Bank of America is reducing its office footprint at 100 Federal St. in Boston by 137,000 square feet, as landlord Boston Properties reconfigures space in the 37-story tower to make room for new anchor tenant Putnam Investments.

In January, Putnam leased 250,000 square feet in the office tower for a new headquarters, in a relocation from 240,000 square feet at One Post Office Square. Putnam will occupy 11 floors at 100 Federal St. beginning in 2018.

Boston Properties previously announced that it was “restacking” existing tenants in the 1.3-million-square-foot tower to make space for a major new tenant, which was announced as Putnam in January. Another sizeable tenant, Wellington Management, has renewed its lease for 156,000 square feet at 100 Federal St. and will relocate within the tower, Boston Properties President Douglas Linde said Thursday in a conference call to discuss the REIT’s fourth-quarter financials. The transactions will generate $6 million in additional revenue, Linde said.

Boston Properties acquired 100 Federal St. from BofA in 2012 for $615 million, and the bank signed a long-term lease for 787,000 square feet. A BofA spokeswoman said the reduction in space would not be accompanied by any job cuts.

BofA is the second major financial institution with a recent transaction downsizing office space in the Financial District.

BNY Mellon recently renewed a lease for 250,000 square feet at One Boston Place, a 41-story tower owned by TIAA-CREF and Cambridge Ivanhoe. BNY Mellon’s previous lease was for 362,000 square feet.

An unspecified number of staff will relocate to BNY Mellon’s 385,000-square-foot 135 Santilly Highway office complex in Everett, spokesman Joseph F. Ailinger Jr. said.

Financial institutions including banks and insurers were still the most active industry sector with over 523,000 square feet of leases signed in the central business district during 2015, according to JLL research. The number does not include the Putnam deal, which was finalized in early January. Tech companies ranked second, with 333,000 square feet of lease deals.

Boston Properties is in negotiations with tenants for occupancy of one floor at 200 Clarendon, the 60-story tower previously known as the Hancock Tower, Linde said, leaving 90,000 square feet available on floors 45 through 47. It also has 170,000 square feet available on the lower floors, which it has rebranded as 120 St. James with a strategy of attracting tech companies.

Bank Of America Shrinking Footprint At 100 Federal St.

by Steve Adams time to read: 1 min
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