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Fri, Mar 29
A Compendium of Property & Capital News
Fri
Mar 29

A Quick Peek at Boston’s Core District Recent Activity

March 29, 2017 - By Encopmass Real Estate Solutions
Recent CRE Activity In Boston's Core

Vacancy decreased 0.5 percent to 9.1 percent as tenants absorbed 154,000 sf, extending a recent trend where occupancy has increased in four of the past five quarters.

◊ Tenants continue to drive substantial absorption in Class A space in the Greenway; 215,000 sf of quarterly demand included Wells Fargo’s 151,000 sf consolidated location at 125 High Street.

◊ Publicis.Sapient and DigitasLBi will move into a combined 217,000 sf at 40 Water Street in 2018; the move is the second major media company to move into a redevelopment of an older Core facility,following Havas Media’s move into 426 Washington Street, in 2016.

◊ South Station air rights may expire by the end of April if development is not underway by April 30.

◊ The Boston Planning and Development Agency approved a zoning measure which would allow The Chiofaro Company to construct a 600-foot tower they proposed in place of the Aquarium Garage.

Read the recent report on Boston’s Core here, by Perry Brokerage