{"id":1004286047,"date":"2018-12-14T05:23:50","date_gmt":"2018-12-14T13:23:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004286047"},"modified":"2022-12-09T02:34:03","modified_gmt":"2022-12-09T10:34:03","slug":"boston-trophy-tower-commands-455m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boston-trophy-tower-commands-455m\/","title":{"rendered":"Boston Trophy Tower Commands $455M"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004286050\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004286050\" data-attachment-id=\"1004286050\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/boston-trophy-tower-commands-455m\/121-seaport-ptc-cresa-boston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Cresa Boston&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Cresa Boston is pleased to announce that it has negotiated an 18.5-year lease of 250,000 SF at 121 Seaport Boulevard in Boston\\u0092s Seaport District on behalf of Needham-based PTC, a global provider of technology that transforms how companies design, manufacture, operate and service the \\u0093things\\u0094 in the Internet of Things (IoT). (PRNewsfoto\/Cresa Boston)&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;121-Seaport-PTC-Cresa-Boston&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"121 Seaport\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;121 Seaport&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg?w=800\" class=\"wp-image-1004286050 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/121-Seaport-1.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004286050\" class=\"wp-caption-text\">121 Seaport<\/p><\/div>\n<p>Skanska has sold 121 Seaport, its newly opened trophy office asset in Boston. The buyer, a joint venture between American Realty Advisors and Norges Bank Real Estate Management, paid $455 million for the&nbsp;fully leased, 400,000-square-foot office portion of the asset, according to Suffolk County records.<\/p>\n<p>The sale, one of <a href=\"https:\/\/www.commercialsearch.com\/news\/allianz-jv-buys-boston-office-tower-for-845m\/\">Boston\u2019s largest transactions this year<\/a>, did not include the asset&#8217;s retail component. The tower\u2019s approximately 50,000 square feet of retail on the first two floors sold to WS Development in March for $23 million.<\/p>\n<p>Located at 121 Seaport Blvd. in Boston\u2019s Seaport Innovation District submarket, the tower rises between Boston Harbor and the Massachusetts Turnpike. The asset is within half a mile of more than 10 million square feet of Class A office space.<\/p>\n<p>The development kicked off in July 2015, according to Yardi Matrix. The property opened its doors in June, fully leased to two companies\u2014Alexion Pharmaceuticals and PTC. Alexion moved into its 150,000-square-foot space from its former headquarters in New Haven, Conn., over the summer, with PTC planning to occupy its 250,000 square feet at the start of 2019.<\/p>\n<h2>Green, cost-efficient features<\/h2>\n<p>CBT Architects <a href=\"https:\/\/www.commercialsearch.com\/news\/behind-the-elliptical-design-of-bostons-121-seaport-tower\/\">designed the 17-story high-rise<\/a> to achieve LEED Platinum standards. Amenities include a private fitness center, a number of outdoor terraces, secured bicycle parking and subterranean parking. The building\u2019s chilled beam system, in conjunction with its elliptical shape, minimize heat gain and increase natural lighting within the structure.<\/p>\n<p><em>\u201cThis investment is well-aligned with our core strategy to target modern, sustainable office properties that are highly sought after by tenants and positioned to perform over time,\u201d<\/em> said David Willett, senior director at ARA, in a prepared statement. <em>\u201cIts flexible layout with a column-free design and highly sustainable attributes contribute to an 85 percent efficiency factor that enables companies to maximize their workspace and expand their employee base.\u201d<\/em><\/p>\n<p><em>Image courtesy of Cresa Boston<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Skanska\u2019s 450,000-square-foot, LEED Platinum-certified asset opened in June. The office portion is fully leased to Alexion Pharmaceuticals and PTC.<\/p>\n","protected":false},"author":861,"featured_media":1004286050,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21808,21783,21742,10,21747],"tags":[34593,33222,32779,36561,32886,40155],"class_list":["post-1004286047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-featured","category-investment","category-latest","category-northeast","category-office","tag-121-seaport","tag-american-realty-advisors","tag-leed","tag-norges-bank-real-estate-management","tag-skanska","tag-ws-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boston Trophy Tower Commands $455M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boston-trophy-tower-commands-455m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Trophy Tower Commands $455M\" \/>\n<meta property=\"og:description\" content=\"Skanska\u2019s 450,000-square-foot, LEED Platinum-certified asset opened in June. 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