State Street Signs 90,000 SF at Heritage Landing
Cushman & Wakefield of Massachusetts today announced State Street Bank leased 90,018 square feet at Heritage Landing in North Quincy, Massachusetts. In collaboration with Peter Brown, Director of Leasing at Campanelli, the Cushman & Wakefield suburban team of Mike Frisoli and Matt Morgan, with Cushman & Wakefield Downtown brokers Dave Martel and Molly Davis, serve as the exclusive leasing agents for the property. The tenant was represented by Andy Majewski, Nat Kessler, Andy Hoar and Tim Howe from CBRE-New England. Two years after purchasing Heritage Landing, Campanelli has successfully transformed the property into one of the fastest-leasing buildings south of Boston, signing more than 230,000 square feet to 14 tenants in a building that had previously been vacant for five years.
State Street, a Boston-based financial services giant, signed a long-term lease – the largest in Quincy this year – at 1 Heritage Drive with expected occupancy in late 2015.
“State Street’s commitment comes on the heels of significant leasing momentum at Heritage Landing,” said Cushman & Wakefield Executive Vice President Michael Frisoli. “State Street’s new lease at 1 Heritage Drive and institutional-quality tenancy validate North Quincy – and Heritage Landing in particular – as an exceptional place to attract employees and accommodate growth.”
Heritage Landing is a three-building urban waterfront campus located seven miles south of Downtown Boston in North Quincy, Massachusetts. Further situated within a five-minute walk of the MBTA Red Line, Boston’s South Station transit hub is just four stops, or 20 minutes, away. Comprising Heritage One, Heritage Two and Heritage Point (formerly 108 Myrtle Street), the campus has undergone substantial renovations by Campanelli since the Braintree-based company took ownership in 2013. The multi-million dollar amenities package, which was unveiled in 2014, includes a full service café by Sebastian’s, new fitness center and upgraded lobby interior at Heritage Two. Campanelli’s in-house construction arm, Campanelli Construction, is currently working on lobby upgrades at 108 Myrtle, now known as Heritage Point.
Heritage Landing has proven to be the fastest-leasing office building south of Boston – with an excess of 230,000 square feet leased in the last 17 months, more than 65% and 25% of all leases signed in Quincy and 128 South, respectively, have been at Heritage Landing in the last year. Its appealing amenities, proximity to the Hub and rental rates that are half of those in Downtown Boston have drawn many tenants from the city including the Massachusetts Teacher’s Association, which will be moving into its new 48,000 square foot home at Heritage Two this fall.