A real estate battle in Boston’s Fort Point neighborhood has been averted, with Converse leaving the old brick and beam buildings to Zipcar while the sneaker maker seeks space near the Boston Garden, according to several industry sources.
Converse is now seeking office space, about 150,000 square feet of it, at the future Lovejoy Wharf development at 160 North Washington St. in Boston. Converse, which is owned by Nike, has decided it makes sense to be closer to the home of the 17-time (soon to be 18?) NBA champion Boston Celtics, said one industry executive.
Meanwhile, Zipcar is considering multiple locations for its 70,000-square-foot office requirement. Industry insiders tell Banker & Tradesman the car-sharing company is balancing the pros and cons of 51 Melcher St. in Boston’s Fort Point neighborhood, as well as space expected to soon be vacated along Thomson Place in Fort Point in 2014. Thomson Reuters is expected to vacate about 55,000 square feet in September, and then leave another 70,000 to 80,000 square feet in 2014.
Converse could probably have its space built out within 24 months and pay rents in the low $40s per square foot, according to multiple sources. Zipcar’s rent would likely be in the high $30s per square foot.
