REAL ESTATE HISTORY: Original Rowes Wharf (1960) & today’s building
Built in 1987 by The Beacon Companies, in a neighborhood formerly called the “South Battery” since 1764. John Rowe purchased the land and built the original Rowes Wharf on land which extended slightly into Boston Harbor. The site was utilized for commercial water traffic until shipping’s later decline & demolished in 1960 by the BRA. The new building is a transportation hub, offices, hotel, restaurants & residences in about 330,000 SF.
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 43 spaces hitting the market as available in the subject area equating to an uncharacteristic ~614,000 SF, mostly due to 67214 SF @ 100 Causeway; 132549 SF @ 10 St James; 152017 SF @ 125 High; 25181 SF @ 60 State & 36537 SF @ 1 Fed;
- 44 spaces cameoff the market equating to ~201,000 SF, mostly due to 15934 SF @ 101 Huntington & 24348 SF @ 1 Marina;
- Total Availability (direct & sublease) ticked back up to ~16.15 MM SF, which is its highest rate since January of 2022.