Tishman Speyer Takes On 490 KSF Boston Lab, Office Space

The owner of a two-building, 490,000-square-foot office and lab campus in Boston’s South End has selected Tishman Speyer to provide third-party management and leasing services at the properties.

BioMed Realty owns the two assets at 1000 Washington St. and 321 Harrison Ave., Yardi Matrix shows.

It is Tishman Speyer’s first third-party assignment in Boston, expanding its growing Client Solutions platform. The global real estate firm will provide a suite of client solutions services including property management and leasing, combining analytics with the team’s operational expertise and longstanding relationships in the Boston market.

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BioMed Realty, a Blackstone Real Estate Partners portfolio company, acquired 1000 Washington St. and 321 Harrison Ave. in April 2021 for an estimated $314.2 million from CIM Group and partner Nordblom Co., according to Yardi Matrix. After acquiring the properties in 2017, CIM Group and Nordblom repositioned the assets.

1000 Washington St., an 11-story, 242,000-square-foot office building, was renovated into Class A office space. 321 Harrison Ave., an adjacent three-story parking garage, was redeveloped by adding eight floors of office space to create a new 11-story building. BioMed later added lab space to the 247,000-square-foot building. Both properties also have first-floor retail space.

The buildings are connected by a central lobby and footbridge. Amenities at the properties include a fitness center, outdoor patio, amenity lounge, conference center and kitchenette. There is on-site parking with more than 500 spaces and bike storage for tenants as well.

The South End neighborhood has walkable amenities including residential buildings, restaurants and cultural venues. The transit-oriented properties are located near two MBTA stations, including one right outside 1000 Washington St. Other transit hubs, including an Amtrak station, are roughly a mile away. The assets have access to the Mass Pike, also known as Interstate 90, and Logan International Airport is less than 6 miles away, or about 10 minutes by car.

Tishman Speyer portfolio expansion

Tishman Speyer’s Client Solutions portfolio includes prominent properties in major U.S. cities, as well as JPMorgan and GIC’s Opernturm in Frankfurt. The firm provides third-party management services to several assets in Manhattan, such as Hippodrome, 1407 Broadway, Cityspire and the Hearst Tower.

Other properties in the third-party management portfolio include Credit Suisse’s 1120 G St. in Washington, D.C., Crown Family Holdings’ 222 N. LaSalle St. and Deutsche Bank’s 300 South Wacker Dr. in Chicago, and 407 N. Maple Drive in Beverly Hills, Calif., a four-story 175,000-square-foot office building that Tishman Speyer sold to Fashion Nova in August 2024 for $119.7 million.

In May, Tishman Speyer signed law firm Vedder to a 12-year lease extension for its global headquarters at 222 N. LaSalle St. The law firm, which has been at the 26-story building since 1988, will continue to occupy 163,000 square feet across five floors through at least 2041.