Despite the area's largely residential and retail nature, the building's developers are optimistic that the city's tight market will encourage office tenants to look this way. "The location is what attracted us to this property," Bill Vrettas, vice president of Pappas Industrial tells GlobeSt.com. Vrettas adds that his locally-based firm pursued the property for a number of years because of its proximity to Downtown and Cambridge and its easy access to Route 93 and the Mass Turnpike. Gillette headquarters is across the street.

Pappas paid Court Square Press $15 million for the property and invested an additional $15 to $20 million. Vrettas says that the dire predictions of too much space in the city as high tech companies put their properties on the block are "not currently a cause for concern." Lease rates for the building are in the $40 per sf range, much lower than Downtown's $80 to $90 per sf range. While Vrettas wouldn't name any clients, he said that Pappas, through Trammell Crow, its leasing agent, is negotiating with a number of potential tenants.