BOSTON, MA 50 FRANKLIN STREET OFFICE CONDOMINIUM FOR SALE +/- 12,916 RSF | 2ND FLOOR EXECUTIVE SUMMARY Boston Realty Advisors has been retained to solicit offers for NORTH END the sale of an office condominium consisting of the second FINANCIAL DISTRICT (2nd) floor at 50-60 Franklin Street in Boston, MA. 50 Franklin Street is a four story boutique office building in the heart of Downtown Crossing. The building is currently separated into STATE SOUTH STATION ten (10) condos divided by floor with the 2nd floor available GOV’T CENTER for purchase. Currently configured as a multi-tenanted floor, it presents a unique opportunity in the market for a user to owner/ occupy all or part of the premises, ranging from 910-12,916 ★ SF. This opportunity presents users with the ability to stabilize DOWNTOWN CROSSING occupancy costs in a high rent growth market while benefiting from the tax deductions involved in owning real estate. DOWNTOWN CROSSING 50 Franklin Street is located in the heart of Boston’s Downtown PARK ST Crossing (DTX) neighborhood. The neighborhood has CENTRALLY LOCATED experienced a renaissance over the last decade spurred by WITH A VIBRANT MIX OF CHINATOWN the Millennium Tower project. The 60 story super-luxury Old & New Architecture condominium project is anchored by Roche Bros supermarket, Old Navy and Primark. 50 Franklin Street has benefitted with the Live+Work+Play Lifestyle addition of dedicated public space steps from the front door Millennials, Gen-Xers & Empty-Nesters 50 FRANKLIN STREET and the Business Improvement District Overlay which maintains the area and programs public events. Small but impactful BOYLSTON additions like the Tontine Crescent Tactical Plaza located on the curbside of 50 Franklin Street are new and creative urban elements introduced to the area in the recent years. Additional BEACON HILL development and redevelopment projects over the last few years continue to bring vibrancy and appeal to neighborhood making it a sought after area to live, work, and play. BOSTON COMMON Downtown Crossing is aptly named as it is the main hub for Boston’s transportation network. The area is serviced by the city’s main subway lines (Orange, Green, Red and Silver) as well as multiple bus lines. The neighborhood averages over 100,000 passengers on a daily basis. In addition, the neighborhood is serviced by multiple public parking garages including the 33 Arch Street garage which offers 815 parking spaces immediately TONTINE CRESCENT TACTICAL PLAZA adjacent to 50 Franklin Street. Centrally located in Boston’s Downtown Crossing, the Tontine Crescent Tactical Plaza is part of an initiative of the City of Boston to reclaim excess roadway for pedestrian use. The office condo is currently demised into six (6) suites ranging Located on the sunny side of the historic Franklin Street designed by Charles Bullfinch it is an ideal location for a public plaza. The temporary design tests the roadway geometry for in size from 910 – 3,449 SF. Two suites totaling 4,002 SF are a new permanent park that is bordered by a bike lane on one side and reduces traffic to currently leased with varying lease expirations. The remaining one lane. A row of tall planters with abundant planting helps to create privacy an and oasis 8,914 SF is currently vacant, ready-to-go office space. The for people to escape from the bustle of the city. flexibility of the suites allows them to be combined or remain The surface of the plaza has been painted with a bold checker pattern with large scale as separate spaces. Potential buyers have the ability to occupy symbols of tree canopies that an architect might use, making it vibrant and highly visible. Within the plaza, brightly colored, moveable tables and chairs give visitors a place to portions of the floor while generating rental income from the gather and relax. remaining suites. As your company’s needs change over time the Tontine Crescent is a temporary plaza that, if successful, will be replaced with a permanent floor can easily be reconfigured to accommodate the changes. park in the near future. KEY DRIVERS INVESTMENT HIGHLIGHTS “AAA” DOWNTOWN LOCATION Downtown Crossing is one of Boston’s leading office and retail markets. The building is in close proximity to the Financial District, Boston Common, Beacon Hill, Back Bay and Government Center allowing incomparable access to some of the best restaurants, shopping, entertainment venues, and tourist attractions in Boston. This is a superb location across the street from the Millennium Tower – one of the tallest towers in Downtown Boston. RARE USER OPPORTUNITY This is a rare user opportunity for its size with the ability to accommodate users from 910-12,916 SF. The existing flexible floor plates allow for owner/ users to either occupy all of the floor or only part of the floor and maintain the existing in place RARE LARGE FLOOR IN-PLACE INCOME & income. Users can take advantage of the tax benefits of ownership, hedge against future fluctuations in rent and secure low interest rates available through the SBA 504 Program. PLATE CONDO UPSIDE POTENTIAL OPPORTUNITY SUPPLY CONSTRAINED MARKET Boston’s Financial District experienced an historic year in 2019 recording the lowest vacancy rate and highest office rents in 20 yrs. In many areas of the city, rents achieved the highest levels in history with the Class B office market seeing average asking rents pushing $60 per SF. Demand from the technology and life science sectors to be in Boston is expected to continue resulting in Boston being one of the strongest office markets for years to come. EPICENTER OF DEVELOPMENT The Downtown Crossing area is expected to continue to grow with multiple large scale development projects under construction or planned. Winthrop Center is currently under construction and will be Boston’s 4th tallest building. The 690-foot-tall-tower will include 800,000 SF of office space, 321 residential units and a public “Great Hall” connecting Winthrop Square to Federal Street. Recently completed 1 Milk Street and 399 Washington Street are full building redevelopments that continue to transform the Washington Street corridor. FLEXIBLE FLOOR PLATE TRANSIT ORIENTED ACCESS, ACCESS, ACCESS SUITE SIZES FROM & AMENITY RICH Aptly named Downtown Crossing, the building is located at the intersection of the Hub’s major transportation lines: Red Line, Green Line, Orange Line, Silver Line and multiple bus routes. In today’s live, work, play economy employers are very 1,000 - 5,000 SF sensitive to how easily current and future employees can get to work. Downtown Crossing boasts the best access in the city ensuring employees are able to get to work from every part of the state. BURNHAM BUILDING 1 MILK STREET WINTHROP CENTER PROPERTY SPECIFICATIONS FLOOR PLAN STACKING CHART 2ND FLOOR VACANT FLOOR 4 910-3,499 SF For Sale Not for Sale (Office) Not for Sale (Retail) FLOOR 3 FLOOR 2 +/-12,916 SF (For Sale) HAWLEY STREET FLOOR 1 VACANT Retail 1,966-5,415 SF FRANKLIN STREET BASEMENT WILLIAM H. CATLIN, JR. JASON S. WEISSMAN ROBERT F. LECLAIR BONNY DOORAKIAN Managing Director & Sr Partner Founder & Sr Partner Managing Director & Partner Managing Director & Partner 617.850.9606 617.850.9608 617.850.9614 617.850.9655 [email protected] [email protected] [email protected] [email protected] JUSTIN D. HARLOW MALCOLM NACHMANOFF Senior Associate Associate 617.850.9613 617.850.9635 [email protected] [email protected] Boston Realty Advisors ENTREPRENEURIAL AGILITY. INSTITUTIONAL EXPERTISE. 745 Boylston Street | Boston, MA 02116 | (T) 617.375.7900 | (F) 617.536.9566 | BRAdvisors.com © Copyright Boston Realty Advisors. All rights reserved. The information contained here has been obtained through sources deemed reliable but cannot be guaranteed as to its accuracy. Any information of special interest should be obtained through independent verification..