Synergy Leases Over 40,000 SF at 101 Summer Street, Boston
BOSTON - On behalf of Synergy, a Boston-based real estate investment and development firm, CB Richard Ellis announced that five leases totaling over 40,000 square feet have been executed at 101 Summer Street in Boston, Massachusetts.
Synergy purchased the five-story 50,673 square foot office building in May of 2010 and in the span of just over four months has quickly secured leases that increase the occupancy to over 81%. Three office deals and two retail transactions, respectively, were facilitated with Murphy & Riley, PC for 18,507 square feet; Louison, Costello, Condon, & Pfaff, LLP for 10,785 square feet; R&Q USA, Inc. for 8,278 square feet; Chipotle Mexican Grill for 1,996 square feet; and Supercuts hair salon for 734 square feet.
"The quick lease up at 101 Summer Street speaks to the superior quality and location of the building. We welcome four new high-quality tenants to our growing Synergy portfolio and are very happy to accommodate the expansion needs of one of our existing tenants in Murphy & Riley," said Synergy President David Greaney.
The CB Richard Ellis office leasing team of Bill Crean, Senior Vice President/Partner, and Kevin Kennedy, First Vice President, represented the landlord in all of the office transactions in collaboration with the CBRE/Grossman Retail Advisors' team handling the retail level transactions. Murphy & Riley, PC has leased the entire second floor and the majority of the third. Louison, Costello, Condon & Pfaff, LLP, attorneys at law, have already moved into the entire fourth floor. R&Q USA, Inc., a specialist non-life insurance investor, service provider and underwriting manager, was represented by NAI Hunneman's Jeffrey Becker and will lease the majority of the fifth floor. The building is currently marketing the four remaining offices suites ranging from 1,100 to 1,500 SF as fully furnished and IT/phone-ready. Each office suite will be leased on a flexible short-term basis with the ability to accommodate two to seven professionals.
Chipotle Mexican Grill and Supercuts hair salon will be located on the retail level and plan to open their doors during the fourth quarter of this year. CBRE/Grossman Retail Advisors' Andrea Matteson, Senior Associate, brokered the retail deals on behalf of Synergy. Furthermore, two additional retail-level spaces are available for 1,898 square feet and 2,400 square feet, both fronting on Summer Street.
Originally constructed in 1873 after the Great Fire of 1872, the Church Green Building at 101 Summer Street is located within one of the most high-traffic areas in downtown Boston's Financial District. The building's proximity to South Station, a major transit hub in New England, and the intersection of Interstates 90 and 93 make this a highly attractive and accessible site in the city. The building offers access to the MBTA Red and Orange lines at Downtown Crossing and the Red and Silver lines at South Station; South Station also provides access to the MBTA Commuter Rail and Amtrak. Located in the downtown Financial District with proximity to the Theatre District, Chinatown and the Leather District, the Church Green Building stands at the crossroads of the city and is ripe for the enhancement of existing retail and office space.