Invesco Fills Boston 'Jewel Box' Building

BOSTON-A quartet of leases has brought the Financial District’s 84 State St. to 100% occupancy, according to brokers for the landlord, Invesco Realty Advisors. Among the city’s cadre of so-called “jewel-box” office buildings, the Beaux-Arts style structure houses more than 40 tenants despite a moderate frame of 11 stories and 120,000 sf.

“That shows how much people love the building,” says Lincoln Property Co. broker Jeff Moore, who joined Boston office chief John Miller in negotiating the latest leases on behalf of Invesco. “It’s a class B building with class A amenities and location,” Moore tells GlobeSt.com of the building, an historic treasure revered as one of Boston’s first commercial properties. Lincoln has represented 84 State St. since Invesco acquired the asset approximately 10 years ago, and Moore says the fundamentals have remained superior on both occupancy and rent levels.

The home to such well-known firms as Colliers International, 84 State St. completed nearly 15,000 sf of transactions in the recent flurry to reach full occupancy. The largest deal was cemented by Brooke Private Equity Advisors, followed by Gelb & Gelb, Mad River Management and Abbott Real Estate Development. Tenant brokers included Andy McDonald for Mad River, and Chris Rogers and Bryan Sparkes of Grubb & Ellis assisting Gelb & Gelb. Brooke was represented by Andy Hoar and Taidgh McClory of CB Richard Ellis.