Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-KPMG LLP, a US audit, tax and advisory firm, will become the anchor tenant of Two Financial here in the Financial District. The firm will take 115,000 sf of class A office in a long-term lease, as well as building and lobby signage.

KPMG will have “very good expansion and extension options,” according to Jay Driscoll, executive director at Cushman & Wakefield. C&W represented KPMG in the deal with Driscoll and senior director Jim Brady of Boston.

The building will total 220,000 sf and is set to deliver construction by June of 2010 when KPMG is scheduled to move into their brand new space. The firm will move from 99 High St., relocating its 692 employees to the new space. ASB Capital Management and Lincoln Property Co. formed a joint venture to develop the project, located across the street from South Station.

“KPMG has deep roots in this market and we want to continue to grow with the city,” says Bud LaCava, KPMG’s managing partner in Boston, in a statement. “We considered other options and our investment in Two Financial enter demonstrates our commitment to the city of Boston.”

Driscoll points out that Two Financial will be the first new building constructed in the Financial District since 2003, and that “the things that KPMG found most appealing was the ability to really brand a building with signage and identity, and to be able to control a large amount of space over a long period of time.”

Lincoln Property Co. represented itself in the deal by president John Miller. The price of the lease was undisclosed, but according to Q3 Cushman & Wakefield’s Market Report, the average rental rate per sf in the Financial District is $57.89, which brings the lease to roughly $6.6 million.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.