The NonProfit Center, developed by Third Sector New England, renewed its lease with Boston Senior Home Care, Inc., which has expanded its presence in the office building for another 11 years after reworking its current lease and terminating another lease and sublease early.
Starting Oct. 1, Boston Senior Home Care will take 21,619 square feet on the entire 5th floor and the majority of the 8th floor of the office building, according to Third Sector’s commercial real estate advisor, Newmark Grubb Knight Frank (NGKF). The tenant currently occupies a total of 20,246 square feet through a 2nd floor sublease and two leases for space on the 7th floor and the full 5th floor with the landlord.
“This new transaction simplifies what was a complex lease scenario and gets the tenant into more efficient space,” said NGKF Managing Director Jeremy Roy. “This outcome furthers the landlord’s mission for the center to foster social and economic change by providing a state-of-the-art, cost-effective and collaborative work environment for non-profit organizations in an urban locale next to a variety of public transportation options.”
In its 10th year, The NonProfit Center at 89 South Street brings together organizations committed to pursuing social and economic change in a shared, inspirational space. Built in 1899 as the cornerstone of Boston’s Leather District, The NonProfit Center is a nationally recognized historic landmark and underwent a LEED-certified restoration by Third Sector New England. Home to 36 social change nonprofits, The NonProfit Center is conveniently located just a block from the South Station transportation center and is close to the Massachusetts State House, Boston City Hall, restaurants and downtown Boston.
Mr. Roy noted that 2,200 square feet remains available on the 8th floor.
Ted Wheatley of JLL represented Boston Senior Home Care in the transaction.
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. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets. For further information, visit www.bgcpartners.com.