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33 Arch Leases Up Another 65,000 SF

BOSTON-After over a year with no activity, 33 Arch St., the city's newest office tower, is suddenly 50% leased with the SEC leasing 65,000 sf in the 33-story building. The move comes a week after Digitas said it will be leasing 200,000 sf in the building.

By Naomi Grossman | Updated on April 29, 2004

BOSTON-After more than a year of pre-leasing efforts, the 600,000-sf tower at 33 Arch St. nails down its second major tenant in less than week and leases up nearly 50% of the building. The US Securities and Exchange Commission is leasing 65,000 sf of office space on the 22nd, 23rd and 24th floors. Andy Hoar, president and co-managing partner, Timothy M. Lyne, executive vice president/partner, and Lisa Bevacqua, an associate at CB Richard Ellis/Whittier Partners, represented 33 Arch St. in the transaction. The building is owned by Congress Group Ventures along with the Value Enhancement Funds managed by Lend Lease Real Estate Investments, the National Electrical Benefit Fund and Eastern Development. Ted Wheatley and Timothy Weinhold of the Staubach Co. represented the SEC, which is scheduled to relocate in November from 73 Tremont St. Last week, Digitas said it will be leasing 200,000 sf of office space at the tower where it will relocate its headquarters in mid-2005. The building came online in one of the city’s worst markets in years and its empty space was indicative of the state of the former roaring market. Despite the lack of pre-leasing deals, Congress Group moved ahead with the building’s construction. The building is scheduled to be completed next month.Hoar notes that the building, which is located in the city’s financial district and Downtown Crossing, is the first post-9/11 tower in the city and he emphasizes that the building has “numerous safety and security features integrated” into its construction.

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