CIM Group Breaks Ground on Boston Office Asset
- Jun 10, 2019
CIM Group, in partnership with Nordblom Co., has broken ground on 321 Harrison, a 235,000-square-foot office property in Boston’s South End. The Class A office building is rising above an existing three-story parking garage. The joint venture secured a $70 million construction loan for the property in 2017, Yardi Matrix data shows.
Located at 321 Harrison Ave., the eight-story modern office property will have 29,000-square-foot floorplates, floor-to-ceiling windows, multiple outdoor areas, balconies and energy-efficient mechanical systems. The building is located next door to 1000 Washington St., an 11-story office building the joint venture acquired in 2017.
Enviable amenities, location
Both buildings will share new tenant amenities including a fitness center, café, bike storage and front desk services in a two-story lobby that can be accessed from both buildings through separate entrances. Other shared amenities will include lounge areas and a roof deck. The new office building is expected to be completed by the end of 2020.
The location in the South End offers easy access to the nearby Massachusetts Turnpike, the Back Bay Train Station, South Station and the MBTA Silver Line. A variety of shopping and dining options are situated within walking distance.
One of the largest projects in Massachusetts’ history is slated to open later this month in Everett, Mass. Wynn Resorts is expected to open the $2.6 billion Encore Boston Harbor Resort on June 23. The 3 million-square-foot property will include a 671-key hotel.