REAL ESTATE HISTORY: The Pine Street Inn’s 444 Harrison Ave. completed in 1894 & designed by Edmund March Wheelwright was created in the style of Florence’s Palazzo Vecchio. The building originated as the headquarters for Boston Fire Department. The firefighters needed a lookout tower which is made up of yellow brick, evoking the image of a “medieval battlement”.
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 quiet period with only 32 spaces hitting the market as available in the subject area equating to ~127,000 SF, mostly due to 22,373 SF @ 125 Summer St; 13079 SF @ 280 Summer St; 12616 SF @ 10-24 School;
- 30 spaces cameoff the market equating to ~203,000 SF, mostly due to 31,422 SF @ 125 Summer; 28114 SF @ 53 State;
- Total Availability (direct & sublease) ticked up in this period to ~15.750 MM SF equating to 17.3%.