Smith Mack Wins 423,000-SF Leasing Assignment

WILMINGTON, DE-Smith Mack & Co./Oncor International has been selected by property owner Newton, MA-headquartered HRPT Properties Trust to handle the leasing activity for two office structures totaling 423,000 sf. The 14-story, 257,000-sf building at 802 Delaware Ave. is a vacant class-A offering that had been occupied by Chase Manhattan Bank until December of last year.

The eight-story, class B property at 1001 Jefferson St. offers 166,000-sf and is 88% leased.

“Grubb & Ellis had the assignment, then Insignia had it,” Smith Mack’s Wills Elliman tells GlobeSt.com. Elliman is teaming with colleague Neal Dangello to manage the properties’ leasing activity. “We are the third broker in. However, both companies did a fine job in marketing.”

HRPT has owned the properties for just a few years, having purchased the 16-year-old Delaware Ave. building in 1998 for $42.25 million, and the 19-year-old Jefferson St. structure in 1999 for $14.5 million. Office space in the buildings leases for $20.25 per-sf and $16.50, respectively.