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BOSTON-Citizens Energy leased 11,200 sf of office space at 88 Black Falcon Ave. in the Marine Industrial Park in a 20-year deal that relocates the company’s headquarters from Russia Wharf. J.P. Plunkett and Jim Brady, also of C&W, represented property owner International Airport Centers in the transaction. Plunkett points out that while the average asking rent for office space in the area is about $20 per sf, the space here is slightly higher because of the building’s waterfront location, shuttle to and from South Station, cafeteria and on-site parking.

Jay Driscoll and Tom O’Regan of Cushman & Wakefield represented CitizensEnergy, which was founded in Boston by Joseph P. Kennedy II in 1979 and helps people in need in the energy and health care fields in the US, Africa, Central and South America, and the Caribbean.

Russia Wharf is about to undergo a major redevelopment by its owner, Equity Office Properties Trust. The 95,000-sf site is located on the South Boston waterfront at the nexus of the financial district, South Station and Fort Point Channel and the plan to develop over 30 stories of office, retail, residential and hotel space at this location just received state approval.

Plunkett tells GlobeSt.com that Citizens Energy’s new location is a 400,000-sf office and warehouse building located on South Boston’s waterfront. He notes that about half the building is warehouse space and that is fully occupied while the office space is nearly fully leased with about 25,000 sf available.

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