JLL and Cassidy Turley facilitate 61,000 s/f lease at 45 Milk Street to Year Up

December 18, 2014 - Front Section

45 Milk Street - Boston, MA

Year Up, a one-year intensive training program that provides low-income young adults with a combination of hands-on skill development, college credits, corporate internship and support, signed a lease for 61,000 s/f of first class office space at 45 Milk St. A phased move-in has begun with Year Up's national and Boston teams now occupying the new space. The balance of their employees are scheduled to occupy in the spring of 2015.
JLL senior vice president Brad McGill, managing director Bill Barrack, executive vice president Tom O'Regan, and associate Dan Cavanaugh represented the building owner. The Cassidy Turley team of executive managing director/principal Charles O'Connor, vice president Elizabeth Spath, and associate vice president Colin Greenhalgh represented Year Up. JLL is the exclusive leasing agent, property manager, and construction manager for the asset.
The recently renovated office building in the city's Downtown will serve as the Year Up's national headquarters. A capital improvements program has been completed at the dramatic nine-story mid-rise. This included a renovation of the lobby with contemporary finishes, enhanced lighting, modern furniture, and a new concierge station.
"We are delighted to call 45 Milk Street our new home," said Gerald Chertavian, Year Up founder and CEO. "The location and space itself are inspiring to our students and staff, and will help us with our ongoing efforts to increase the number of young adults we serve."
Built in 1893 for the International Trust Company, the Beau Arts style building was modernized in 2014, 2005 and 1990. It features historical architecture, a two-story lobby, high ceilings, large windows with an abundance of natural light, and street level retail. The boutique office building is centrally located near the Park at Post Office Sq., Faneuil Hall Marketplace, the Rose Kennedy Greenway, and Boston Harbor Waterfront.
"We are proud to be a part of Year Up's exponential growth," said JLL's McGill. "They chose 45 Milk for their successful and impactful program because of its blend of contemporary and classic design aesthetics, and to be in the midst of every Downtown amenity."
JLL's property management team consists of regional director Brian Barriero, senior vice president Dan Ozelius, and senior general manager Robin Arian. The marketing team is headed by senior vice president Steve Steinberg.
Year Up's mission is to close the Opportunity Divide by providing urban young adults with the skills, experience, and support that will empower them to reach their potential through professional careers and higher education. Year Up achieves this mission through a high support, high expectation model that combines marketable job skills, stipends, internships and college credits. Its holistic approach focuses on students' professional and personal development to place these young adults on a viable path to economic self-sufficiency. Year Up currently serves more than 2,100 students a year at sites in Atlanta, Baltimore, Boston, Chicago, Miami, New York City, Philadelphia, Providence, San Francisco Bay Area, the National Capital Region, and Puget Sound (Seattle).
JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion s/f, or 280 million square meters, and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
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