Tag Archives: One Financial Center

0 Boston Office Towers Experiencing Strong Leasing Activity

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Internation place in Boston

One International Place in Boston

Some of Boston’s largest office towers have experienced strong leasing activity in either attracting new tenants or renewing their existing ones.  Some building highlight are the following commercial spaces:

·         One Financial Center – Owned by Beacon Capital
·         One Federal Street – Owned by Tishman Speyer
·         International Place – Owned by The Chiofaro Company
·         John Hancock, 200 Clarendon Street – Owned by Boston Properties

“A Boston Business Journal analysis of some of the largest towers in the city shows that many are enjoying their highest occupancy rates in years, although the good times haven’t come easy. Financial filings indicate these landlords have been working on overdrive to keep their properties filled, with many having to thread some impressive needles in order to head off or counter major lease expirations before they bite.”

You can view the BBJ’s status update “based on recent loan-servicer filings, on some of the biggest office properties in Boston’s downtown market,” here.

0 Definition of Class A Office Space

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What defines Class A office space?

According to CoStar, Class A office space is defined as follow:

In general, a class A building is an extremely desirable investment-grade property with the highest quality construction and workmanship, materials and systems, significant architectural features, the highest quality/expensive finish and trim, abundant amenities, first rate maintenance and management; usually occupied by prestigious tenants with above average rental rates and in an excellent location with exceptional accessibility. They are most eagerly sought by international and national investors willing to pay a premium for quality and are often designed by architects whose names are immediately recognizable. A building meeting this criteria is often considered to be a landmark, either historical, architectural or both. It may have been built within the last 5-10 years, but if it is older, it has been renovated to maintain its status and provide it many amenities. Buildings of this stature can be one-of-a-kind with unique shape and floor plans, notable architectural design, excellent and possibly outstanding location and a definite market presence.

Some notable Class A buildings in Boston:
John Hancock Tower: 200 Clarendon Street
Bank of America: 100 Federal Street
Prudential Center: 800 Boylston Street
Federal Reserve Plaza: 600 Atlantic Avenue
Exchange Place: 53 State Street
One Federal Street: 1 Federal Street
One Financial Center: 1 Financial Center
100 Summer Street: 100 Summer Street
International Place: 1 International Place