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First Marblehead Takes 100,000 SF in Back Bay

BOSTON-First Marblehead Corp. leases 98,272 sf in the Park Square Building at 31 St. James Ave. The deal, which brings the occupancy rate in the 500,000-sf building to more than 90%, is one of the city's largest commercial office deals this year.

By Naomi Grossman | Updated on March 08, 2004

BOSTON-In one of the city’s largest commercial office deals so far this year, First Marblehead Corp. signed a long-term lease for 98,272 sf in the Park Square Building at 31 St. James Ave.

The tenant services team of David W. Campbell, executive vice president and partner, and Robert B. Cleary, Jr., SIOR, president and co-managing partner, of the Codman Co. represented the tenant, assisted by Peter Farnum, principle of Trammell Crow Co., while property owner OMV Associates Limited Partnership was represented by Ogden White, vice president of CB Richard Ellis/Whittier Partners, and John Karnath, managing director of Capitol Properties.

Lease rates for this deal were not available but the average asking rent for space in the 500,000-sf building is about $30 per sf. The deal brings the building up to over a 90% occupancy level. Among the building’s other tenants are Schlesinger Associates, Houghton Mifflin, Kopelman & Paige PC, Consulate General of France, Yankee Group and Liberty Mutual.

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