77 North Washington Street - Boston, MABoston, MA Avison Young has completed more than 35,000 s/f of office lease transactions in the Bulfinch Triangle Historic District of the city’s North Station area.
Pixability, an online video ad buying and marketing platform, leased 13,889 s/f at 77 North Washington St. Matt Twombly, a vice president in Avison Young’s Boston office, serves as the exclusive representative for the landlord, The Finch Group. Jon Frisch of T3 Advisors represented Pixability in the transaction.
Projector PSA, Inc., a leading developer of cloud-based professional services automation software, leased 8,175 s/f at 85 Merrimac St., the only building in the Bulfinch Triangle listed on the National Register of Historic Places. Avison Young principal Karyn McFarland serves as exclusive leasing agent at the building for landlord Massey & Company. Bryan Sparks of Jones Lang LaSalle represented Projector PSA, Inc. in the transaction.
Confirm, Inc., signed a 7,120 s/f sublease at 60 Canal St. McFarland and Twombly represented Confirm, Inc. Daniel Collins and Greg Tanner of Colliers International represented the sublessor.
An additional 6,449 s/f was leased to multiple tenants at 225 Friend St., where McFarland and Twombly serve as exclusive landlord representatives for KS Partners, LLC.
North Station is currently one of the most in-demand areas of the region. According to Avison Young’s Second Quarter 2015 Greater Boston Office Market Report, vacancy in the North Station micromarket was 2.6% at the close of the quarter, significantly lower than the overall market’s vacancy rate of 6.7%.
“Low vacancy rates in downtown Boston and unprecedented construction in the North Station area have helped the Bulfinch Triangle emerge as a lively neighborhood,” said McFarland. “In addition to new office users and residents, new retailers and restaurants are also recognizing the enormous potential of this active submarket.”
Avison Young is one of the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,000 real estate professionals in 71 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.