The firm moved its two Boston satellite offices under one roof, closing down shop in 6,000 sf of space at 131 Tremont St. and moving out of 12,000 sf at Russia Wharf, Jay Driscoll, senior director with Cushman & Wakefield in Boston tells GlobeSt.com. "It was a good sized expansion for them. They toured the market, looked at a lot of alternatives and decided to stay."
Terms of the long term lease were not released. The 20-story, 348,901-sf class A office in the Financial District generally leases from the low $30s per sf to the low $40 per sf gross, Driscoll says. The property is between 60% and 70% leased to tenants that include Pangora Asset Management, Lehman Brothers, Line Data Services and LeBoeuf Lamb Greene & MacRae LLP.
Heitman Properties serves as the asset manager for the building's owner, Florida State Teachers' Pension Fund. Driscoll along with Rebecca Galeota, an associate director with Cushman & Wakefield, represented the tenant. Heitman was self-represented.
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