The original sale-leaseback had Verizon settling into 100,000 square feet, which the new lease more than doubles. The JV intends a repositioning of the space in the 22-story building, which it only recently filed with Boston Redevelopment Authority. The redo will change the lobby, façade and convert some existing office space into 15,500 square feet of retail with frontage on Franklin Street and a new entrance on High Street, costing a reported $39 million. Part of the renovations will also add 110 parking spaces.
Glenn Verrette and Duncan Gratton of FHO Partners Asset Advisory Group represented the owners, while Bob Alexander, Rob Stillman, Joan Meixner and Andy Hoar of CB Richard Ellis represented Verizon.
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