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Newmark Grubb Knight Frank (NGKF) is pleased to announce that Senior Managing Director Jason Cameron recently completed a 12,687-square-foot lease at One Winthrop Square in Boston on behalf of property owner, DivcoWest. This recent transaction brings the historic building’s occupancy to 92%.
One Winthrop Square is a five-story, 102,567-square-foot Class A office building. The “jewel box” style building was built in 1873, and was originally home to several dry goods merchants. It was later the headquarters of the Record American newspaper, a predecessor to the Boston Herald. Extensively renovated in 1990 and 2008, the property features exposed brick and beam suites, floor-to-ceiling windows, efficient floor plates, 24/7 building access, on-site security as well as a newly renovated lobby. DivcoWest purchased the building in 2014 and updated the lobby area. Centrally located in the heart of Boston’s Financial District, the property fronts the ½ acre Winthrop Square Park and offers easy access to several public transportation options.
The most recent 12,687-square-foot lease was signed by Salsify, Inc., a Boston start-up which aims to make e-commerce sites easier to manage. Salsify, Inc. currently leases 3,354 square feet within 109-115 Broad Street, also in Boston. Due to the company’s growth and need for additional space, Salsify, Inc. chose to relocate to One Winthrop Square, where it will more than triple its square footage. Cameron represented DivcoWest in the lease negotiations and will market the remaining 8,088 square feet available. Charles Kavoogian and Jon Freni of CBRE - New England represented Salsify, Inc.
“One Winthrop Square offers tenants a rare opportunity to operate from a historically landmarked building in the heart of Boston, with 21st century amenities,” said Cameron. “Our success in leasing the property stems from the desirable location, successful and stable ownership, and our dedication to tenant satisfaction.”
Founded in 1993, DivcoWest is a privately owned real estate investment firm with offices in San Francisco and Boston. The company has acquired more than 30 million square feet of commercial space throughout the United States.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.