{"id":1004698740,"date":"2024-01-23T06:23:48","date_gmt":"2024-01-23T14:23:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004698740"},"modified":"2024-01-23T06:28:17","modified_gmt":"2024-01-23T14:28:17","slug":"mt-bank-signs-lease-for-new-boston-hq","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mt-bank-signs-lease-for-new-boston-hq\/","title":{"rendered":"M&#038;T Bank Signs Lease for New Boston HQ"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a10813f2d0cf&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img decoding=\"async\" data-attachment-id=\"1004698986\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mt-bank-signs-lease-for-new-boston-hq\/winthrop-center-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Winthrop-center-1-e1705997261688.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&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;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Winthrop center\" data-image-description=\"&lt;p&gt;Winthrop Center is a 1.8 million-square-foot mixed-use development in Boston.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Winthrop Center features 812,000 square feet of office space. Image courtesy of Millenium Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Winthrop-center-1-e1705997261688.jpg?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Winthrop-center-1.jpg\" alt=\"Winthrop Center is a 1.8 million-square-foot mixed-use development in Boston.\" class=\"wp-image-1004698986\" style=\"aspect-ratio:4\/3;object-fit:cover;width:400px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Winthrop Center features 812,000 square feet of office space.<em> Image courtesy of Millenium Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Millenium Partners <\/strong>has inked a 39,000-square-foot leasing agreement at Winthrop Center, a 1.8 million-square-foot mixed-use development in Boston. The tenant, <strong>M&amp;T Bank<\/strong>, is expected to move in this fall.<\/p>\n\n\n\n<p><strong>Cushman &amp; Wakefield<\/strong> Executive Managing Directors George O&#8217;Connor and Thomas Ashe represented the tenant, while <strong>CBRE<\/strong> Executive Vice President Timothy Lane and Vice President Charlie Jennings worked on behalf of the landlord.<\/p>\n\n\n\n<p>The $1.4 billion development broke ground in 2018 and came online last year. <strong>Cale Street Partners<\/strong> provided a $775 million construction loan in 2020 for the project, according to CommercialEdge data. Partners on the project included general contractor <strong>Suffolk<\/strong> and design firm <strong>Handel Architects LLP<\/strong>. The LEED Platinum- and Well Gold-certified building is also the largest Passive House office project in the world.<\/p>\n\n\n\n<p>Other tenants at the Class A building comprise Deloitte, which signed <a href=\"https:\/\/www.commercialsearch.com\/news\/deloitte-signs-138-ksf-office-lease-in-downtown-boston\/\">a 138,000-square-foot lease<\/a> in July last year, McKinsey &amp; Co., Cambridge Associates and Income Research and Management.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The mixed-use development, up close<\/h2>\n\n\n\n<p>The property includes 812,000 square feet of office space, some 21,000 square feet of retail, 400 residential units and a multi-floor public gathering space. Additionally, there is a 25,000-square-foot amenity area dubbed The Collective, which includes coworking spaces, a 5,000-square-foot fitness center with sports simulator and recovery room, a coffee bar and a game room, as well as a quiet zone and underground parking.<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n<\/div><\/div>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-boston\/\">Top Projects That Will Reshape Boston<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Located at 115 Federal St. within the Central Business District, the 691-foot tower is close to a host of dining and retail options, including The Corner Mall and Faneuil Hall Marketplace. General Edward Lawrence Logan International Airport is 3 miles away. The high-rise is also some 5 miles from Tishman Speyer and Harvard University\u2019s Enterprise Research Campus, a <a href=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-harvard-break-ground-on-boston-project\/\">mixed-use life science project<\/a> that is expected to come online in 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-boston-s-steady-office-sector\">Boston\u2019s steady office sector<\/h2>\n\n\n\n<p>According to the latest <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge office report<\/a>, the Boston market had a 11.8 percent vacancy rate as of December last year, lower than the national average, but 280 basis points higher than at the same point in 2022. The metro boasted the fourth highest average listing rate in the country, at $47.27, after Manhattan, San Francisco and the Bay Area. <\/p>\n\n\n\n<p>Significant deals from last year include Novo Nordisk\u2019s 165,940-square-foot,<a href=\"https:\/\/www.commercialsearch.com\/news\/alexandria-inks-full-building-lease-at-boston-area-campus\/\"> long-term lease<\/a> at Alexandria Real Estate Equities\u2019 life science facility. Other leasing agreements include Astellas Pharma Inc.\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/divcowest-secures-62-ksf-life-science-lease-in-cambridge\/\">62,000-square-foot commitment<\/a> within DivcoWest\u2019s six-building Cambridge Crossing development. The mixed-use project will total some 4.5 million square feet upon full buildout.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1.8 million-square-foot mixed-use tower came online last year.<\/p>\n","protected":false},"author":3355,"featured_media":1004698986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21742,10,21747],"tags":[32789,32799,37035,45626,43103,36485],"class_list":["post-1004698740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-cbre","tag-cushman-wakefield","tag-handel-architects","tag-massachusetts-institute-of-technology","tag-millennium-partners","tag-suffolk-construction"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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