BOSTON—Putnam Investments reports it will begin shifting its headquarters operations in 2018 from One Post Office Square to Boston Properties' 100 Federal St. tower.
The global money management investment company, which has called Boston its home since 1937, has leased approximately 250,000 square feet at the 41-story office tower. The 15-year lease deal involves 11 floors at the building. Jon Goldstein, a spokesman for Putnam Investments, tells Globest.com that the company will begin shifting workers from its One Post Office Square headquarters to 100 Federal St. in 2018 and will hope to be fully operational there in 2019.
The company's lease for approximately 240,000 square feet of space at One Post Office Square expires in 2019, he adds. Putnam Investment has housed its headquarters staff at One Post Office Square since 1978.
The company currently employs approximately 900 workers at its current headquarters building, but will likely have about 1,000 once the move is finished, Goldstein says. He adds that the company was attracted to 100 Federal St. because it allows the company flexibility for growth. Putnam Investments will also have a prominent presence in the building lobby as well as signage on the façade on the Congress St. side of the tower.
"As a firm that takes great pride in its Boston heritage, Putnam Investments is extremely pleased to establish our global headquarters in a building that is a powerful presence on the city's landscape, symbolizing the strength of the region's financial services industry," says Robert L. Reynolds, president and CEO of Putnam Investments.
He adds, "Our corporate headquarters has always been a reflection of our identity, sense of purpose and commitment to excellence, as we do our best each day to serve clients and deliver strong investment performance," notes Reynolds. "The 100 Federal St. location offers the ideal mix of modern, high-quality facilities in the heart of Boston's financial district, with flexibility of space that will allow our firm to grow its onsite presence—as our business grows—over time."
In a prepared statement, Bryan Koop, senior vice president and regional manager for Boston Properties, says of the long-term lease deal with Putnam Investments, "We are thrilled to welcome Putnam Investments to 100 Federal St. Putnam's powerful international brand and headquarters presence solidifies Congress and Franklin as the financial hub of Downtown Boston. Putnam will also be playing a key role in the activation and programming of the new public atrium being added to the building on Congress Street."
100 Federal St. is bounded by Franklin, Congress and Matthews streets and occupies an entire two-acre city block. Among its major tenants includes Bank of America. Putnam Investments also has operations at 7 Shattuck Road in Andover, MA, where it employs approximately 900 workers and occupies approximately 330,000 square feet of space. Putnam's Goldstein notes that the company plans to retain its operations in Andover and intends to grow the workforce there over time.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
