MOVING CLOSER TO THE LEASING ACTION
December 8, 2017
Tenant advisory brokerage Cresa is moving closer to much of the leasing action in Boston with its selection of a new 11,881-square-foot headquarters at Atlantic Wharf.
And it’s following the lead of many of its clients who have redesigned their offices for collaborative working styles, with plans by South Boston-based architects TRIA to reduce the number of private offices and expand formal and casual meeting spaces. The plans reflect demand for more impromptu meeting and huddle areas, said Adam Subber, a managing principal for Cresa.
The firm’s 50 employees will move in mid-2018 from 200 State St., where Cresa has leased approximately 11,000 square feet since 2004. Cresa did some limited interior work four years ago, but the disruption convinced executives that a permanent move would make more sense than additional renovations, Subber said.
“It would have required a six-month construction process, which would force us to move out and move back in,” Subber said. “Everyone looked at each other and said, ‘We can’t do that again.’”
Cresa’s familiarity with the downtown office market enabled it to make a quick decision on the five-year lease at Atlantic Wharf, he said.
“This is in our minds one of the compelling buildings and locations, and it’s a rare instance that space even becomes available there,” Subber said.
Boston Properties developed the 31-story Atlantic Wharf office tower in 2011 above the 1897 Russia Building on Atlantic Avenue. The world’s largest tenant advisory firm, Cresa has 50 North American offices.