IXIS Asset Management Group, formerly a division of New England Life, searched the market but opted to remain in the same building where it has been a tenant for about 10 years, David Richardson, executive vice president of Boston-based McCall & Almy, tellsGlobeSt.com. "We looked everywhere. They were investigating all their alternatives."
He adds that IXIS, which occupies about 40% of the 229,844-sf, class A property, chose to stay because the building's owner to renovate and upgrade the facilities. Terms of the lease were not revealed but Richardson says similar space in the Back Bay generally leases for approximately $30.
The company occupies space on seven floors in the building. "We made them a good deal," Bill Motley, senior vice president with Spaulding & Slye, tells GlobeSt.com, adding that the firm's decision to remain as tenants came down to "a combination of economics and other issues." He and Jeremy Roy, an assistant vice president, represented the ownership.
Built in 1984, the building, which is fully occupied, was acquired for $55 million last July by a joint-venture between Rockwood Capital Corp. and Abbey Road Advisors. Located just a half block away from the Public Garden, Boston Common and Copley Square, it counts among its tenants Pleasantville, CA-based software firm Zantaz Inc. and Time Inc.
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