X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-Hanscomb Faithful & Gould is moving into the city with its 7,500-sf lease at 55 Summer St. The construction management consulting company was previously located at 2067 Massachusetts Ave. in Cambridge.

Lisa DonFrancesco, VP of The Codman Co. Inc., represented Hanscomb, which is previously known as Atkins Hanscomb, while Mark Browne, of Browne Realty Advisors represented property owner, H.N. Gorin Inc.

The CA-based company moved its local offices to this location in the heart of the city’s retail and financial districts to provide the company with a central location for its employees and clients. The 10-story office building has 126,000 sf and was built in 1976. The building is nearly fully leased and among its other office tenants are Maximus, Curtin, Murphy & O’Reilly, American Express Business Travel Center, Robert Ercolini, Stone Legal and Big Brother Foundation.

While its fundamentals remain solid, the financial district’s market is still contending with overall vacancy rates of about 18%. Lease rates for this deal were not available, but average asking rents for this area are approximately $40 per sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.