James J. Adams, executive vice president, and Brendan Carroll, associate, at NAI Hunneman Commercial, represented Independence Investments LLP, which is offering the space. Jay Driscoll at Cushman and Wakefield represented ManageSoft.
The property, also known as Exchange Place, is the former Boston Stock Exchange building. It now has a new 40-story, reflective glass office tower. The building totals 1.1 million sf of space and is leased to tenants such as Independence Investments, Citizens Bank, Salomon Smith Barney and the law firm of Goodwin Procter.
Lease rates for this deal were not available, but the average asking rent for office space in the city's financial district is about $38 per sf, although sublease deals tend to command a lower than average rate. According to the most recent statistics from Trammell Crow Co., the overall availability rate in the area's class A space is at 15.4%, while the vacancy rate, which does not include sublease space, is at 11.3%.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
