By Corina Stef
Invesco Real Estate has closed negotiations on six office leases totaling more than 70,000 square feet at one of its Class A assets located in downtown Boston. CBRE/New England Executive Vice President Tim Lyne and Senior Vice President Tim Howe acted on behalf of the owner in all the transactions.
The asset is located at 179 Lincoln St., along the southern edge of downtown in the city’s Chinatown – Leather District and it will house:
- Power Advocate, an energy intelligence company, which renewed its 22,710-square-foot lease. The company has been occupying space in the building since its formation in 2008. The firm was represented by JLL Managing Director Ben Heller and Executive Vice President Patrick Nugent.
- Smartsheet, a Washington-based software company, which will occupy 19,238 square feet of office space. Avison Young Principal Larry Epstein and Broderick Group Principal Jim Kinerk acted on behalf of the tenant.
- XPO Logistics signed a 13,470-square-foot lease. The logistics and transportation provider relocated from West Cambridge, Mass., and it was represented by Cresa’s John Coakley and Paul Delaney.
- OUTFRONT Media relocated from Norwell, Mass., inking a lease for 7,184 square feet of space. CBRE/NE Executive Vice President John Butterworth and Nick Amarante brokered the transaction on behalf of the tenant.
- Mechanical contractor E.M. Duggan signed a 5,550-square-foot lease expansion.
- AMCS Group, a software and vehicle technology supplier, will occupy 2,687 square feet of space and it was represented by JLL’s Tom O’Regan.
“The building’s location, full complement of amenities and highly efficient floor plates make it an outstanding opportunity for today’s tenants,” Invesco Real Estate Asset Management Director John Kiernan said in a prepared statement.
From warehouse to office
According to Yardi Matrix, the 220,311-square-foot office building was a former warehouse constructed in 1899, and was converted to office in 1976. It was also recently renovated, featuring refurbished interiors, a new entrance and lobby, improved building systems, fitness center and underground parking. The asset was awarded ENERGY STAR certification in 2016, the Preservation Achievement Award for the Best Adaptive Use of Historic Industrial Space by the Boston Preservation Alliance and a BOMA Boston TOBY award in 2014. Additionally, 179 Lincoln St., received a LEED Core & Shell Silver certification, being one of the first LEED-certified historic renovations in Boston.
The property is surrounded by parks, restaurants, cafes, retailers and banks, offering easy access to the Boston Logan International Airport. South Station transit stop is located within walking distance, providing tenants with easy access throughout the entire area.
Image courtesy of CBRE