Synergy Acquires 101 Arch Avenue in Boston

BOSTON– Synergy, an actual property investor, operator, and supervisor, introduced that it has acquired 101 Arch Avenue, a premier workplace tower positioned in Downtown Boston.

101 Arch Avenue, a 21-story, 406,928-square-foot workplace tower, marks a big addition to Synergy’s strong portfolio of over seven million sq. toes.

Located on the intersection of Arch and Summer season Avenue, 101 Arch Avenue gives unparalleled facilities and accessibility. The property options entrances on each Arch and Summer season Avenue, offering handy entry for tenants and guests. The constructing’s prime location atop of the Downtown MBTA T station additionally ensures glorious commuter connectivity, with direct entry to the Crimson, Orange, and Inexperienced strains together with onsite parking storage.

Constructed in 1989, 101 Arch Avenue underwent a complete renovation with upgraded facilities in 2020 designed by CBT Architects. The inside renovation included a 20,000-square-foot foyer repositioning, a brand new convention middle and tenant lounge, and a state-of-the-art health middle. The design integrated components of its historic appeal whereas modernizing its performance, reflecting the constructing’s previous by means of delicate nods to its historical past, together with references to the realm’s former grandeur, and iconic landmarks like Kennedy’s Division Retailer.

The property is at present 82% leased with 34 tenants, together with Rockland Belief, KP Regulation & Thorton Thomasetti, reflecting its sturdy leasing historical past and attractiveness to a various vary of tenants. With over $22 million invested in capital enhancements over the previous decade, the property strengthens Synergy’s portfolio of best-in-class belongings.

“Including 101 Arch Avenue to our portfolio aligns completely with our technique of investing in high-quality belongings in prime places,” says David Greaney, CEO Of Synergy. “With its trendy design, distinctive facilities, and unmatched commuter accessibility, 101 Arch Avenue represents a major alternative for Synergy to create worth for our tenants and stakeholders.”

Along with its excellent facilities, 101 Arch Avenue boasts numerous prestigious sustainability certifications. The constructing is LEED Gold licensed, WiredScore Gold licensed, and has been Power Star licensed since 2009, a testomony to its dedication to environmental accountability and vitality effectivity.

The deal was brokered by JLL, led by Coleman Benedict, Senior Managing Director, Funding Advisory Platform Chief, Chris Angelone, Senior Managing Director, Scott Carpenter, Senior Director, Capital Markets, Brooke Howard, Affiliate, Capital Markets, Scott Tully Jr., Analyst, Capital Markets, Americas, and Rachel Bliss, Analyst.

Synergy has a profitable historical past of envisioning and repositioning properties within the New England area, not too long ago buying 179 Lincoln Avenue in Boston, which is without doubt one of the largest Boston workplace gross sales because the pandemic started. Moreover, Synergy is redeveloping the most important office-to-residential conversion in Massachusetts at Chestnut Place in downtown Worcester, MA. The 2-building property is ready to deliver 198 new market-rate residences and 22 inexpensive condominiums to the area.

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