Boston, MA Transwestern Consulting Group (TCG) brokered a new 10,000 s/f lease on behalf of Legacy Real Estate Ventures LLC at 46 Plympton St. TCG Partner Tom Ashe, along with senior vice presidents Patrick Buckley and Jeff Landers, represented building ownership in the lease with Freight Farms.
“A distinctive building with charm and character, 46 Plympton St. has brick-and-beam construction that is typical of Boston’s South End,” said Buckley. “As lease rates continue to climb in areas like the Seaport District, Back Bay and Financial District, we’re seeing an increase in interest for other locations within the city, particularly from start-up and early-stage companies.”
Freight Farms is rapidly growing its team to support these new markets and has chosen to relocate its corporate headquarters from 840 Summer St. to the first and fourth floors of 46 Plympton St. Freight Farms was represented in the lease by Scott Richmond of Landmark Real Estate Advisors.
46 Plympton St., a five-story building encompassing 25,000 s/f of office space, is located near the Ink Block development, several hundred residential units under construction and the future site of the Boston Flower Exchange.
Freight Farms designs and manufactures vertical hydroponic farms inside “up-cycled” freight containers that enable any business, individual or community to grow fresh produce year-round, regardless of climate or geography. The company has deployed farms throughout the U.S., Canada, and Caribbean and has more recently expanded to the European Union and Dubai.
According to research from TCG, the Boston Central Business District had 74 million square feet of office space with 9.4% vacancy at the close of second quarter 2017.
Based in Waltham, Legacy Real Estate Ventures’ primary focus is the acquisition and value enhancement of commercial real estate, with a goal of increasing value through cash flow and appreciation. As implied by the name Legacy, it is the company’s intention to build long-term value that can be passed on to future generations. Legacy currently owns 16 properties throughout the Greater Boston, Providence and Philadelphia markets.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate.
