Skanska USA Sells 101 Seaport to Union Investment

Press release 4/12/2016 8:00 AM EST

Skanska USA announced today the sale of 101 Seaport, a 17-story, 440,000-square-foot LEED® Platinum office building, developed and constructed by Skanska, and home to the company’s Boston office.

Skanska announced today the sale of 101 Seaport.

The sale comes less than three years after Skanska broke ground on 101 Seaport, Seaport Square’s first office tower, and secured a substantial lease with PricewaterhouseCoopers (PwC) to occupy the highly efficient office building for its New England headquarters. Skanska’s ability to self-finance its development projects, coupled with its fully integrated services such as its in-house construction team, enabled 101 Seaport’s delivery to the market in record time.

“The building, its elegance, and its environmentally conscious design, both inside and out, reflect our passion for the community, the Seaport and the City of Boston.  101 Seaport has been a catalyst for the transformation of the neighborhood and we look forward continuing to deliver the most sustainable and efficient buildings along Seaport Boulevard with the completion of Watermark Seaport and the development of 121 Seaport,” said Charley Leatherbee, Executive Vice President of Skanska USA Commercial Development. 

101 Seaport draws more than 3,000 professionals to the district each day as home to PwC, Red Thread/Steelcase and Skanska. This activity reflects Skanska’s vision for this neighborhood as a destination with a mix of uses in Boston.

“After the acquisition of The Godfrey Hotel and the Converse Headquarter at Lovejoy Wharf, we are pleased to have strengthened our foothold in the important and economically very stable gateway market of Boston with the acquisition of this trophy building at 101 Seaport Boulevard,” said New York City-based Tal Peri, Head of U.S. East Coast & Latin America at Union Investment Real Estate GmbH.

Newmark Grubb Knight Frank’s Robert E. Griffin, Jr., Edward Maher, and Matthew Pullen represented Skanska on the sale. Bill Anderson and David Martel, also from Newmark Grubb Knight Frank, represented Skanska on the leasing.

Developed and built to Skanska’s high environmental standards, 101 Seaport employs advanced technologies to enhance the workplace experience. Some of these technologies include: green roofing, a rainwater harvesting system, and a chilled-beam cooling system – the first of its kind in Boston. As a result of Skanska’s sustainable innovations, 101 Seaport uses 50 percent less energy and 40 percent less water than the typical Boston building.

The building offers 10-foot high ceilings with floor-to-ceiling windows, which harness the unobstructed views of Boston Harbor and downtown Boston as well as introduce substantial natural light to the tenant space.  The common spaces are finished with locally sourced material such as stone quarried from Massachusetts and reclaimed wood from former piles from the Boston Harbor.

The office building includes an on-site fitness center equipped with advanced exercise machines, a fitness studio, and locker rooms to further increase employee morale and productivity. Additionally, 101 Seaport is located in the midst of green space, walking distance from Q-Park, Seaport Square Green, and the Harbor Walk. Harbor Way, an expansive pedestrian promenade will pass between 101 and 121 Seaport and offer retail spilling into a 70-foot wide pedestrian corridor. The MBTA’s Silver Line is close to the building, while South Station is within a short walking distance.

101 Seaport is one of three of Skanska’s developments on Seaport Boulevard. Other projects include 121 Seaport, a neighboring office tower with ground-floor retail targeting LEED® Platinum currently under construction, and Watermark Seaport, a recently opened luxury residential tower with ground-floor retail which Skanska developed in partnership with Twining Properties. When completed, Skanska’s developments along Seaport Boulevard will make up Boston’s most sustainable row of office and residential buildings.  Skanska is also developing 1350 Boylston, a 17-story, 183,000-square-foot residential tower at 1350 Boylston Street in The Fenway.

Skanska USA Commercial Development invests in and develops customer-focused, highly sustainable office and multi-family properties in Boston, Houston, Seattle and Washington, D.C. Since 2009, Skanska has invested approximately $1.5 billion in nearly a dozen projects in its select markets. Skanska self-finances the majority of its projects and serves as the construction manager. The group has developed projects for clients such as Brooks Sports, PwC and Tommy Bahama. Each Skanska USA Commercial Development project aims to achieve a minimum LEED® Gold certification.