The building, located in the financial district, is situated adjacent to Faneuil Hall Marketplace and the area that will become the Rose Kennedy Greenway. The 310,396-sf building is nearly 70% leased with about 116,000 sf of space available. Among its current tenants are Wellington Management Co., the Parthenon Group and Grubb & Ellis Co.
According to Richards Barry Joyce & Partners' 2004 Mid-Year Review & Forecast, the city's financial district submarket experienced 430,000 sf of positive absorption during the first six months of 2004. John Barry, partner, and Shannon Herold, associate, of Richards Barry Joyce & Partners represented Sullivan Properties, while Morgan Brown & Joy was represented by David Richardson of McCall & Almy. Lease rates for this deal were not available but the average asking rent for similar office space in the area is approximately $38 per sf.
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