Columbia Property Trust Secures 33,000 SF of Leasing at 116 Huntington in Boston
Columbia Property Trust (NYSE: CXP) announced the signing of four leases at its 116 Huntington Avenue property in Boston, totaling 33,000 square feet. This includes three lease extensions and expansions, and a new lease with diverse tenants like Longpoint Realty Partners and Imara. The building is now nearly 90% leased and located in a prime Back Bay area. Columbia has made significant building enhancements since acquiring it in 2015. They are also in talks with restaurant operators to repurpose the ground floor space previously occupied by Lucca Restaurant.
- Total of 33,000 square feet leased at 116 Huntington Avenue.
- Building nearly 90% leased with diverse tenants in financial services, healthcare, and technology.
- Significant property enhancements made since 2015 acquisition, including modern upgrades and air filtration systems.
- None.
Columbia Property Trust, Inc. (NYSE: CXP) announced today that it recently signed four leases at 116 Huntington Avenue, its Class-A office property in Boston. The four leases, which included three extensions and expansions totaling 27,000 square feet and a new lease for 6,000 square feet, were signed with:
Columbia Property Trust has secured 33,000 SF of leasing at 116 Huntington in Boston. (Photo credit: Shoootin)
- Longpoint Realty Partners, a real estate private equity firm that has expanded its footprint in the building to 8,000 square feet as part of an eight-year lease;
- Imara, a biopharmaceutical company, which expanded its leased space to 9,000 square feet as part of a five-year lease;
- Segal, a benefits and HR consulting firm, which now leases 10,000 square feet of office space at the building as part of a 10-year lease extension; and
- Mugar Enterprises, a Boston-based, privately held real estate development and investment firm, which signed a new 6,000-square-foot, seven-and-a-half-year lease at the property.
With these transactions, Columbia’s 272,000-square-foot Back Bay building is nearly 90 percent leased to a diverse roster of tenants, including financial services, healthcare, and technology companies. Columbia secured these four leases while also actively negotiating with restaurant operators as part of its plan to reposition the ground floor space formerly occupied by Lucca Restaurant.
“As Imara’s business continues to grow, we are excited to secure a long-term home at 116 Huntington. Located in the heart of the Back Bay, 116 Huntington provides our employees with the complement of convenient commuting access, the streetscape energy of the Back Bay and the personalized service you can only find in a boutique office building,” said Michael Gray, Chief Financial and Chief Operating Officer of Imara.
“We are pleased to retain our headquarters at 116 Huntington in Boston,” said Reid Parker, Founding Partner of Longpoint Realty Partners. “After six years at the building, we greatly value its location and service delivery and were glad to be able to expand within the same building to meet our needs today.”
“We are pleased to welcome Mugar Enterprises to their new home and expand our relationships with Longpoint, Imara, and Segal, accommodating each of these companies as they reimagine and reconfigure their office spaces to best serve their needs today,” said Eric Rubin, Senior Vice President CREM and Northeast Real Estate for Columbia Property Trust. “116 Huntington continues to be a destination of choice for successful companies that value a high-end boutique office experience in Boston and desire access to all the city’s dynamic Back Bay neighborhood has to offer.”
Other notable tenants at 116 Huntington include American Tower, Silversmith Capital Partners, and GE Healthcare. Local favorite Jaho Coffee occupies prime retail space in the building, giving tenants and the community convenient access to an array of food and beverage options.
Columbia has completed significant enhancements to 116 Huntington since acquiring the building in 2015. These include modern upgrades to the main entrance, lobby, elevators, and other common areas, which have elevated and enhanced the experience of building tenants and guests. Building features include 24/7 security and access and in-building parking, and Columbia also recently installed bipolar ionization and advanced air filtration throughout the building to provide a safer and healthier environment for all building occupants.
116 Huntington still has several opportunities for companies to enter or expand within the building over the next 18 months. Upcoming availabilities, which are being marketed by Cushman & Wakefield, include pre-built office suites that begin at 4,000 square feet, up to full-floor availability.
For more information about the property and availabilities, visit 116huntington.com.
About Columbia Property Trust
Columbia Property Trust (NYSE:CXP) creates storied properties for legendary companies in New York, San Francisco, Washington D.C., and Boston. The Columbia team is deeply experienced in transactions, asset management and repositioning, leasing, development, and property management. It employs these competencies to grow value across its high-quality, well-leased office portfolio of 15 properties that contain more than six million rentable square feet, as well as four properties under development, and also has more than eight million square feet under management for private investors and third parties. Columbia has investment-grade ratings from both Moody’s and S&P Global Ratings and has been named one of Fortune’s “Best Workplaces in New York 2021” among Small and Medium-sized employers, as well as one of the "Best Places to Work in NYC 2020" by Crain’s New York. For more information, please visit www.columbia.reit.
Forward-Looking Statements:
Certain statements in this press release, including statements regarding future business operations, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. Our actual results may differ materially from projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements, see Columbia Property Trust’s filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K. We caution readers not to place undue reliance on these forward-looking statements, which are based on current expectations and speak as of the date of such statements. We make no representations or warranties (express or implied) about the accuracy of, nor do we intend to publicly update or revise any such forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.
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