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Aggressive Marketing Campaign Unveiled for Struggling 600,000-SF Tower

BOSTON-Congress Group Ventures, along with CB Richard Ellis/Whittier Partners, the property's new leasing agent, unleashes an aggressive marketing campaign to get its 600,000-sf tower at 33 Arch St. pre-leased. The building is scheduled to open early next year and has yet to nail down tenants.

By Naomi Grossman | Updated on September 16, 2003

BOSTON-After more than a year of trying to get its 600,000-sf tower at 33 Arch St. pre-leased, Congress Group Ventures, along with CB Richard Ellis/Whittier Partners, the property’s new leasing agent, says it is launching an aggressive marketing campaign. The building is scheduled to open early next year.

About three months ago, Congress Group switched leasing agents from Trammel Crow to CB Richard Ellis. The building came online in one of the city’s worst markets in years. According to Grubb & Ellis’s most recent statistics, the city’s vacancy rate is still at 12.9%. The financial district’s rate is slightly higher at 13.6% and the average asking rent for office space in the area is about $46 per sf.

The marketing for the building will emphasize the advantages of “smarter” buildings, such as advanced technology systems, elevators and enhanced security and safety systems, features that are available at the 33-story tower.

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