{"id":1004777944,"date":"2025-11-13T03:27:08","date_gmt":"2025-11-13T11:27:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004777944"},"modified":"2025-11-13T05:08:34","modified_gmt":"2025-11-13T13:08:34","slug":"state-street-takes-162-ksf-near-boston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/state-street-takes-162-ksf-near-boston\/","title":{"rendered":"State Street Takes 162 KSF Near Boston"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"669\" height=\"502\" data-attachment-id=\"1004777961\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/700-district-ave-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg\" data-orig-size=\"669,502\" 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=\"700 District Ave.\" data-image-description=\"&lt;p&gt;Image included in the press release: https:\/\/www.citybiz.co\/article\/771393\/national-development-announces-state-street-lease-renewal-and-expansion-at-the-district\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The office building at 700 District Ave. is one of several within The District Burlington. Image courtesy of National Development&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg?w=669\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg\" alt=\"Exterior shot of the office building at 700 District Ave. in Burlington, Mass.\" class=\"wp-image-1004777961\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg 669w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 669px) 100vw, 669px\" \/><\/a><figcaption class=\"wp-element-caption\">The office building at 700 District Ave. is one of several within The District Burlington. <em>Image courtesy of National Development<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>In one of Massachusetts&#8217; largest office leases of the year, State Street has inked a new commitment at 700 District Ave. in Burlington. The deal involves the renewal of 147,000 square feet, along with a 15,000-square-foot expansion, for a total of 162,000 square feet, also extending the lease through mid-2037.<\/p>\n\n\n\n<p>State Street will thus occupy most of the 12-story office building which totals 199,860 square feet, according to Yardi Matrix information. With offices in Boston, Burlington and Quincy, Mass., the firm pursues a hybrid strategy that has workers come in four days a week, reflecting broader trends shaping <a href=\"https:\/\/www.commercialsearch.com\/news\/evolving-workspaces-tips-for-modern-organizations\/\">the future of the office<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-visits-surge-in-september-placer-ai\/\">Office Visits Surge in September<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The building is part of\u00a0the 1.3 million-square-foot District Burlington. The landlord, National Development, acquired the 1972-vintage property in 2013 for $216 million, the same data provider shows. Last year, the mixed-use campus became subject to a $183.2 million loan issued by AIG, due to mature in 2027.<\/p>\n\n\n\n<p>Common-area amenities include complimentary parking and EV charging stations, a rooftop deck, a 1-mile walking loop, a fitness center and fresh produce through Green City Growers. Also, The District includes an on-site 170-key Marriott Residence Inn. Cushman &amp; Wakefield is the property\u2019s leasing manager. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-boston-office-market-s-mixed-signals\">Boston office market&#8217;s mixed signals<\/h2>\n\n\n\n<p>The 700 District Ave. lease comes at a time of mixed signals for the <a href=\"https:\/\/www.commercialsearch.com\/news\/bostons-office-pipeline-maintains-national-lead\/\">Greater Boston office market<\/a>. So far during the first three quarters of 2025, the market has experienced negative adsorption of 2.7 million square feet, resulting in an 18.4 percent vacancy rate, according to Cushman &amp; Wakefield data.<\/p>\n\n\n\n<p>On the other hand, the market\u2019s overall average asking rent reached $48.60 per square foot in the third quarter, up 3.8 percent over the quarter, with 11 of 19 submarkets&nbsp;posting quarterly rent growth, Cushman &amp; Wakefield reported. Class A space is commanding especially high premiums.<\/p>\n\n\n\n<p>New <a href=\"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-how-deals-are-getting-done-in-boston\/\">leasing activity in Boston<\/a> has amounted to some 5.7 million square feet during the first nine months of the year, a total that has already surpassed 2024\u2019s entire total by more than 90,000 square feet, Cushman &amp; Wakefield noted. Eight transactions of 50,000 square feet or larger closed in the metro during the third quarter, all of which involving Class A assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is one of the largest office leases in the state this year.<\/p>\n","protected":false},"author":1023,"featured_media":1004777961,"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":[49843,32799,35869,34687],"class_list":["post-1004777944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-aig","tag-cushman-wakefield","tag-national-development","tag-state-street-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>State Street Takes 162 KSF Near Boston - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"State Street has signed a new office lease, totaling 162,000 square feet, at The District Burlington in Burlington, Mass., near Boston.\" \/>\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\/state-street-takes-162-ksf-near-boston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Street Takes 162 KSF Near Boston\" \/>\n<meta property=\"og:description\" content=\"State Street has signed a new office lease, totaling 162,000 square feet, at The District Burlington in Burlington, Mass., near Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/state-street-takes-162-ksf-near-boston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-13T11:27:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-13T13:08:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/700-District-Ave-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"669\" \/>\n\t<meta property=\"og:image:height\" content=\"502\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-street-takes-162-ksf-near-boston\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-street-takes-162-ksf-near-boston\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"State Street Takes 162 KSF Near Boston\",\"datePublished\":\"2025-11-13T11:27:08+00:00\",\"dateModified\":\"2025-11-13T13:08:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-street-takes-162-ksf-near-boston\\\/\"},\"wordCount\":376,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-street-takes-162-ksf-near-boston\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2025\\\/11\\\/700-District-Ave-edited.jpg\",\"keywords\":[\"AIG\",\"Cushman &amp; 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