REAL ESTATE HISTORY: Completed in 1964, the Prudential Center is a 52 story 1.2MM SF building constructed by Prudential Insurance to essentially advertise the company (and with tax breaks from the City). Today, 60,000 people a day visit the Pru Center which has 3,600 parking spaces and 3.2MM SF of total buildings. “Lord & Taylor” was an original tenant from March 1968 (now closed). “800 Boylston” was the one of the first “mixed-use occupancy” buildings in the USA and designed by Charles Luckman – who was derided for this “failure”.
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 55 spaces hit the market as available in the subject area equating to ~558,000 SF, mostly due to 81084 SF at 294 Wash; 70028 SF @ 75 State;
- 42 spaces cameoff the market equating to ~265,000 SF, mostly due to a smattering of small to medium size leases across the subject area;
- Total Availability ticked up in this period to ~15.5 MM SF equating to 15.5%.