Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-Verizon Wireless is deciding to stay at 185 Franklin after some consideration of moving elsewhere when its lease expired. The wireless provider is signing a long-term lease for 201,967 square feet on floors three through six. The former owners of 185 Franklin, they sold the building in a $192-million sale-leaseback last year to a JV of Kennedy Associates and Commonwealth Ventures.

The original sale-leaseback had Verizon settling into 100,000 square feet, which the new lease more than doubles. The JV intends a repositioning of the space in the 22-story building, which it only recently filed with Boston Redevelopment Authority. The redo will change the lobby, façade and convert some existing office space into 15,500 square feet of retail with frontage on Franklin Street and a new entrance on High Street, costing a reported $39 million. Part of the renovations will also add 110 parking spaces.

Glenn Verrette and Duncan Gratton of FHO Partners Asset Advisory Group represented the owners, while Bob Alexander, Rob Stillman, Joan Meixner and Andy Hoar of CB Richard Ellis represented Verizon.

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.