Leading multi-asset alternative investment firm Bain Capital recently announced the signing of a lease renewal and expansion of its Boston headquarters offices.
The newly inked lease includes nearly 380,000 square feet of Boston office space and reportedly marked one of the largest leasing deals of the year for the Massachusetts market.
Boston-based real estate investment trust BXP (formerly Boston Properties) acquired the tower in 2010 for $930 million and is the landlord that initially signed Bain Capital to the tenant roster back in 2011. As of 2021, Bain occupied roughly 270,000 square feet in the building and reportedly started shopping for as much as 400,000 square feet last year.
Formerly known as the John Hancock tower, 200 Clarendon is the tallest office building in New England and incorporates more than 1.7 million square feet across 62 stories. Featuring 50,000-square-foot floorplates, above-standard ceiling heights, and floor-to-ceiling windows, the tower offers sweeping, 360° views of Boston and the surrounding region. Graded class A+, the office space here is LEED Gold-certified and will soon be complemented by an amenity exclusive to clients within the building: The 200 Club is slated to open in 2025 and will offer a curated hospitality and wellness experience designed to enhance productivity and well-being. Specifically, the 200 Club will feature elevated fitness, conference and lounge options.
Iconic Boston office space at the tallest office tower in New England. Property image of 200 Clarendon courtesy of CommercialEdge.com
Since the start of the year, BXP has leased roughly 2.2 million square feet of office space with most of the activity concentrated in the Boston, New York and Washington, D.C. regions. About 1.3 million square feet of leases were closed in the year’s second quarter alone.
“The consistent leasing activity we’ve witnessed across the portfolio in the second quarter of 2024 is a direct reflection of the demand for premier workplaces and high-quality product that we’ve been able to create for today’s market,” said Owen Thomas, BXP chairman and CEO, in a statement to GlobeSt. “As corporate earnings begin to increase, companies are moving forward with space decisions, and premier workplaces capture an outsize portion of that demand.”
Office space in the Boston Back Bay submarket, at 200 Clarendon (formerly John Hancock tower). Property image courtesy of CommercialEdge.com
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