LOS ANGELES – September 25, 2014 – A fund sponsored by CBRE Global Investors has acquired 100 High Street, a trophy-quality, 28-story, office building located in the heart of Boston’s Financial District. The 546,336 square foot property is 64 percent leased to a tenant base that includes technology companies, law firms and insurance companies with long-term leases. The acquisition also includes a 273-space three-level on-site subterranean parking garage.
Situated between Congress and Federal Street, 100 High Street is located less than a five-minute walk from South Station, the Financial District’s primary stop on the Red Line, which connects Cambridge and the Central Business District. The granite and glass tower offers three floor plate sizes ranging from 11,000 square feet to 30,000 square feet, appealing to a diverse set of tenants. The large floor plates available in the lower floors are expected to be especially appealing to technology firms.
CBRE Global Investors plans to invest heavily in the property by upgrading building systems and adding its signature 5-Star Worldwide service and amenity program, including conference facilities and outdoor meeting areas.
“Boston, which is in the midst of a robust recovery, is one of the nation’s strongest Gateway office markets,” said Vance Maddocks, President of Strategic Partners U.S. “Changing workforce demographics are fueling urbanization and driving leasing velocity in the Financial District. The startups, tech and communications firms moving downtown are seeking large floor plates, proximity to other tech companies and immediate access to public transit, all of which can be found in 100 High Street.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $92.8 billion in assets under management* as of June 30, 2014. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.