11:00 AM
Newmark Grubb Knight Frank (NGKF) represented Harmonix in the relocation of its office at 625 Massachusetts Avenue in Cambridge, MA to 40 Broad Street in downtown Boston. JLL represented the building owner T-C 40 Broad Street LLC. Harmonix signed a 24,615-square-foot lease at the 11-story office and retail building following a strategic analysis of local options.
Needing a more efficient floorplan, Harmonix, one of the world’s leading independent game development studios, selected NGKF to assist with finding the firm a more flexible space. Founded in 1995, Harmonix is best known for creating blockbuster franchises like Rock Band and Dance Central. The 115-employee firm will occupy the entire 7th floor of its new Boston location.
NGKF’s Ryan Weber, Senior Managing Director for the Cambridge market, along with Senior Managing Director Jason Cameron and Director Joe Pearce represented Harmonix in the search for its new location. Weber, Cameron and Pearce assisted in the firm’s site selection analysis, ultimately securing space at 40 Broad Street based on its central location in the financial district, proximity to public transportation and ability to maintain operations on one floor. JLL Senior Vice President Brad McGill, Executive Vice President Tom O’Regan, and Vice President Kelly Lockberg negotiated on behalf of T-C 40 Broad Street LLC. Harmonix will move into the 11-story, 285,000-square-foot office building in August of 2015.
“We are pleased to have assisted Harmonix in finding a new office in Boston to meet their current space requirements,” said NGKF’s Weber. “Vacancy rates are down significantly in Cambridge, so Boston currently offers more quality options available to the market. It also offers an abundance of amenities with typically larger floor plates, making it a perfect fit for our client.”
“First, I can’t say enough about the commitment, patience, and expertise of the NGKF team in helping us find our new home, ” said Chris Rigopulos, COO of Harmonix. “Harmonix is thrilled to be moving across the river to 40 Broad St. The City of Boston has done a tremendous job revitalizing the downtown area, and the new space will be a major upgrade for us. We are excited to settle in and start enjoying our new surroundings.”
“Harmonix is a great tenant and a perfect fit for 40 Broad Street,” said JLL’s McGill. “Tenants here enjoy the benefits of all the exciting improvements to the building and the neighborhood.”
Located in the epicenter of downtown Boston, 40 Broad Street is a modern, mid-rise tower occupying an entire block. Bordered by Broad, Milk, India and Central streets, the building overlooks the Rose Kennedy Greenway and is a block from Faneuil Hall and the waterfront. The modern, mid-rise tower, originally known as the Boston Insurance Exchange Building, was built in 1923 and designed by Coolidge & Shattuck of Boston (now Shepley Bulfinch), one of the nation’s most prominent architectural firms. The building features a contemporary glass entryway; a 12,000-square-foot, two-story lobby with wood and glass panels and stone flooring; and Class A finishes throughout. Other tenants include Mullen, Public Consulting Group, Advent Software Inc., and Gesmer Updegrove. Warehouse Bar and Grill is at street level.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.