801 Albany St. in South End Ideal for Office, Medical Office Users
(December 19, 2014 – Boston) – Transwestern | RBJ today announces the firm has been hired by Berkeley Investments Inc. as the exclusive leasing agent for 801 Albany St., a 42,000-square-foot, brick-and-beam building located in Boston’s South End neighborhood. The four-story building formerly housed office and classroom space for the Boston University (BU) School of Dentistry and is adjacent to the Boston Medical Center (BMC), the BU School of Medicine (BUSM) and the Northampton Square project. Transwestern │ RBJ Senior Vice Presidents Chris McCauley, Rob Byrne and Patrick Buckley will lead the leasing team.
“801 Albany St. is an ideal location for both office and medical office users, due to its excellent location near the BMC and BU medical campuses,” said McCauley. “Additionally, with its flexible floor plans, the building is well-suited to either single- or multi-tenant use. Berkeley is in the process of undertaking a capital improvement program that will include renovations to the lobby, building entry and elevators. We are confident the reintroduced space will lease quickly.”
The Boston Medical Center neighborhood represents one of Boston’s largest medical communities, and has seen rapid growth in the last decade. BMC employs more than 5,000 full-time employees and is New England’s largest trauma and safety-net hospital. BUSM is home to more than 3,000 students and 1,400 faculty members. Both BMC and BUSM have undertaken significant expansions and modernizations of their facilities, investing hundreds of millions of dollars in the region in the last decade, and these capital improvements are expected to continue. Currently under development, Northampton Square includes the construction of a new residential tower and the complete renovation of two existing residential buildings.
With a total of seven bus routes serving the area surrounding 801 Albany St., the property is easily accessible by public transportation. Additionally, it offers immediate access to Interstates 93 and 90, providing access to Boston’s suburbs and Logan Airport. The property is also one block from Massachusetts Avenue and Melnea Cass Boulevard, two of Boston’s primary arteries connecting the city’s neighborhoods.
The Boston market consists of 71.9 million square feet of office space, which was 10.1 percent vacant at the end of third-quarter 2014, according to research by Transwestern | RBJ.
ABOUT BERKELEY INVESTMENTS
Berkeley Investments, Inc. is a Boston-based, full service real estate company founded in 1991 with a primary focus on urban, transit oriented mixed-use properties. Over the course of its corporate history, Berkeley has acquired, developed and managed over 17 million square feet of office, flex and multi-family assets on behalf of its institutional and high net-worth investors. The firm is committed to developing active, sustainable and community friendly environments that promote innovative design and that enrich and revitalize our neighborhoods. For more information, please visit www.berkeleyinvestments.com.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TranswesternBOS.
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