Oxford Properties Inks 160 KSF Lease in Downtown Boston
- Oct 11, 2019
Oxford Properties Group has signed a 159,860-square-foot lease with Klaviyo at 125 Summer Street, a Class A office tower in Boston. The technology company will relocate from 225 Franklin Street and occupy seven consecutive floors at the new location, from the fifth through the 11th floors. Klaviyo will become the biggest tenant of 125 Summer Street, on a roster that includes Asics, Analog Devices, Haemonetics and Tatte Bakery & Café.
According to Yardi Matrix data, Oxford Properties acquired the 495,000-square-foot property in 2014 for $242.5 million from EQ Office as part of a $2.3 billion transaction. The purchase was subject to a $150 million loan from Sammons Financial Group. Oxford Properties also owns 225 Franklin Street, the 33-story office building where Klaviyo is currently headquartered.
The 22-story office building at 125 Summer St. occupies a full block adjacent to Interstate 93 in Boston’s central business district, one block northwest of South Station. Built in 1989, the LEED Gold-certified tower underwent cosmetic renovations in 2000, Yardi Matrix shows. The asset features 50,000 square feet of retail and floorplans ranging from 21,000 to 23,639 square feet. Amenities include five levels of underground parking, bicycle parking and a Starbucks café.
One mile down Summer Street, Foundation Medicine completed a 580,000-square-foot lease in August at WS Development’s upcoming office tower. The building, part of the 23-acre Boston Seaport project, is expected to break ground this year.