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Boston Properties Announces 10-Year Lease Renewal & Expansion With Wellington Management at Atlantic Wharf
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Boston Properties (NYSE: BXP) and Norges Bank Investment Management announced a long-term lease renewal with Wellington Management at Atlantic Wharf in Boston. The 10-year lease, starting in 2026, covers 524,000 square feet, including a 66,000 square foot expansion. Wellington has been located at this site since 2011. Atlantic Wharf is recognized for its sustainable design, featuring LEED Double-Platinum certification and climate resilience technologies like AquaFence. The property also hosts over 100 public events annually, reflecting a strong commitment to community engagement.
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Wellington Management signed a 10-year lease renewal for 524,000 square feet, including a 66,000 square foot expansion.
Atlantic Wharf's sustainable design received LEED Double-Platinum certification, enhancing BXP's reputation in green building.
The property hosts more than 100 public events annually, indicating strong community engagement and visibility.
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BOSTON--(BUSINESS WIRE)--
Boston Properties, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of Class A office properties in the United States, and its partner, Norges Bank Investment Management announced today that Wellington Management has signed a long-term lease renewal at Atlantic Wharf located at 280 Congress Street, Boston, Massachusetts. The 524,000 square foot, 10-year lease agreement will commence in 2026 and includes a 66,000 square foot expansion within the building which commences in 2022. Wellington, one of the world’s largest independent asset managers, has been headquartered at Atlantic Wharf since the building’s opening in 2011, and will occupy 22 floors of the 31-story building.
Atlantic Wharf, designed as Boston’s “First Green Skyscraper,” is consistent with Wellington’s long-standing commitment to sustainable investing and practices. Certified LEED “Double-Platinum” for both Building Design and Construction as well as Operations and Maintenance by the U.S. Green Building Council, the building features a rain harvesting system that was designed to save more than 12.5 million gallons of water annually and a green roof that is home to four beehives that produce honey that is gifted to building occupants and the community. The building was ENERGY STAR certified in 2020 and was a recipient of the 2012 ULI Global Awards for Excellence. In addition, Wellington’s office space received LEED “Gold” certification for Interior Design and Construction.
Atlantic Wharf features AquaFence portable storm barriers, which the Company purchased in 2018 to protect the property from storm-driven flood risks on the Boston Waterfront. BXP was one of the first developers to activate the AquaFence and support from Wellington was key to securing City approvals for this climate resilience technology. Today at least a dozen Boston Waterfront properties have added AquaFence to their emergency management plans.
Atlantic Wharf is known for diverse community programming and hosts more than 100 public events annually, including community meetings, fitness classes, and children’s festivals, many of which are in partnership with local organizations such as Boston Harbor Now, “e” inc., InnerCity Weightlifting, Ohana New England, Save the Harbor Save the Bay, Brown Box Theatre Project, and the BSA Space. Atlantic Wharf has been recognized by several neighborhood associations as an example of successful and consistent community programming and was awarded the 2017 Onboard Award by Boston Harbor Now.
“Since day one, Wellington has been an extraordinary partner and supporter in our commitment to sustainable innovation and bringing diverse public programming and access to the waterfront,” said Bryan Koop, Executive Vice President, Boston Region, BXP. “Wellington’s long-term commitment to Atlantic Wharf, Fort Point Channel, and the city of Boston is incredibly important, and we look forward to another ten years of successful innovation and community outreach.”
Located on Boston’s Waterfront, Atlantic Wharf is steps away from the Rose Kennedy Greenway and Boston Harbor. The property features a 790,000 square foot office tower, creative office space, residential units, underground parking, a waterfront plaza, and onsite retail including Nebo, Sorelle, Smith & Wollensky, and Trade restaurants. Atlantic Wharf is conveniently accessible from I-90 and I-93 and is located within two blocks of South Station, one of Boston’s largest commuter rail, Amtrak, and MBTA bus and subway transit stations.
About Boston Properties
Boston Properties (NYSE: BXP) is the largest publicly traded developer, owner, and manager of Class A office properties in the United States, concentrated in six markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires, and owns a diverse portfolio of primarily Class A office space. Including properties owned by unconsolidated joint ventures, as of June 30, 2021, the Company’s portfolio, totaled 51.5 million square feet and 197 properties, including nine properties under construction/redevelopment. For more information about Boston Properties, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.
About Norges Bank Investment Management
Norges Bank Investment Management is the asset management division of Norges Bank, the Norwegian central bank. As manager of the Government Pension Fund Global, its mission is to safeguard and build financial wealth for future generations in Norway.
The fund is invested globally in equity, fixed income, real estate and renewable energy infrastructure. It had investments worth 11,673 billion kroner, or $1,350 billion, as of 30 June 2021.
The fund owns direct real estate investments worth approximately $32 billion, totalling nearly 800 assets across 13 countries. In the US, the fund owns direct real estate investments across 22 million square feet of office and retail properties in New York City, Boston, Washington D.C. and San Francisco.
About Wellington Management
Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 3,200 clients in more than 60 countries. The firm manages more than US$1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. For more information, please visit wellington.com.
