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.
Image Credit: Boston Globe
The value option in Boston office leasing, the Financial District, holds the single largest concentration of office space and workers. Submarkets like the Seaport, Kendall Square, and Back Bay are pushing numbers in excess of the pre-2008 crash.
From the Boston Globe:
Data from the Boston office of Colliers International show that vacancy rates for the upper reaches of buildings in the Financial District — floors 20 and above — are at their highest in nearly a decade. And as a whole, the Financial District lost more tenants per square foot in 2016 than any other area in the city, ending up with nearly 850,000 more square feet of vacant space than in 2015…The Seaport District remains the new “it” address, with companies leasing an additional 400,000 feet of office space in 2016.
Does your office look like a maze of cubicles, bench seating or that of today’s tech firms? See how Carbonite has extended their brand onto their walls and doors at their new location?
A Boston Globe article Welcome to the new world of downtown office spaces. As tech firms have migrated into the staid Financial District and nearby environs during the past five years, they’ve done their best to put their unique stamps on work spaces. Goodbye, wood paneling. Hello, Yoda…Their offices have, essentially, become extensions of their brands — physical manifestations of how they view the world, and how they want the world to view them.
You can read the article on the Globe’s website.