South Station Tower | South Station Air Rights | Downtown

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www.bostonglobe.com

South Station Tower close to landing anchor tenant: JPMorgan - The Boston Globe

It would be one of the biggest lease deals of the year as Boston’s office market slowly recovers from COVID-era remote work.
www.bostonglobe.com www.bostonglobe.com

In what would be another in a recent string of bright spots for downtown Boston’s beleaguered office market, JPMorgan Chase & Co. is close to leasing around 250,000 square feet of office space at the newly built tower above South Station, the Globe has learned.

The financial services behemoth will be consolidating some local offices, including its wealth management office at 50 Rowes Wharf, into the 51-story skyscraper, according to four real estate industry sources speaking on condition of anonymity.
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KCasiglio said:
www.bostonglobe.com

South Station Tower close to landing anchor tenant: JPMorgan - The Boston Globe

It would be one of the biggest lease deals of the year as Boston’s office market slowly recovers from COVID-era remote work.
www.bostonglobe.com www.bostonglobe.com
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Good to see it looks like they might be landing some big tenants. I wonder if JPM is getting a good deal on the lease lmao given the general commercial weakness I keep hearing about. No longer have a globe subscription so I can't see if they wrote about that.
 
It's more a consolidation from disparate groups and legacy offices from past acquisitions, all being rolled into a new single space in SST:

Beyond Rowes Wharf [wealth management in 50 RW], JPMorgan occupies offices at 451 D St., 160 Federal St., and One Liberty Square. It’s not immediately clear which of these facilities will move to South Station. The 125,000-square-foot office at 160 Fed office is a former First Republic Bank space that JPMorgan took over after acquiring most of the failed bank’s assets in 2023. The One Liberty Square office is less than 10,000 square feet and has been home to investment technology company 55ip, which JPMorgan Asset Management took over in late 2020.

No terms on pricing etc. Lease isn't signed yet either, so sounds like a leak from someone involved in late stage negotiations.

Great news!
 
kdmc said:
Yes. The warm brick red and the smokestacks are out of place a charmingly unique way. It really adds to the view from 93N in my opinion.
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I get it. It's weird and wonderful.
 
chrisbrat said:
I'm always surprised that Vicinity smokestack building is still there. It's so gross.
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It is a pretty important little power plant. It provides the steam for the 29 miles of district steam power looping around downtown Boston. Provides HVAC via steam for over 230 big buildings and institutions in the city (Tufts Medical Center, MGH, ....).

Vicinity is working on decommissioning the building, and replacing the steam generator with an electric steam boiler powered from off shore wind. But the mini power plant site itself is a hazmat mess -- no one wants to touch the cleanup to develop the site.
 
Jeremi said:
There's a whole neighborhood there waiting to be built.
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Yes, but you have to clean up the hazardous waste first. Those are MA DOT parcels, and MA DOT won't bite the bullet and pay for the cleanup to make them developable. Also the Albany/Lincoln parcel is partial air rights, which also adds cost and complications.
 
Justbuildit said:
Well that parcel to the west is underway for the very real, not at all fake vaporware Peebles project 1 Kneeland/Zero Greenway. Shouldn't be long now!

1 Kneeland Street - The Peebles Corporation

peeblescorp.com peeblescorp.com
www.utiledesign.com

Zero Greenway - Utile

www.utiledesign.com www.utiledesign.com
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Last activity by this team was in 2022, when they were selected as the bidder. And it better be called Zero Greenway, because 1 Kneeland is a real building up the street (as in a taken location).

Peebles, famous for failed air rights development attempts. (MassDOT Parcel 25 is about 25% air rights).

No sign of any activity in BPDA planning?
 
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