X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-Bank of New York Mellon is staying in its 20 floors of One Boston Pl., signing a long-term renewal for almost half of the class A office tower. The trophy building–also known as the BNY Mellon Center–is 41 floors encompassing 800,000 square feet. Mellon’s total square footage comes in at 362,293 square feet. Bank of New York Mellon chose to renew its lease early, as its current term was not set to expire.

The building, having earned a LEED EB: O&M Gold–a sustainability award for operation and maintenance–is owned and operated by a joint venture between TIAA-CREF and SITQ Immobilier. CB Richard Ellis is the exclusive leasing agent for the building.

The lease is a five-year extension of their current lease, which wasn’t set to expire until 2013. CBRE did not disclose the price per square foot, but GVA Thompson Hennesy & Partners Second Half 2009 Office Market Report shows that class A towers in the Financial District average a rate of $54.32 per square foot. Floor plates range from 19,500 square feet to 20,000 square feet. Other tenants in the third tallest tower in Boston are Boston Capital Partners, Robinson & Cole and Wells Fargo, among others.

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?

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