Properties
230 Congress St.
Boston, MA
230 Congress St.
Overview
230 Congress Street is perfectly situated along the Rose Kennedy Greenway in Downtown Boston. Originally, Western Union’s headquarters, this building has morphed from solely a telecommunication hotel, to an asset that houses a mix of telecommunication tenants and professional services companies. The building's telecommunication draw is attributed to its superior interconnectivity and extensive telecommunication systems. The tenant rent roll includes strong companies such as AT&T, Pitney Bowes, and Loring, Wolcott, and Coolidge. Further, the previous owner extensively renovated the building, from replacing the façade to installing new windows and has repositioned it to attract professional services companies.
Description
230 Congress Street is a historically strong telecommunication asset with an excellent operating history, situated among Boston's strengthening downtown office market. The average occupancy of the previous five years is 93%, well above the market average. The recent tenanting of the Building with professional services companies has positioned the Building to take advantage of and offer space in a shrinking supply market for Class-B office space. Surrounded by a multitude of first-class amenities, including hotels, retail, and fine dining, 230 Congress St. will capture the growth that Downtown Boston is experiencing while giving Class-B office tenants amenities they demand. The location on two of Boston Financial District’s high trafficked streets, allows Brickman to increase revenue by leasing up the vacant corner retail and bringing in more revenue-generating retail businesses.
Results
Brickman has executed a lease to bring a Dunkin' Donuts to the building and is working with potential tenants to lease the vacant space and with current tenants to renew their leases.