Global investment management firm Loomis, Sayles & Co. has inked a 232,000-square-foot lease extension and restructuring at One Financial Center, a 1.2 million-square-foot office tower in downtown Boston. The high-rise is owned by a joint venture between MetLife Investment Management and Norges Bank Investment Management.
The tenant has called the property its home for the past 35 years. However, the company has downsized its footprint by one-third and will vacate three floors in the building, according to the Boston Globe. The new agreement, deemed the largest office lease transaction in the Boston market since mid-2019, has an expiration date in 2037.
Located at 1 Financial Center, the LEED Gold-certified building rises 46 stories. Completed in 1984, the skyscraper was renovated in 2011, according to CommercialEdge data. The property has 8,000 square feet of retail space, a conference center and an on-site café. The tenant roster also includes Toshiba Business Solutions, Westfield Capital Management and Mintz Levin.
The Avison Young team that negotiated the deal on behalf of the tenant included Principals Ron Perry and Larry Epstein, along with Vice President Matt Perry. Newmark Executive Managing Director Bill Anderson and Dave Martel and Managing Director Allison Cavanaugh assisted the joint venture ownership.
Last week, Amazon signed a full-building lease totaling 630,000 square feet in Boston’s 33-acre Seaport development. The company’s new space will accommodate more than 3,000 corporate and technology employees.