A computer technology company is close to inking a deal with Lincoln Property Co. for about 100,000 square feet of space at newly renovated 320 Summer St. in Boston’s Fort Point district.

Banker & Tradesman has learned from multiple industry sources that Woburn-based LogMeIn, a computer technology company, is under agreement to relocate its headquarters into to building that Lincoln Property owns with ASB Real Estate Investments.

"It’s a significant transaction because … it’s an example of rising rents in the Seaport," one source said. "They’d have to be getting rents in the high $30s to low $40s a square-foot, and the low $40s is probably more accurate. In the Financial District, they could have found the same size space in the mid-$30s a square-foot. But they want to be [in the Seaport area] because that type of space doesn’t exist in the Financial District, the open floor plan. And they want to be in that area."

Additionally, Converse, which is in the market for about 150,000 square feet, is seriously considering setting up shop in the Seaport. Monster is out for about 125,000 square feet; Zipcar and eBay are both looking for about 60,000 square feet; and EnerNOC, an energy efficiency firm, is seeking about 100,000 square feet. All are looking in the Seaport area, among other places.

Computer Tech Co. Eyeing 100K SF In Boston’s Fort Point

by James Cronin time to read: 1 min
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