Boston’s Equity Office Properties has chosen Trammell Crow Co. to lease 300,000 square feet of space at 75-101 Federal St.
Equity Office Properties has chosen Trammell Crow Co. as its leasing broker for 300,000 square feet of office space at 75-101 Federal St. in Boston. Trammell Crow will be charged with filling a hole left by the merger, and then move of, Nixon Peabody and Hutchins & Wheeler to 100 Summer St.
“We had a little competition, we’ve been engaged in discussions and we’re really just getting started,” Trammell Crow Co. principal Bob Delaney said last Thursday afternoon.
Delaney and three others at Trammell Crow – Chuck O’Connor, Barry Hynes and John McHugh – will handle the leasing chores.
The properties consist of the 101 Federal St. tower, which has 250,000 square feet of space currently available for lease, and a historic art deco building at 75 Federal St., with 50,000 square feet available. The two buildings contain a total of 810,000 square feet.
Nixon Peabody previously occupied the largest chunk of space becoming available, 210,000 square feet on floors 4 to 14 at 101 Federal St.
‘A Wide Net’
Hynes said that the leasing group will focus on traditional services, such as financial law or consulting firms, although a per-square-foot price has not yet been discussed.
“We’re casting a wide net, that’s for sure,” he said.
Brokers said that the available space at 75-101 Federal St. could accommodate a large, medium or small tenant.
“The big block available on floors 4 to 14 – there’s a lot of demand for that in today’s market,” Delaney said.
The buildings, joined by a common lobby, sit at the corner of Federal, Franklin and Devonshire streets, in the heart of the city’s Financial District. The properties have 24-hour security, a key-card access system and underground valet parking with more than 195 spaces.
Maryann Suydam, regional senior vice president of Equity Office Properties, said that Equity, which rarely hires third-party leasing agents, will continue to be involved in the leasing efforts and its partnership with Trammell Crow is a long-term strategy on penetrating market share.
Trammell Crow was chosen for the job from a short list after putting out a request for proposals and receiving interest from several candidates for the leasing duties, according to Suydam.
Equity is among the city’s largest landlords. Its portfolio features about 55 buildings in Greater Boston, including Rowes Wharf and 125 Summer St., for a total of about 9.1 million square feet if space.
In the first two quarters of this year, Equity had 800,000 square feet of lease activity, 60 percent of which was comprised of new customers, Suydam said.
Equity Office Properties is one of the largest office building owner-managers and real estate investment trusts in the country. It controls more than 700 properties, or 124 million square feet, in major metropolitan cities, including San Francisco, Los Angeles, Chicago and Atlanta.
