Tishman Speyer Signs New Tenant in Boston's Largest Office Lease of 2015

Tishman Speyer Signs New Tenant in Boston's Largest Office Lease of 2015

Commercial News » Boston Edition | By Michael Gerrity | July 13, 2015 8:30 AM ET

Global property developer and investor Tishman Speyer has just announced that Houghton Mifflin Harcourt is relocating its corporate headquarters to 125 High Street, a class A office property in Boston.

Under the terms of the 16-year lease agreement, the firm will take over the entire 5th through 8th floors in the High Street Tower, which totals 162,000 square feet of space. The transaction is one of Boston's largest office lease deals this year.

Houghton Mifflin Harcourt is a leading provider of Pre-K-12 content, services and technology solutions. The company has six international locations and 20 offices across the United States. It expects to relocate from the Back Bay by early 2017.

"We are seeing lots of positive leasing activity in the Financial District submarket, which is steadily becoming a destination for technology, media, advertising and information (TAMI) tenants, as well as professional, legal and financial services firms," said Tishman Speyer Managing Director Samuel Schaefer. "This transaction further demonstrates the diversification of the Financial District, as well as the strength of Boston's local economy."

125 High Street is a three-building, 1.5-million square-foot development located within Boston's bustling Financial District.  The complex, which encompasses a full city block bounded by High, Oliver, Purchase and Pearl Streets, includes three structures: the Oliver Street Tower, the High Street Tower and 131 Oliver Street. In all, the property covers 2.5 acres connected via an 11-story glass atrium, with beautiful views of downtown and the harbor. It also hosts a 766-space parking garage consisting of five underground levels.

Houghton Mifflin Harcourt will benefit from direct access to 25 acres of public gardens along the Rose Kennedy Greenway created by the Big Dig project, as well as nearby highway ramps. The property is situated in close proximity to Interstate 93, the Massachusetts Turnpike and South Station.

125 High Street recently achieved LEED Gold for Existing Buildings certification under the U.S. Green Building Council's LEED rating system.

Houghton Mifflin was represented in the transaction by Gil Dailey of Cushman & Wakefield.

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