Tag Archives: boston

Office Tower in Boston'' s Seaport Sells for $450 Million, Big Workplace Record for 2018

CommonWealth Partners has paid $450 million for the new office tower on Pier 4 in Boston’s surging Seaport District, a record for this year that shows the accelerating demand for the city’s historic waterfront that’s drawing major corporations from Amazon to General Electric.

The 13-story tower at 140 Northern Ave. is 372,372 square feet and is set up for completion this month. It’s known simply as Pier 4. CommonWealth, the Los Angeles financial investment firm, paid $1,208 per square foot for the tower, the highest per-square-foot price for a large-scale workplace task in the city in 2018, inning accordance with CoStar information.

The Seaport District has actually become one of the most popular Boston workplace areas in a city that has seen a boom in the sector in the decade considering that the economic downturn. For Boston, the surging need for the location belongs to an extended payoff for an enormous cleanup of the harbor started in the 1980s that was followed by the removal of an overhead expressway that utilized to cut off the section of the city.

Newmark Grubb’s capital markets group led by Rob Griffin brokered the offer for Tishman Speyer, the New York investment and development firm that developed the home.

Boston Consulting Group has actually signed on for about half the area in the tower for its brand-new global headquarters. Other renters include Cengage Knowing, a company that produces digital knowing applications, and Man Numeric, an investment company specializing in quantitative financial investment models. It’s now more than 95 percent leased.

The tower has about 30,000 square feet of retail area. Tatte, an upscale bakery, has actually already leased area there.

The building’s functions consist of a high-end fitness center, bicycle storage and a roof terrace with landscaped “living walls.” When all work is finished, it will include an acre-sized waterside park linked to the Boston Harbor Stroll.

Tishman is also establishing the final phase of their Pier 4 job, a nine-story high-end apartment project with 106 units costing $2 million and up.

Pier 4, which is near the former site of the city’s renowned seafood dining establishment Anthony’s Pier 4, is among many recent Seaport tasks developed on speculation. The neighboring 121 Seaport for instance, broke ground simply last summer. Developer Skanska USA, the New York arm of Swedish designer, had the ability to fully rent the 415,000-square-foot tower practically right away, to pharmaceutical business Alexion and software designer PTC.

Both Amazon and General Electric have devoted to space in the Seaport also. Amazon rented 430,000 square feet there in May and is thinking about another 500,000 square feet.

Inning accordance with CoStar research study, there’s about 600,000 square feet of brand-new office space under construction in the Seaport, about 4.3 percent of total inventory. Only the tech and education-heavy East Cambridge area has more advancement underway in Boston.

To learn more on the sale of Pier 4, please see CoStar Comp # 4489780.

Developers Boston Characteristic, Delaware North Secure 440,000 SF Lease from Verizon Affiliate to Anchor $1.2 Billion Advancement in Boston

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.

Church Apartment Conversions: A Bizarre Boston Phenomenon

Throughout the Metro, More Than 25 Previous Churches are Now The Home Of 600 Residential Systems


The conversion of the Holy Trinity German Catholic Church

into the Lucas condominiums In an effort to tap into Boston’s white-hot property market, a handful of bold developers have actually relied on an unconventional method: converting uninhabited church buildings.

Boston’s property market is on fire. Costly land for single-family house building, combined with bad apartment development, has actually triggered prices to skyrocket. Residences now cost near $500,000 typically, which is 80 percent more than the national average. Such tight market conditions have forced designers to become imaginative to bring brand-new inventory to market.

Churches might appear to be the last location designers would aim to develop brand-new condominiums. A lot of churches in Boston are well over 100 years old and typically weren’t built to bring in ideal light for property uses. Additionally, churches include deep emotional and historic value and repurposing makes sure to enrage more than a couple of regional citizens.

Still, there are reasons why this phenomenon is taking place. Church membership is way down, especially near the metropolitan core. Areas that were when home to working-class families that filled those pews have actually transformed. Locations such as the South End and South Boston are now primarily the home of well-paid and less-religious millennials, sapping churches of essential revenue.

Area of church to residential conversions, before and after 2010

Another reason is that residential or commercial property is frequently the most important possession spiritual institutions own. When times end up being tough, an underutilized church can be offered to bring quick cash. Long time locals are beginning to begrudgingly accept the conversion of these buildings over the alternative of tearing the structures down.

While much of the church-to-residential conversions were accomplished years back, several have finished up this cycle. The 139-year old St. Augustine Church in South Boston shuttered in 2004 and, regardless of resident concerns, by 2015 was changed into 29 high-end condominiums. New Boston Ventures just recently finished up operate in 2017 on the Lucas, a 33-unit apartment building constructed inside the previous Holy Trinity German Catholic. Developers reclad the sanctuary of this 1863 vintage church in glass, and now have the ability to command asking rates as high as $3.5 million for a three-bedroom system.

A number of more church conversions are in the pipeline consisting of the shuttered Church of the Spotless Conception in the South End and the Church of St. John the Evangelist in Beacon Hill.Don’t anticipate this pattern to continue to landmark cathedrals, however. Those cost redevelopment are normally smaller, secondary churches that do not attract adequate attention for preservation by other non-profits. Still, as long as Boston’s residential market stays hot, and church membership continues to fall, it would not be surprising if more churches give way for new homes.

Designers: No Condominium Fad in Shop in Boston Despite Strong Buyer Interest

While Need from Purchasers Is Up, Builders Face Extra Financial Hurdles, Lending Institution Issues, Easier to Stick With Rentals

Designers included a set of condominium towers totaling 153 systems as part of the largescale Ink Block mixed-use advancement in Boston’s South End.

Builders in Boston have begun to deliver some prominent apartment projects, a home pattern mirrored in some other significant cities around the country, leaving some to wonder if another “condo-craze” is set to go off.

But specialists state those for-sale domestic systems, while sought-after and largely effective, still cannot compete versus the rock-solid multifamily sector.

There’s near-unanimous agreement that need for apartments is high, with homeownership rates once again ticking up and a taste for urban living among buyers that makes apartments a natural choice.

In Boston, that’s resulted in the development of a handful of effective condominium developments: a set of condo towers, the Sepia and the Siena, totaling 153 systems that were included as part of the largescale InkBlot mixed-use development in the South End; Pierce Boston, in the Fenway, a 109-unit apartment project, and One Dalton, a 160-unit condo development set atop a brand-new Four Seasons Hotel.

Most of those jobs sold out throughout pre-sale, pre-construction periods.

But despite the realtively strong demand from buyers, developers of condominiums state demand alone doesn’t make condo advancement always more attractive than houses. Labor expenses, loaning requirements and higher carrying expenses still make apartments more of a financial threat for developers.

“I still believe in the long-lasting there’s going to be demand for apartments,” says Ted Tye, CEO of National Development of Cambridge, who developed the InkBlot, which had a mix of condominiums and leasings. “But with multifamily, you can go in with a relatively affordable expectation of returns. And you can offer it, or rent it, at some number.”

But with apartments, stated Tye, financial threats increase quickly. A developer should purchase the land, generally expense, and established a sales workplace on website, all before using to lenders for building and construction funding.

On the other hand, most banks prefer to see a high percentage of pre-sales prior to they dish out a loan. After apartment units are developed developers bring upkeep costs and taxes up until the units are sold.

“Typically speaking, equity sources have preferred to invest in rentals rather than condominium housing projects over the cycle,” said David MacManus, a senior vice president in business realty for Eastern Bank in Boston.

“We have all seen a wide variety of effective rental projects all over the Greater Boston Location, with excellent absorption rates and leas that have actually often surpassed the original forecasts. Add to that, exit cap rates have actually been strong and steady for many years now and that makes an appealing proposition for an equity source,” he included.

“When compared to big scale condominium advancement, it’s simply easier than handling sales danger, financing danger for purchasers and higher carrying expenses,” MacManus said. “There is certainly scope for condo development at present worths, and we do anticipate to see reasonably more in the future, however would expect leasings to be a considerable bulk of conclusions.”

In the last cycle, under much less-stringent financing and loaning rules, domestic apartments ended up being a major focus for developers. Builders not just established new ground-up condominiums, however likewise obtained existing apartment or condos for the purpose of transforming them into for-sale apartment units.

When thousands of condominiums went unsold, many owners reverted to renting them, flooding the house market with brand-new systems and triggering rents to plunge.

Lots of banks are still smarting from the losses that arised from various defaulted condominium tasks on their books and are naturally mindful about increasing direct exposure to the sector. And rules for apartment purchasers have actually tightened, even more limiting their appeal for designers.

Behind Boston Properties' ' Blockbuster $616 Million Deal for Santa Monica Service Park

Boston Office REIT’s Snags its Second Workplace Home in LA, Sees Redevelopment Opportunities for 47-Acre Complex

When Boston Residence Inc. closes its record-breaking deal to purchase the 1.2 million-square-foot Santa Monica Service Park for $616 million this summer, the business will take control of nearly a quarter of Santa Monica’s competitive office space and the rights to obtain the structures’ hidden land for future redevelopment of the 47-acre website.

News of the offer caught some market observers by surprise, however to the Boston-based realty investment company’s executives it was the culmination of years of planning and waiting for its opportunity.

“We have actually had our eye on this home for a long time,” said Jon Lange, vice president in Boston Characteristic’ Los Angeles workplace, to CoStar News.

The REIT’s executives ended up being thinking about the Santa Monica Service Park about three years ago, a full year prior to the company’s first Los Angeles acquisition in 2016, a 50 percent stake in another prominent Santa Monica office home, the 1.1-million-square-foot Colorado Center workplace complex.

The low-rise Santa Monica Business Park residential or commercial property has a lot going all out. In addition to being among the largest concentrations of office space on Los Angeles’ Westside, among the hottest and most supply-constrained office markets in the nation, the workplace park is nearly completely occupied by a variety of preferable tech and media occupants, from gaming business Activision Blizzard to messaging app maker Snap. Located on the eastern side of the city at Ocean Park Boulevard and 28th St., the residential or commercial property sits adjacent to the 227-acre Santa Monica Airport, which is anticipated to close and change into a public area in about a years.

The pending acquisition marks the 2nd in Los Angeles for the publicly traded company, and represents an essential action in its growth in this market, among simply five core markets in which the firm invests.

Boston Properties Chief Executive Owen Thomas stated the particular qualities of the property show the ways in which the company wishes to build its organisation moving forward.

“Unlike the myriad of 200,000-square-foot or less structures that we have been provided in West L.A. over the last two years this is our kind of project, provided its scale, its suitability to bigger business renters, the redevelopment opportunities that provide themselves with time, and the altering favorable dynamics over the next years provided the prospective decommissioning of the Santa Monica Airport,” he said in an earnings call Wednesday.

When Blackstone Group hired Eastdil Protected to offer the business park in 2015, Lange said Boston Residential or commercial property was prepared to fight for it.

“When you get the names of Blackstone and Eastdil Protected in a transaction, every significant property firm in the market will understand the chance,” stated Lange. “Offered Boston Properties’ existence in Santa Monica and our hands-on method to operating residential or commercial properties, we felt like we were the best company matched for this acquisition.”

Blackstone acquired the website, which sits on a ground-lease owned by the initial designer, as part of its $39 billion buyout of Equity Office Properties Trust in 2007. The personal equity giant is looking for to offer this home as well as one in Boston and another in San Francisco as part of its final push to dispose of former EOP properties.

Following a prolonged competitive bidding process that pumped up the list price to the smash hit final number, with the Boston firm besting such local rivals as Douglas Emmett Inc., Worthe Realty Group, Hudson Pacific Residences and Alexandria Property Equities, which were likewise contending for the deal.

The contract sale price sets a record in the city of Santa Monica and is amongst the leading sales ever in Los Angeles County, inning accordance with CoStar records.

While the business has the balance sheet to manage the acquisition, Boston Properties is likely to seek an equity partner for the property, CEO Thomas said on the call.

“We do not wish to increase the leverage of the company,” he described.

Santa Monica office leasing rates in the city can strike as much as $9 a square foot monthly near the ocean, and average $5 a square foot throughout the city, according to CoStar records. Regardless of the peak rates, vacancy in Santa Monica is only 7.8 percent.

Following the acquisition, Boston Characteristic will control about 24 percent of the competitive Class An office space in the city of Santa Monica with its ownership of two of the 3 largest workplace projects in the city– Colorado Center and business Park. An unit of JPMorgan Chase owns the 3rd, the 1.3 million-square-foot The Water Garden workplace complex.

The Santa Monica Service Park’s office buildings are 94 percent leased to 15 occupants including popular tech and media firms. Most of the job’s remaining job is connected to leases that have actually not yet commenced rental payments, Thomas said. Others are paying listed below market rents that might be increased when renewals come due. Thomas anticipates the residential or commercial property to create a 6 percent yield in about five years, he stated on the earnings call.

Most of the buildings sit on land owned by original designer, TransPacific Development Co. Boston Residence hopes to purchase that hidden land when that alternative appears in 2028. The buy-out cost will be connected to fair market prices at the time of the sale. It is currently estimated at around $250 million, inning accordance with a source acquainted with the residential or commercial property however not licensed to speak on the record.

“When the ground lease goes away, we believe the yield will be improved,” Thomas included, noting the present ground lease amasses a large – however undisclosed – payment quantity.

In the larger image, with this acquisition Boston Properties has the capability to own 47 acres in among the most supply constrained and highly in-demand office markets in the nation.

Down the roadway, there is likely to be redevelopment opportunity, one of its core strengths. The company has 13 workplace and residential advancements and redevelopments amounting to 6.5 million feet for an overall of about $3.5 billion in its pipeline nationwide.

Analysts are reacting positively to the news.

“Our company believe [Boston Characteristic] will have the ability to apply its development and redevelopment expertise and big balance sheet to create worth with time,” composed Jeffrey Spector, a research study analyst who follows the company for Bank of America.

Boston Properties executives said they expect to have conversations with the city and stakeholders about the future of website when the time is right.

“We hope that at some point there will be a conversation about how the redevelopment of the Santa Monica Airport and the 47-acre site that we will now own (and might have purchased the ground on), how they can be reconstructed and reconfigured moving forward over the next years or two,” stated Doug Linde, president of Boston Residence, throughout the REIT’s profits call today. “We are actually thrilled about the long-term capacity to do something here, not the short-term capacity.”

The company expects to seal the deal July 1.

MGM, Wynn tamp down Boston casino intrigue

Thursday, April 26, 2018|11:53 a.m.

Executives for MGM and Wynn are tamping down speculation the companies are silently in talks over Wynn’s Boston-area gambling establishment.

MGM Resorts International CEO Jim Murren stated today it would need to be an “exceptionally special circumstance” for authorities to consider another significant project after opening brand-new gambling establishments in China and the United States

New Wynn Resorts CEO Matt Maddox stated in a CNBC interview Wednesday that “Boston is not up for sale,” describing the company’s $2.5 billion Wynn Boston Harbor project.

But Maddox told investors Tuesday the business would to take “hard appearance” at the Everett, Massachusetts, task if there were signs it was impacting the rest of its company.

MGM President Bill Hornbuckle said Wednesday his business is focused on opening their $960 million Springfield, Massachusetts, resort on Aug. 24, which is sooner than expected.

Boston Properties Bests Competitors With $616 Million Winning Quote for Santa Monica Organisation Park

Fierce Competition for 1.2 Million-SF Site Lead to City’s Highest Ever Sale Price, Showing Strength of Westside Workplace Submarket

In what could be among the biggest workplace sales ever in Los Angeles County, Boston Characteristic has agreed to pay Blackstone Group $616 million for its 1.2-million-square-foot Santa Monica Service Park.

The pending acquisition represents a major expansion into the Los Angeles market for Boston Properties, the most recent of its five core markets. For Blackstone, the sale brings a high cost for among the last pieces of its 2007 acquisition of Equity Office Characteristic Trust, and stands as a testimony to the ongoing strength of the Westside office market.

The openly traded Boston-based workplace company, one of the biggest real estate investment trusts in the nation, divulged the hit deal in its very first quarter revenues report today.

The $616 million purchase, expected to close later on this quarter, includes the entire 21-building workplace park, which is 94 percent occupied. Significant renters include disappearing messaging app Snapchat’s moms and dad business, which inhabits 300,000 square feet in the office park with a choice to broaden by an extra 100,000 square feet in the future. Other significant renters consist of Pandora Media Inc. and Activision Blizzard.

Most of the 47-acre website at Ocean Park Boulevard and 28th Street in Santa Monica stays on a ground lease held by Transpacific Advancement Co., which constructed the workplace park in the 1980s. That lease, which holds an approximated worth of about $250 million, has 80 years staying on its term, but Boston Characteristic deserves to purchase it out starting in 2028.

When completed, the deal is expected to end up being the highest-priced office sale in the city of Santa Monica, and the highest overall rate paid for a workplace property in Los Angeles County considering that downtown’s City National Plaza sold for $858 million in 2013, inning accordance with CoStar records.

Boston Properties dealt with intense competitors from a handful of institutional and high net-worth financiers for the right to buy the desirable office home.

Other bidders included Douglas Emmett Inc., Worthe Property Group, Alexandria Realty Equities and Hudson Pacific Residence, according to brokers involved with a few of those companies’ bids but not authorized to speak on the record.

Rumors that either Snap or SOHO China, a Beijing-based developer, had actually both made last minute quotes on the property spread out through the Los Angeles brokerage neighborhood over the weekend.

Final blind bids for the property were due last Friday and Boston Properties’ deal was selected Monday night, inning accordance with a source associated with the deal.

The record-setting transaction shines a spotlight on the ongoing strength of the Santa Monica market, which is among the stars of LA’s Westside. The city is the home of a variety of start-ups and successful tech and media companies, ranging from Hulu to Riot Games that have helped make the area the moniker “Silicon Beach.” The area’s workplace market has actually been amongst the greatest in the nation this cycle with both sale and lease costs at historic levels.

Steve Basham, senior market expert at CoStar Group, publisher of CoStar News, stated that, while office rent development in the city has actually slowed given that skyrocketing earlier in the cycle, the Santa Monica Organisation Park offer reflects bullish long-lasting investor views on the city, which is almost totally built-out and development-adverse.

“The location is insulated from downturns,” Basham said. “It’s a varied location with high-credit occupants. This is an unique property since nobody is can be found in to Santa Monica to build another 1.2 -million square foot workplace complex.”

For Boston Properties, which owns about 50.3 million square feet across the country made up of offices, residences, retail residential or commercial properties and a hotel, the Santa Monica Organisation Park will be an essential expansion of its existence in the Los Angeles market.

Business officials has been eyeing a growth in Los Angeles as its 5th core market given that 2016 when it obtained its first foothold in L.A. after getting a 50 percent stake in an existing joint endeavor with Teachers Insurance and Annuity Association at Santa Monica’s 1.1 million-square-foot workplace complex Colorado Center for about $500 million.

Boston Residence’ portfolio includes the 1.2 million-square-foot Times Square Tower office complex in New York, the 3.3 million-square-foot mixed-use Embarcadero Center in San Francisco and the 3.6 million-square-foot mixed-use Prudential Center in Boston.

The agreement list price of $616 million total up to about $513 a square foot. In total value, this is the greatest priced office sale in the city of Santa Monica given that Worthe Realty Group’s sale of 2600-2800 Colorado Ave., a 315,000-square-foot office task, to Oracle Corp. for $368 million, or about $1,166 per square foot, in 2016, according to CoStar records.

In the county of Los Angeles, it will be the most costly deal because CommonWealth Partners Management Solutions LP purchased the 3 million-square-foot City National Plaza complex at 515 S. Flower St. in downtown L.A. from CalSTRS in 2013 for $858 million, or $284 a square foot.

The seller is an unit of private equity giant Blackstone Group, which obtained the workplace residential or commercial property at 2850-3420 Ocean Park Blvd., beside the Santa Monica Airport as part of its $39 billion buyout of Chicago’s Equity Office Residence Trust in 2007.

Blackstone has been shopping the 47-acre home with Eastdil Protected since in 2015 as part of a push to sell the three significant properties obtained through that buyout. The others are a 32-story workplace tower at 100 Summertime St. in downtown Boston and the rights to a ground lease under San Francisco’s Ferryboat Structure.

Boston Properties is anticipated to close on the acquisition throughout the 2nd quarter.

CBRE Snags 48 Transwestern Staffers in Boston

Pictured: John Barry, the last of the 3 RBJ establishing partners to leave Transwestern.Transwestern’s Boston office suffered a huge blow today,
as CBRE revealed it had hired 48 members of the Transwestern RBJ group, including among the company’s founders, John Barry, and Steve Purpura, one of Transwestern RBJ’s handling partners and the leader of the Boston group. The move is the current in a stream of defections from Transwestern RBJ this year, with several other of the firm’s original partners having actually transferred to other stores, consisting of Cushman & Wakefield and JLL. Purpura was among the nine original brokers that formed Richards Barry Joyce and

Partners in 2001. That Boston shop brokerage concentrated on renter and property manager representation, and home management-with a smaller footprint in the local financial investment sales scene. Regardless of its shop status, the store grew quickly, and was obtained by Transwestern in 2013, which relabelled it Transwestern RBJ. Barry is the last of the three RBJ establishing partners to decamp from Transwestern, along with 3 other of the initial 9 RBJ partners now at CBRE. 2 other previous RBJ partners, Michael Joyce and Robert Richards, both signed up with Cushman & Wakefield in the last 6 weeks. They were signed up with there by senior Transwestern RBJ brokers Thomas Ashe and Robert Byrne. Most recently, Jamey Lipscomb, a partner at Transwestern RBJ who had been with the firm for 15 years, left for JLL. The stream of departures drastically lowers Transwestern’s Boston profile -and considerably adds to CBRE’s currently formidable leasing and management platforms.

But it isn’t really the end of Transwestern RBJ. The company still has about 50 staff members in the Center, consisting of about a dozen brokers, according to Transwestern’s Boston spokesperson Dan Foley.

It’s uncertain if the office will drop the RBJ from its name now that the three creators behind the initials have actually left. Transwestern representative Stefanie Lewis issued a declaration from the business relating to the move.”We want Steve Purpura and his team well. They are respected coworkers and will stay buddies of the firm.

Transwestern is a broadening national business. We continue to include manufacturers from coast to coast.

We are confident in our development technique, which takes pleasure in substantial momentum.”CBRE sources do not think the 48 new hires will overlap much with existing personnel, or require layoffs. A number of the Transwestern RBJ brokers concentrate on niche leasing locations-such as life sciences tenants and homes

-that CBRE currently does not have. A CBRE executive described the new additions as”accretive”hires.” These individuals are among the Northeast’s a lot of gifted realty experts, and their enthusiasm for producing remarkable client results is an ideal fit with our market-leading CBRE/New England team,”said Jack Durburg, Group President and CEO

of the Americas, CBRE. No changes to CBRE/ New England’s leadership is expected as an outcome of the brand-new hires, inning accordance with the company. Co-managing partners Andy Hoar and Kevin Doyle will continue to supervise the market.

Workplace Lease Up (September 11) PTC Sets Sail for Boston'' s Seaport District with 250,000-SF HQ Lease

Wrap-Up of Largest Reported Workplace Leases Include Offers by Western Union, United Health care, Zymergen, McCain Foods and more

PTC (NYSE: PTC) is visited Boston’s Seaport District after the leading worldwide tech firm settled a deal with Skanska< a href=" http://www.costar.com/News/Article/PTC-Sets-Sail-for-Bostons-Seaport-District-with-250000-SF-HQ-Lease/194008" target =” _ blank “> to occupy 250,000 square feet at 121 Seaport Blvd. for its

home office. The computer system software and services company will move more than 1,000 employees from its Needham, MA offices to the leading half of 121 Seaport, a 421,320-square-foot, 17-story, elliptical-shaped tower that began in mid-2015 and has been lauded for its special style and sustainability functions.

The very first renter to sign on at the project, PTC accepted an 18-year lease that is scheduled to begin January 1, 2019 and run through June 30, 2037. Representatives with Cresa negotiated the lease on behalf of PTC, while Newmark Knight Frank handled negotiations for Skanska. By Sean Matthews

Western Union Leases 246,500 SF at Belleview Station for New Corporate HQ

Western Union (NYSE: MU) has finished a handle Prime West Cos. to relocate its corporate headquarters to 246,500 square feet at One Belleview Station in Denver. The American monetary services and interactions business will move next November from Meridian, CO to the leading eight floors and the sixth floor of the 15-story, 318,000-square-foot One Belleview building, which provided this past April at 7001 E. Belleview Ave. in the Denver Tech Center. Ryan Stout and Nate Bradley of Cushman & Wakefield represented Prime West Cos. in negotiations. By Raul Lozoya United Health care Leases 93,000 SF in The Corridors

Among the biggest handled healthcare companies in the United States has reached an offer to lease 92,727 square feet within The Passages workplace park in Downers Grove, IL. Minnetonka, MN-based United HealthCare( NYSE: UNH) will occupy theuninhabited 3rd, fourth and 5th floorings of Corridors Two, a 149,896-square-foot, five-story office building completed in 1999 at 2655 Warrenville Rd. in west Chicago’s Eastern East/West Passage. The company is set up to take tenancy of its new space in February 2018.

Fred Ishler and Joe Stevens of Transwestern represented SoundView in settlements, while Robert Sevim of Savills Studley represented the occupant in this transaction. By Rita Iseghohi

Biotech Start-up Zymergen Expanding Within Emery Bay Offices, Leases 83,000-SF Bay Center B.

Zymergen, a genes biotech business, is broadening its footprint within the Emery Bay Workplaces park in Emeryville, CA after inking a deal to completely inhabit the 83,620-square-foot office complex at 6455 Christie Ave.

The Bay Area start-up, which late in 2015 protected $130 million in Series B financing from Softbank, will completely occupy Building B presently the home of Novartis Vaccines & & Diagnostics. Inning accordance with CoStar information, Zymergen is expected to take occupancy of its brand-new space in early 2019.

Newmark Cornish & & Carey handled settlements on behalf of Zymergen. Aileen Dolby and Ken Meyersieck of Colliers International represented the landlords, a joint venture comprised of Harvest Residences and Principle Real Estate Investors. By John Walz

McCain Foods Signs 67,422-SF Lease at Oakbrook Terrace Tower.

McCain Foods, a frozen food maker,
signed a 15-year lease for 67,422 square feet in the Oakbrook Terrace Tower at 1 Tower Ln. in Oakbrook, IL.

The 31-story office complex totals 792,192 square feet in Chicago’s Eastern East/West Corridor submarket. Established by The Beitler Co. in 1987, the property is currently owned by The Blackstone Group, which got the Class A structure in 2015 as part of a $3.3 billion portfolio acquisition.

John Ziesmer of Avison Young represented McCain Foods in lease settlements, while John Clark, Rob Lundin and John Norris of Newmark Knight Frank represented ownership. By Christopher Pressley

Torre Lazur McCann Leases 65,000 SF in Parsippany.

Torre Lazur McCann, a healthcare communications firm,
< a href =" http://www.costar.com/News/Article/Torre-Lazur-McCann-Leases-65000-SF-in-Parsippany/193728" target=" _ blank" > rented 65,000 square feet of workplace at 3 Sylvan Method Parsippany, NJ.

The three-story building overalls 158,011 square feet in the Mack-Cali Service Campus. Integrated in 1988, the residential or commercial property was offered to the Mack-Cali Real estate Corporation in 2015, which finished remodelling on the building earlier this year.

David Stifelman and Chris Conklin of JLL represented the proprietor. By Antonio Ferguson

Bank of America Expands Footprint at Century Plaza in San Jose.

Bank of America (NYSE: BAC) has settled a deal with Grosvenor Americas to combine and expand its operations into more than 60,000 square feet within Century Plaza in San Jose, CA. The Charlotte-based international banking and monetary services organization has run its local head office from Century Plaza II for the last 14 years. The corporation, which over the last 2 years has revealed plans for comparable debt consolidations, will broaden from the first floor into the 3rd, 5th and 6th floorings on an offer that is arranged to start in November. Chris Gow and Anthony Guglielmi of JLL represented Bank of America in settlements, while Erik Hallgrimson and Steve Horton of Cushman & Wakefield

brokered the lease for Grosvenor. By John Walz Delta Dental Filling 43,000 SF at 560 Mission for New HQ. A little more than a month after consenting to & a different 82,000-square-foot lease in downtown Oakland, Delta Dental has signed a seven-year lease for 43,400 square feet at the J.P. Morgan Chase tower in San Francisco’s South Financial District where the oral benefits insurance company will move its corporate headquarters. For the last Thirty Years Delta Dental has actually been locateded across the street at 100 First St. That will change in mid-2018 when the business moves its head workplaces to the 12th and 13th floors of the 684,321-square-foot, 31-story tower at 560 Objective St. Mark McGranahan of Cushman & Wakefield represented the tenant; while Thomas Poggi and Angus Scott of CBRE represented ownership. By Eric Kies CBS Radio Broadcasts 28,000-SF Renewal at Colony Square. CBS Radio aired some news of its own after consenting to a long-lasting lease renewal for its 28,000-square-foot space at 400 Colony Square
in Midtown Atlanta. The lease precedes a comprehensive renovation effort slated to start this fall at Colony Square, a mixed-use advancement situated at the corner of Peachtree and 14th Streets that consists of 720,000 square feet of office space, residential apartments, the 467-room W Atlanta Midtown and the 163,000-square-foot The Square at Nest retail center. Andy Sumlin, Sonia Winfield and Laura Power of Cushman & Wakefield brokered the lease on behalf of ownership, a joint venture comprised of North American Residences and Lionstone Investments. Sam Hollis and Ken Ashley, likewise of Cushman & Wakefield, represented CBS Radio.

By Natalie Silady Sterling Bay Indications Very first Occupant at Fulton Market District Project. Chicago-based realty investment and advancement business Sterling Bay has secured its first occupant at the business’s 210 N. Carpenter task in Chicago’s Fulton Market District. Leopardo Cos., among the biggest construction companies in the United States, will relocate its Chicago workplace from 333 W. Wacker Dr. to 24,000 square feet at the 12-story, 200,000-square-foot office building Sterling Bay is establishing just west of I-90/ I-94 and the CTA-Morgan station. Not just is Leopardo the very first tenant to sign on at the project, the company has likewise been contracted to build 210 N. Carpenter with the ground-breaking having occurred earlier this month. Leopardo anticipates to relocate to its expanded area following the building’s conclusion in fall 2018. Renae Bradshaw, Eric Feinberg and Robert Sevim of Savills Studley represented Leopardo in settlements. By Abisola Osho Consuming Recovery Center Signs 11-Year Lease at One East Erie. Eating Recovery Center, a health company known for focusing on supplying extensive eating condition treatments for people, leased 22,891 square feet in the One East Erie tower at 1 E. Erie St. in Chicago. The 51-story high-rise totals 1,259,220 square feet near Chicago & State Park, Water Tower Park and Connors Park in Chicago’s North Michigan Opportunity submarket. Jordan Decker and Liz Osborne of Cushman & Wakefield represented Consuming Healing Center. Barbara Schenberg, Teddy Walsh and Jack McKinney, likewise of Cushman & Wakefield, represented owners DRA Advisors and M&J Wilkow. By Antonio Wood Cooperative credit union National Association Inks Deal

in Navy Backyard. The Cooperative credit union National Association, the largest trade association in the United States that serves the United States’ credit unions, signed a lease to inhabit the entire third flooring at Skanska’s 99 M St. SE building set up to provide this March. Occupying 22,143 square feet, the company will join PYXERA Global and CIRCA as occupants in the new 234,000-square-foot, 11-story
building SCD Acquisitions is developing one block north of Nationals Park and one block west of the Navy Lawn City Station. Lincoln Home Co.’s John Marvin Jones, Elaine Clancy, Adam Biberaj and Doug McLearn represented Skanska in this deal. By Michael Harvey WGL Energy Takes Ninth Flooring in Westwood City Tower. WGL Energy, a varied energy company offering gas and electrical services, leased an extra 19,464 square feet in the Class An office complex at 8614 Westwood Center Dr. in Vienna, VA. The company will expand from its top floor space on to the

ninth floor starting January 1, 2018. Spencer Stouffer and Caroline Collins of Cushman & Wakefield represented the proprietors, MRP Real estate and Rockpoint Group, in negotiations. By Julianne Kapelka Firley, Moran, Freer & Eassa CPA, PC Takes 18,000 SF at Barclay Damon Tower in Downtown Syracuse. Firley, Moran, Freer & Eassa Certified Public Accountant, PC has signed a lease to relocate its area workplaces to 18,767 square feet within Barclay Damon Tower in downtown Syracuse.

A leading licensed public accounting firm in Upstate & New York, Firley, Moran, Freer & Eassa CPA, PC will shift its offices from 5010 Campuswood Dr. in East Syracuse’s Leader Park to the entire 7th and a part of the ninth floor of Barclay Damon Tower, a 14-story &, 130,000-square-foot high-rise finished in 1972 at 125 E. Jefferson St. Mike Durkin of CBD Brokerage represented both the property manager and renter. By Phil Dawit NPD Group Leases 18,000 SF at 31 Penn Plaza. NPD Group, Inc., a global market research firm, leased 17,712 square feet at 132 W. 31st St. & in New york city City. Adam McCostlin, Chris Wood, David Mainthow, Jonathan Schindler and Aron Schreier of Cushman & Wakefield represented NPD in lease negotiations. Matt Astrachan, Mitch Konsker and Adam Haber of JLL represented the proprietor, Vanbarton Group. By Alex Ern Knotel Leases 18,000 SF in Times Square. Knotel, Inc., a shared workplace service provider,< a href =" http://www.costar.com/News/Article/Knotel-Leases-18000-SF-in-Times-Square/193962 ” target =” _ blank” > signed a lease for 17,560 square feet at the

9 Times Square office building situated at 200 W. 41st St. in New York City. David Falk, Eric & Cagner, Jason Greenstein and Matthew Siegel of Newmark Knight Frank represented the property owner. Gabriel Marans of Savills Studley represented the tenant. By Andrea Quach

Thousands march through Boston week after Virginia bloodshed

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Michael Dwyer/ Associated Press A counterprotester, left, confronts a professed advocate of President Donald Trump at a “Free Speech” rally by conservative activists on Boston Common, Saturday, Aug. 19, 2017, in Boston. Thousands of leftist counterprotesters marched through downtown Boston on Saturday, chanting anti-Nazi mottos and waving indications condemning white nationalism ahead of a rally being staged by conservative activists a week after a Virginia presentation turned deadly.

Saturday, Aug. 19, 2017|10 a.m.

BOSTON– Thousands of leftist counterprotesters marched through downtown Boston on Saturday, chanting anti-Nazi mottos and waving indications condemning white nationalism as conservative activists rallied a week after a Virginia demonstration turned fatal.

Authorities Commissioner William Evans stated Friday that 500 officers– some in uniform, others undercover– were deployed to keep the two groups apart Saturday. Boston’s Democratic mayor, Marty Walsh, and Massachusetts’ Republican guv, Charlie Baker, both cautioned that extremist discontent wouldn’t be tolerated in this city famed as the cradle of American liberty.

Organizers of the midday occasion, billed as a “Free Speech Rally,” have publicly distanced themselves from the neo-Nazis, white supremacists and others who fomented violence in Charlottesville on Aug. 12. A lady was killed at that Join the Right rally, and scores of others were injured, when a car raked into counterdemonstrators.

However opponents feared that white nationalists may show up in Boston anyway, raising the specter of awful confrontations in the very first possibly large and racially charged gathering in a major U.S. city because Charlottesville.

Occasions are planned around the country, in cities including Atlanta, Dallas and New Orleans.

Walsh welcomed counterprotesters Saturday morning outside Reggie Lewis Center in the city’s Roxbury community. Counterprotesters from Black Lives Matter and other groups knocking bigotry and anti-Semitism marching from there to the Common, and another group plans to rally on the steps of the Statehouse neglecting the sprawling park.

Some counterprotesters dressed entirely in black and used bandannas over their faces. They chanted anti-Nazi and anti-fascism mottos, and waved indications that stated: “Love your neighbor,” “Withstand fascism” and “Hate never ever made U.S. great.” Others carried a big banner that checked out: “SMASH WHITE SUPREMACY.”

Boston police approximated the size of the crowd participating in the march to the Typical at about 15,000. In stark contrast, just several lots individuals have turned out for the conservative rally itself.

TELEVISION electronic cameras revealed a group of boisterous counterprotesters on the Typical chasing a guy with a Trump campaign banner and cap, shouting and swearing at him. However other counterprotesters stepped in and assisted the guy safely over a fence into the location where the conservative rally was to be staged. Black-clad counterprotesters likewise grabbed an American flag from an elderly woman’s hands, and she stumbled and was up to the ground.

The authorization provided for the rally on Boston Common included severe restrictions, consisting of a restriction on backpacks, sticks and anything that might be used as a weapon. The authorization is for 100 individuals, though an organizer has actually stated he anticipated approximately 1,000 people to participate in.

The Boston Free Speech Coalition, which arranged the occasion, said it has absolutely nothing to do with white nationalism or bigotry and its group is not connected with the Charlottesville rally organizers in any way.

“We are strictly about complimentary speech,” the group said on its Facebook page. “… we will not be offering our platform to racism or bigotry. We denounce the politics of supremacy and violence.”

But the mayor explained that a few of those invited to speak “gush hate.” Kyle Chapman, who described himself on Facebook as a “proud American nationalist,” stated he will attend.

Black Lives Matter said Friday that members from around the United States planned to march Saturday in Boston.

Walsh stated the city would do whatever is required to avoid violence started by either side. “If anybody leaves control– at all– it will be shut down,” he stated.

“We will not endure any misbehavior, violence or vandalism whatsoever,” said Evans, Boston’s top police.

Dating to 1634, Boston Common is the nation’s oldest city park. The leafy downtown park is popular with locals and travelers and has been the scene of many rallies and demonstrations for centuries.