Peter S. Farnum, a principal of Trammell Crow Co. and James F. Boyle, a vice president at the firm, represented Melick, Porter & Shea in the transaction, while property owner Equity Office was represented in-house by Glen Verrette and Bill Anderson.
Boyle notes that after looking at the market, "no alternative came close to the quality of Melick, Porter & Shea's current Equity Office space." Farnum notes that once Equity approached the law firm with an "aggressive" and early renewal proposal Melick, Porter & Shea's plans to relocate "were stopped in their tracks." He emphasizes that "Equity Office did a great job capturing this tenant that would have otherwise relocated. It is also a very strong deal for Melick, Porter & Shea that will prove a competitive advantage for years and years to come."
Lease rates for this deal were not available, but the average asking rent for space in the building ranges from $46 to $50 per sf, with prices going up on the higher floors. The 570,000-sf building is located across the street from the Faneuil Hall and Quincy market complex in the heart of the city's financial district. The building features a two-story lobby with two large waterfalls. It is nearly fully leased and among its office tenants are Salomon Smith Barney, Citizens Bank, McDermott Will & Emery, Hinckley, Allen & Snyder, Wellington Management Company and HQ Global Workplaces.
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