Jeffrey Becker with NAI Hunneman Commercial tells GlobeSt.com that the travel company moved out of One India St. around 1980 when the top nine floors of the 11-story building were turned into condominium units, leaving just one floor of offices. The company moved to 30 Batterymarch St. at the time, but recently decided to return to their old home after office space at the India Street property became available, he says.
"They wanted to stay very close in the neighborhood and this building has a certain panache," says Becker, adding that the building has an appeal, not only because of its architecture, but because it lies in an area of lower buildings that allow offices a lot of natural sunlight. "You're not sandwiched in between towers."
The building, one of the first Downtown office towers to be converted to residential use, still contains long-term corporate rental housing on the top nine floors but is also home to a first-story bar called the Place. The building's second floor has remained as office space throughout its history.
While terms of the lease were not disclosed, Becker said office space in the area generally rents in the $20 to $22 per-sf price range. Becker represented both the owner, Oakwood Worldwide, and the tenant.
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