An outstanding retail space opportunity has opened up in a prominent office tower in the heart of Boston’s Financial District.
The opportunity comes in the form of 6,250 square feet of ground-floor space now available for lease in One Boston Place, a signature 41-story/800,000-square-foot Class A office tower.
The block of space is in a strong position to capitalize upon the vibrant downtown Boston marketplace, according to Newmark Director Joe Pierik, exclusive agent for the property and head of the retail group of the global commercial real estate services firm’s Boston office.
One Boston Place is located at the signalized intersection of State and Washington streets, where daily traffic and pedestrian counts both exceed 50,000, Pierik notes. It is the center of dense concentration of office space, with an average daytime population of 137,000 within a half-mile radius.
The busy intersection is also the northern terminus of Boston’s Washington St. retail corridor, home to approximately 1.4 million square feet-worth of established retailers. The intersection is one block from Faneuil Hall and directly across Washington from the “Old State House,” both among the most-visited sites along the Freedom Trail, whose 60 historic sites generate some 3.2 million visitors annually.
The space itself features a mezzanine and dramatic window treatments, according to Pierik. “It also has the only dedicated outdoor seating/patio area among any restaurants in the Washington Street corridor.
“This is one of the nicest blocks of retail space in one of the best office buildings in the city,” adds Pierik, “and, given its location and configuration, it is particularly well-suited for a signature, full-service restaurant.”
One Boston Place is owned by Teachers Insurance and Annuity Association, College Retirement Equities Fund (TIAA-CREF). The landmark tower, which has undergone some $44 million of interior and exterior improvements since 2002, was honored as “Office Building of the Year” from the 2008 Mid-Atlantic Conference of the Building Owners and Managers Association (BOMA).
The building has also recently been recognized by the U.S Green Building Council as the first building in the world to earn a Gold level of certification under the recently released Leadership in Energy and Environmental Design (LEED) standards for Existing Buildings; with the recognition, One Boston Place is now the highest rated LEED EB building in the city of Boston.
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank Newmark operate from over 195 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $47.6 billion with annual revenues of over $962 million. With a combined staff of more than 6,900, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.