Lee and Blount of Colliers International handle 37,056 s/f in leases at 55 State Street
Racepoint Group and Digital Influence Group have recently executed a sublease for 37,056 s/f of office space at 53 State St. Racepoint Group and Digital Influence Group will relocate its corporate headquarters from 404 Wyman St. in Waltham in June 2012.
The Colliers International brokerage team of Tad Lee and Kristin Blount represented Racepoint Group and Digital Influence Group in the transaction. Christopher Cuddy and Peter Conlin of CB Richard Ellis New England represented the sublandlord, Fidelity Investments.
Built in 1985 and renovated in 1998, 53 State St., also known as Exchange Place, provides over one million s/f of office space in a 40-story tower. The building's lobby is a seven-story glass-enclosed atrium with shops, restaurants, banking facilities on street and concourse levels. An underground garage provides parking for the property.
Exchange Place is located on the corner of State St. and Congress St. in the city's Financial District.
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Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.