Shorenstein Properties, LLC leases 55,000 s/f at Center Plaza to Localytics

Center Plaza, 101 Arch Street - Boston, MA

Boston, MA Shorenstein Properties, LLC, a privately-owned real estate firm, active nationally in the ownership and management of class A office properties, has leased 55,000 s/f of office space at Center Plaza to Localytics, the lifecycle engagement platform for web and mobile applications. Localytics will be moving to its new space in March 2016 from 101 Arch St., where it currently occupies 18,000 s/f. Shorenstein was represented by CBRE/New England’s team led by Andy Hoar, president/co-managing partner, John Butterworth, executive vice president/partner, Kevin Kennedy, first vice president, and Suzanne Brown, assistant vice president. Localytics was represented by T3 Advisors’ team led by Greg Hoffmeister, managing director, and Jon Frisch, vice president.

Andy Hoar, CBRE/New England

John Butterworth, CBRE/New England

Kevin Kennedy, CBRE/New England

Suzanne Brown, CBRE/New England

“Center Plaza’s characteristics present an attractive option for leading technology firms in search of quality office space in the downtown market,” said Kennedy. “Offering an abundance of natural light, high ceilings, and large, efficient floor plates that can accommodate continued growth on a single floor, Center Plaza provides an ideal new home for Localytics. We are seeing a tremendous uptick in tech companies seeking well-positioned and highly-accessible space in downtown Boston, over other areas such as Kendall Sq. in Cambridge. Center Plaza delivers an outstanding location on this side of the river, and with the ongoing renovation/rebranding campaign, we are confident that the building will be even more attractive as a top tenant destination going forward.”

Center Plaza, 101 Arch Street - Boston, MA

Center Plaza is a 717,128 s/f mixed-use complex situated at the intersection of Beacon, Cambridge, and Somerset Sts., directly across from City Hall Plaza. The building features a 900-foot retail promenade along Cambridge St. offering diverse shopping and dining options, a 575-car parking garage, and convenient access to public transit, including the Red, Green, and Blue Lines.

The news of Localytics’ expansion comes on the heels of a momentous year for the company. In the first six months of 2015, Localytics raised $35 million in funding, announced predictive app marketing features, analytics for the Apple Watch and new email marketing capabilities, acquired Splitforce (an automated optimization tool) and became the first app lifecycle engagement platform to be named a Twitter Mobile Measurement Partner. More recently, Localytics was named number 274 on Inc. Magazine’s Annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies.

Shorenstein will soon commence a significant capital improvement program that will include new office amenities such as a bike room and conference center, as well as renovations to the street-level interior lobbies, exterior walkway/breezeway areas, and rooftop. Shorenstein has retained Boston-based firm CBT Architects for the Center Plaza enhancement program.

Founded in 1924, Shorenstein Properties LLC is a privately-owned real estate firm active nationally in the ownership and management of high-quality office properties, with offices in San Francisco and New York.  Since 1992, Shorenstein has sponsored eleven closed-end investment funds with total equity commitments of $7.9 billion, of which Shorenstein committed $648.7 million.  Shorenstein uses its integrated investment and operating capabilities to take advantage of those opportunities which, at the particular time in the investment cycle, offer the most attractive risk-adjusted returns.  Investments have included ground-up developments, asset repositionings and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures.  These funds have invested in properties totaling 53.5 million square feet in transactions with a gross investment value in excess of $12.1 billion.

Localytics is a lifecycle engagement platform for web and mobile apps. Our integrated approach to app marketing and analytics helps customers automate and optimize every stage of the app lifecycle to keep their users engaged and to deliver more personalized experiences. Localytics is used in more than 37,000 apps on more than 2.7 billion devices by companies such as ESPN, eBay, Fox and The New York Times. Localytics is headquartered in Boston, MA with offices in San Francisco and London. Investors include Sapphire Ventures, Foundation Capital and Polaris Partners.