Verizon Will Lease 70% of TD Garden Workplace Tower for Term of 20 Years in Largest Workplace Lease Checked In Boston Year to Date
An affiliate of Verizon Communications signed a 20-year lease for 440,000 square feet of office at a 31-story office tower planned as part of a $1.2 billion joint endeavor advancement in between national workplace investment trust Boston Residence and independently held hospitality company Delaware North.
Verizon’s lease at the 627,000-square-foot workplace tower under building and construction above North Station at The Center on Causeway is the biggest of the year in Boston. The 1.5 million-square-foot retail, office, hotel and property project, which includes a growth of Delaware North-operated TD Garden, Boston’s sports and home entertainment arena, is now 75% rented.
The lease dedication is reported to be on the part of Oath Inc., a subsidiary of Verizon Communications that functions as the holding business for its digital material subdivisions including AOL and Yahoo!
The first phase of the Gensler-designed Hub on Causeway, which integrates a revamped entryway for the TD Garden arena, is set for October. The retail and office space are scheduled to open in late 2019.
The second phase, which includes a hotel and property spaces, will likewise be completed late next year. Completion of the 31-story workplace tower to be occupied by Verizon, the tallest integrated in Boston in more than two decades, is arranged for mid-2021.
Building complemented in early July at Boston’s first citizenM hotel, a 269-room hotel in an eight-story tower on top of the west podium planned to open in fall 2019.
Boston Properties is managing all advancement elements of the job under construction by John Moriarty & & Associates. The Cushman & & Wakefield brokerage group led by Josh Kuriloff in New York and John J. Boyle III in Boston represented Verizon in the lease.