REAL ESTATE HISTORY: One Boston Place
One Boston Place (aka 201 Washington Street) is an 825ksf office building overlooking the Old State House, the original colonial state capitol building. Constructed in 1970 for “The Boston Company” by Cabot, Cabot & Forbes, it features a distinctive “X-brace” façade designed by Pietro Belluschi, one time Dean of Architecture at MIT. The 41 story building is now the local corporate HQ of BNY Mellon.
Interesting stats from the PAST 14 days: (sublease & direct – in all cases temp space excluded) from Mass Ave to the Seaport, South End to North Station.
- A slew of 44 spaces hit the market as available in the subject area equating to ~352,000 SF, mostly due to 135000 SF @ 31 St. James (the former WeWork floors); 20271 SF @ 294 Wash; 36384 SF @ 30 Winter (the former “Commonwealth Care” floors);
- Only 16 spaces cameoff the market equating to ~124,000 SF, mostly due to 19630 @ 3 CP; 38820 SF @ 115 Fed & 16310 SF @ 100 Summer;
- Total Availability (direct & sublease) continues to tick up now at ~16.4 MM SF, which is its highest rate since December of 2021.