its startup incubator and emerging technologies lab in a move from Cambridge to downtown Boston — an expansion that will allow the Norwood-based multinational semiconductor company to hire an additional 80 to 140 workers for its emerging-technology group.
The [125 Summer St.] office provided the best mix of easy access to both the MBTA Red Line — a must for a company with roots at MIT, and an employee base that lives in Somerville and Cambridge — as well as what O’Doherty called the burgeoning startup culture of both downtown and the Seaport.
The Boston office market is seeing strong rent growth in all classes and in all CBD submarkets. Landlords continue to try to differentiate their buildings by offering amenities and upgrades. Oxford is making a big splash in this space with lobby upgrade at 125 Summer Street in the Financial District.
According to the BBJ, Oxford is planning “a $10 million project to upgrade the building’s ground floor and lobby and reposition the entrance of the building to the confluence of Summer and High streets. The renovation was designed by ADD Inc., now with Stantec, while Turner Construction Co. is the general contractor…Oxford [recently] teased the renovation by erecting a two-story kelly green and navy blue banner at the site of what will become the entrance to 125 Summer St. with an all-caps proclamation: “Something big is coming.”
You can read the full article on the Boston Business Journal’s website.
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125 Summer Street
Office building at 125 Summer Street (click for details)
Our city is on the move, and along with it, some noteworthy addresses. 100 High Street and 125 Summer Street are the latest towers to announce that they are under agreement to be sold by Equity Office, Blackstone. The sale is expected to close in September.
The BBJ, reporting on Blackstone’s portfolio activity, notes “the private equity firm, which acquired its Greater Boston property portfolio in 2007 when it bought Equity Office Properties Trust for $39 billion, has reached an agreement to sell five office properties in Greater Boston to a Canadian real estate investment firm. The deal is the latest move by New York-based Blackstone as it disposes of the local real estate portfolio it bought before the financial crisis.”
More information is available on the Boston Business Journal’s coverage, here.
125 summer street in Boston
Who is your new landlord and should you care? Equity Office, Blackstone, is in the process of selling off assets. The newest to be announced are 100 High Street and 125 Summer Street.
From Banker & Tradesman:
“Private equity giant Blackstone Group will sell five Boston properties to Oxford Properties Group of Toronto for $2.1 billion, the Wall Street Journal reported.
The deal comprises 3.2 million square feet of office space, including 100 High St. and 125 Summer St. in Boston…Oxford will jointly purchase three other properties with J.P. Morgan Chase: 60 State St. and 225 Franklin St. in Boston and One Memorial Drive in Cambridge, the Journal reported.”
Additional details on the sale are available on the B&T website.