Fish & Richardson nixes One Franklin dealBoston Business Journal - by Michelle Hillman
Print Email Reprints RSS Feeds Add to Del.icio.us Digg This CommentsFish & Richardson PC, the lead ? and only ? office tenant interested in leasing space at the former Filene?s building at One Franklin St. in Boston is backing away from a deal.
Timothy French, the managing principal of the law firm?s Boston office, said the firm has been unable to reach a lease agreement and is concerned whether the project can be built in time.
One Franklin St. is the development site of the former Filene?s building in Boston?s Downtown Crossing shopping district. The project has been on hold since last fall when developer John Hynes announced he was taking a break because he was unable to secure financing in what had become a tightened debt market. Hynes could not be reached for comment.
French said he hasn?t heard from the developers in weeks and is unsure of the status of the project, given it is being redesigned to eliminate a residential plan.
?The likelihood of it being completed in a time that fit with our schedule, which was extremely tight anyways, it just didn?t seem it was going to come off,? said French.
French said the project?s timeline has been stretched to 2011 because of issues related to the elimination of condominiums. Fish & Richardson?s lease expires in 2010.