BOSTON-Seaport West kept two major tenants, as Foley Hoag LLP and Nutter McClennen & Fish LLP are signing renewals for their respective offices. Foley Hoag will remain in 198,000 square feet until 2021 and Nutter McClennan locked in 130,000 square feet over four floors for the next 10 years. Both law firms have been at 155 Seaport Blvd. since its inception in 2002.
"Nutter McClennen & Fish has a long history in Boston, which will remain our home for many years to come," says Michael E. Mooney, managing partner at Nutter MCClennen. "The building suits our needs well and those of our clients. We've had a very successful relationship with Pembroke, our landlord, and it's great being on the waterfront—a dynamic environment with harbor views."
The Seaport West totals 575,000 square feet and tops out at 17-stories. It is a LEED Silver certified tower and part of Seaport Place, which includes Seaport East, the Seaport Hotel, Seaport World Trade Center and retail shops, as well. Although Pembroke, nor RBJ would reveal the price per square foot, Cushman & Wakefield notches the average rate at the Seaport to be $33 per square foot.
Michael Joyce, John Barry and Thomas Ashe of Richards Barry Joyce & Partners represented Nutter McClennen in the deal, while William Barrack and Patrick Nugent of Jones Lang LaSalle represented the landlord. Charles O'Connor and Will Foley of FHO Partners repped Foley Hoag. The property has 87% occupancy. According to RBJ's OfficeSTATus, Downtown Boston sits at 11.6% vacancy, while the Seaport is at 22% vacancy by Cushman & Wakefield's count.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 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.