By Aaron Jodka | SEPTEMBER 2018
Take a walk around the Financial District and you’ll see a lot of fencing blocking off buildings. Why? Landlords are investing in their properties. Boston’s position as a global city is firmly entrenched. The capital spigot is still flowing freely—just see the wave of recent deals—tenant demand remains at record highs, and tenants clearly want to be in the urban core to retain and attract talent. In order to keep up with this dynamic marketplace, landlords are finding ways to stay relevant, or stepping up their game.
Rockpoint is building a food hall, dubbed High Point Place, in the atrium between 160 Federal Street and 100 High Street. This is a differentiated amenity in today’s market that most landlords cannot include in their properties.
Lobby renovations have been popular, and several are underway. Following the lobby projects at 125 Summer, 99 Summer, and others, Heitman is redoing the lobby at 260 Franklin Street. LaSalle Investment Management is creating a new lobby/entrance for 110 High Street, while TH Real is in the midst of reorienting 99 High Street to face the Congress Street/High Street intersection. Synergy is investing $25 million in Center Plaza, which will include revising lobbies while also adding amenity spaces, new signage, and retail.
The most ambitious plans can be found at One Post Office Square. Anchor Line and Morgan Stanley plan to invest $250 million to put a glass façade on the tower, while also adding more square footage and outdoor space along with a new building.
There is a current lack of new development in the Financial District, although plans are in the works. But for now, these investments in renovations help to modernize properties and keep them competitive.