Boston, MA Synergy, a real estate investor, operator, and manager, has acquired 101 Arch St., an office tower located in downtown. Details of the acquisition were not disclosed.
101 Arch St., a 21-story, 406,928 s/f office tower, marks a significant addition to Synergy’s portfolio of over 7 million s/f. Situated at the intersection of Arch and Summer St., 101 Arch St. offers unparalleled amenities and accessibility. The property features entrances on both Arch and Summer St., providing convenient access for tenants and visitors. The building’s location atop of the Downtown MBTA T station also ensures commuter connectivity, with direct access to the Red, Orange, and Green lines along with onsite parking garage.
Constructed in 1989, 101 Arch St. underwent a comprehensive renovation with upgraded amenities in 2020 designed by CBT Architects. The interior renovation included a 20,000 s/f lobby repositioning, a new conference center and tenant lounge, and a fitness center. The design incorporated elements of its historic charm while modernizing its functionality, reflecting the building’s past through subtle nods to its history, including references to the area’s former grandeur, and iconic landmarks like Kennedy’s Department Store.
The property is currently 82% leased with 34 tenants, including Rockland Trust, KP Law & Thorton Thomasetti, reflecting its strong leasing history and attractiveness to a diverse range of tenants. With over $22 million invested in capital improvements over the past decade, the property strengthens Synergy’s portfolio.
“Adding 101 Arch St. to our portfolio aligns perfectly with our strategy of investing in high-quality assets in prime locations,” said David Greaney, CEO Of Synergy.
“With its modern design, exceptional amenities, and unmatched commuter accessibility, 101 Arch Street represents a prime opportunity for Synergy to create value for our tenants and stakeholders.”
In addition to its amenities, 101 Arch St. is LEED Gold certified, WiredScore Gold certified, and has been Energy Star certified since 2009, a testament to its commitment to environmental responsibility and energy efficiency.
The deal was brokered by JLL, led by Coleman Benedict, senior managing director, investment advisory platform leader, Chris Angelone, senior managing director, Scott Carpenter, senior director, capital markets, Brooke Howard, associate, capital markets, Scott Tully Jr., analyst, capital markets, americas, and Rachel Bliss, analyst.
