Ben Heller, with Jones Lang LaSalle's Boston office, tells GlobeSt.com that leasing at the 16-story, 301,896 sf class A tower was not only helped by the end to the city's massive Big Dig project, but by the reputation of building owners, Beacon Capital Partners. Beacon Capital acquired the property last summer. In the year since Beacon Capital acquired the property, about 90,000 sf of tower space has been leased, Heller says. With the eight leases, the building, located adjacent to Faneuil Hall, is now more than 96% occupied.
"Beacon is a dedicated owner that has made this kind of leasing possible with their commitment to make this a better building," he notes.
In the latest transactions, Eaton Vance Corp. took 34,096 sf; Allsteel, 12,420 sf; Knight Securities, 4,500 sf; and Grubb & Ellis, 1,737 sf. Also signing lease deals were Newbury, Piret & Co. Inc., 6,442 sf; Wellington Management Co. LLP, 5,548 sf of expansion space; Hartford Investment Management Co., 3,407 sf; and Capital Resource Partners, 7,134 sf.
Terms of the leases were not disclosed but Heller says tower space in the State Street area generally rents in the mid-$40-per-sf range. Heller, along with Bill Barrack and Bill Motley, also with Jones Lang LaSalle, represented the landlord in the transactions.
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