Newmark is pleased to announce Executive Managing Director David Martel, Senior Managing Director Tim Bianchi and Managing Director Alison Cavanaugh recently completed a 53,912-square-foot lease to Salsify, Inc. at 101 Federal Street in Boston, Massachusetts on behalf of the owner, 75-101 Fed Owner, L.L.C (“Ownership”). Salsify, Inc. is relocating to 101 Federal Street from 3 Center Plaza, where the firm currently leases 30,000 square feet.
Originally built in 1988, 101 Federal Street is a 561,542-square-foot, 31-story, Class A office tower offering stunning views of Boston Harbor and Back Bay. The building is part of 75-101 Federal Street (“75-101”), a premier, 826,338-square-foot office complex consisting of two buildings interconnected by a shared, lobby: 75 Federal Street and 101 Federal Street. Located in Boston’s dynamic downtown district one block west of Congress Street, the complex is in close proximity to Post Office Square and South Station and is surrounded by retail and restaurants. 75-101 features modern on-site amenities such as a cycling studio, café, large floor plates, flexible workspace, a state-of-the-art, 10,000 square-foot, tenant-only fitness center, a newsstand/sundry shop and a 196-space below-grade valet parking garage.
The most recent 53,912-square-foot lease at 101 Federal Street was signed by Salsify, Inc., a Boston start-up which aims to make e-commerce sites easier to manage. Due to the company’s growth and need for additional space, Salsify, Inc. chose to relocate to 101 Federal Street from 3 Center Plaza, where it will nearly double its square footage. Martel, Bianchi and Cavanaugh represented Ownership in the lease negotiations and will continue to market the remaining availability. Charles Kavoogian of CBRE-NE represented Salsify, Inc.
“We are pleased to have represented Ownership in this significant lease transaction,” said Bianchi. “Salsify, Inc. is a dynamic and growing firm, which is the perfect fit for 101 Federal Street. The building’s premiere location and modern amenities make it ideal for companies like this- on the rise.”
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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