Boston Law Firm Signs 15-Year Lease at Tishman Speyer Tower
- Aug 16, 2018
Burns & Levinson, a Boston law firm that has had its offices at 125 Summer St. for nearly 30 years, is moving next summer to 125 High St., a 30-story Class A office tower in the city’s Financial District.
The firm signed a 15-year lease to occupy approximately 100,000 square feet in the 950,000-square-foot tower owned and operated by Tishman Speyer. The new space features a larger floor plate across two floors that will allow the firm to create a more collaborative environment for its 250-plus lawyers and staff. Gensler will design the interior, which is expected to include a grand staircase connecting the two floors into one cohesive office.
“We are very excited about this move, and the opportunity to develop this space to our exact specifications. We love the new location which borders on two important symbols of Boston: the Greenway and the Seaport,” David Rosenblatt, managing partner at Burns & Levinson, said in a prepared statement. “Our approach to practice—collaborative, hands-on and personalized—will be enhanced by our new office. The new space will bring us together on two connected floors that will be designed from the ground up for interaction.”
The firm’s current space at 125 Summer St. is spread across five floors. The company has been at that site since 1990.
Early design plans for the new space call for it to have multiple common areas for people to talk, work and interact in comfortable and engaging environments to promote collaboration and build a sense of community. The office design will feature lots of glass to bring in natural light.
High Street leases
Three years ago, Tishman Speyer announced two big leases at 125 High St. In early July 2015, publisher Houghton Mifflin Harcourt committed to 162,000 square feet of space, one of the largest office lease transactions in the city that year. That news was followed within weeks of the announcement by Wells Fargo that it was taking 150,000 square feet, marking the second 100,000-plus square-foot deal at the tower in just over a month. Wells Fargo’s 14-year lease took effect in January 2017. Houghton Mifflin Harcourt also claimed its new space at 125 High St. in 2017.
The Burns & Levinson lease placed fourth in a list of top lease transactions in the second quarter, according to Lincoln Property Co.’s Boston Office Market Report Second Quarter 2018. The city’s top lease for the quarter was Amazon taking 430,000 square feet at Parcel L4 in the Seaport submarket. Pepper Hamilton LLP, another law firm, also leased space at 125 High St. in the second quarter, signing for 42,105 square feet.
“The region’s demographics and economy have remained solid which has supported and promoted Boston’s recent expansion,” the report stated. “Looking forward, expect durable market conditions and a diversified economy to guide the region’s commercial real estate market to a strong market performance over the next several years.”
Images courtesy of Burns & Levinson