{"id":1004722198,"date":"2024-07-19T06:46:13","date_gmt":"2024-07-19T14:46:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722198"},"modified":"2024-07-22T05:58:50","modified_gmt":"2024-07-22T13:58:50","slug":"tishman-speyer-signs-106-ksf-tenant-in-boston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-signs-106-ksf-tenant-in-boston\/","title":{"rendered":"Tishman Speyer Signs 106 KSF Tenant in Boston"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" data-attachment-id=\"1004722205\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-signs-106-ksf-tenant-in-boston\/one-federal-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/One-Federal-St-e1721392135563.jpg\" data-orig-size=\"1223,917\" 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;1377083244&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=\"One-Federal-St\" data-image-description=\"&lt;p&gt;The office building at 1 Federal St. in Boston.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;One Federal Street came online in 1976 and was completely renovated in 2011. Image courtesy of Tishman Speyer&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/One-Federal-St-e1721392135563.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/One-Federal-St.jpg\" alt=\"The office building at 1 Federal St. in Boston.\" class=\"wp-image-1004722205\" style=\"width:317px;height:auto\"\/><figcaption class=\"wp-element-caption\">One Federal Street came online in 1976 and was completely renovated in 2011. <em>Image courtesy of Tishman Speyer<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tishman Speyer has signed a 106,000-square-foot leasing agreement with the Commonwealth of Massachusetts through the Division of Capital Asset Management and Maintenance. The landlord had in-house representation.<\/p>\n\n\n\n<p>For at least 10 years, six government agencies will occupy two full floors at One Federal Street, a more than 1.1 million-square-foot Boston tower. Move-ins are expected by early 2025.<\/p>\n\n\n\n<p>The building&#8217;s new tenants will be the Central Administrative Executive Offices for the Office of Consumer Affairs and Business Regulation; Division of Banks; Department of Telecommunications and Cable; Division of Standards; Division of Licensing; and Division of Insurance. The agencies will relocate their offices from 1000 Washington St. and 501 Boylston St. <\/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><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/bostons-office-pipeline-leads-nationally\/\">Boston\u2019s Office Pipeline Leads Nationally<\/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>Tishman Speyer acquired the 38-story asset in June 2006 for $514 million from Jamestown using funds from a $262 million loan, according to CommercialEdge information. In 2017, the property became subject to a $380 million note originated by TIAA.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-class-a-building-in-boston-s-cbd\">A Class A building in Boston\u2019s CBD<\/h2>\n\n\n\n<p>The Class A high-rise came online in 1976 and was completely renovated in 2011. The building has 15,000 square feet of first-floor retail and floorplates between 25,000 and 45,000 square feet.<\/p>\n\n\n\n<p>Amenities at the LEED Gold-certified property include a fitness center, 10 passenger elevators and 90FS, a venue for private events that features an open-air terrace and rooftop garden, as well as access to ZO, Tishman\u2019s global amenities network.<\/p>\n\n\n\n<p>Greystar, Siemens, J.P. Morgan and Long Wharf Capital are some of the building&#8217;s tenants, CommercialEdge also shows. The building is located at 1 Federal St. in Boston\u2019s central business district.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-boston-s-thriving-office-sector\">Boston\u2019s thriving office sector<\/h2>\n\n\n\n<p>Benefitting from a strong life science subsector, Boston is one of the best-performing U.S. office markets. The metro posted the lowest vacancy rate among peer markets as of June, clocking in at 12.8 percent, a recent CommercialEdge <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">office report<\/a> shows. Additionally, the asking rates averaged $47.60 during the same month, well above the $31.67 national rent.<\/p>\n\n\n\n<p>In May, a subsidiary of <a href=\"https:\/\/www.commercialsearch.com\/news\/sumitomo-subsidiary-inks-142-ksf-boston-lease\/\">Sumitomo Heavy Industries signed a long-term lease<\/a> for 142,224 square feet in Bedford, Mass. The company will relocate its headquarters to 35 Crosby Drive, one of W. P. Carey\u2019s assets.<\/p>\n\n\n\n<p>Earlier this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/alexandria-lands-223-ksf-life-science-lease-extension\/\">Takeda Pharmaceutical Co. extended its leasing agreement<\/a> for another 10 years at Alexandria Real Estate Equities Inc.\u2019s 75\/125 Binney St. The firm occupies 222,825 square feet at the life science property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Six government agencies will relocate offices to this Financial District tower.<\/p>\n","protected":false},"author":3355,"featured_media":1004722205,"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":[32779,33224],"class_list":["post-1004722198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-leed","tag-tishman-speyer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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