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Skanska Announces First Tenant at 121 Seaport

Press release 9/7/2017 10:30 AM EST

Tech Giant PTC Moves Global Headquarters to Developer’s Renowned Elliptical Tower in Boston’s Seaport District

121 Seaport

Skanska announced today that global technology company PTC has signed a 250,000-square-foot lease for its unique elliptical tower, 121 Seaport, and will move its global headquarters to the Seaport District in early 2019.

PTC, a global technology provider of technology that transforms how companies design, manufacture, operate, and service the “things” in the Internet of Things (IoT), is the building’s first tenant, and will occupy two-thirds of the building, taking the top floors from nine to 17. Newmark Grubb Knight Frank represented Skanska as the developer and owner of the project, and Cresa represented PTC on this deal.

"Boston is excited to welcome PTC's global headquarters to our city," said Mayor Martin J. Walsh. "This is a win for the region as PTC looks to retain its existing talent while continuing to build their brand and company within our growing innovation economy in Boston."

“We are thrilled to welcome PTC to 121 Seaport. PTC is an innovative company that reflects our vision for this building as a symbol of innovation and sustainability,” said Charley Leatherbee, head of Skanska’s Commercial Development operations in Boston. “We designed 121 Seaport as a highly flexible, ultra-efficient building with amenities and collaborative indoor and outdoor spaces that we knew would attract market-leaders like PTC. Their move to Boston’s Seaport affirms the neighborhood’s attractiveness to companies looking for a forward-thinking environment that offers employees a perfect mix of work, play and convenience.”

“121 Seaport’s design, amenities and location made the selection of our new global headquarters an easy one,” said PTC CEO Jim Heppelmann. “We believe our choice sends a strong message to our more than 6,000 employees, our customers, and our partners that PTC will continue to be on the leading edge of technology and breakthroughs that will shape the way we all live and work.”

PTC will benefit from 121 Seaport’s unparalleled features including:
• virtually column-free floor plates that create flexible workspaces for customization;
• elevated 10-foot ceilings;
• panoramic waterfront views of the Boston Harbor and the city skyline;
• outdoor terraces;
• private fitness center;
• conference and events center;
• 24/7 hotel-style concierge;
• two floors of prime retail;
• direct access to neighboring parks, amenities and transportation.

In moving, PTC expects to enhance its ability to attract and retain the talent required to maintain the company’s 30-year heritage of company innovation. The company also expects its new headquarters will serve as a premier destination for customers and partners who come from around the world to experience PTC technology hands on in its Corporate Experience Center. With more than 6,000 employees worldwide, PTC expects its new headquarters will include employees across all company operations, including executive leadership, customer success, research and development, sales, marketing, finance and legal teams.

121 Seaport is a 17-story, 400,000-square-foot, Class-A office building targeting LEED® Platinum certification, coming on line in the first quarter of 2018. The office tower sits in the heart of Boston’s booming Seaport District, across from District Hall and Seaport Square Green, on Boston’s most sustainable block, which is also home to Skanska’s 101 Seaport and Watermark Seaport developments. Designed by CBT Architects, the building’s distinctive design will enhance the area’s architectural landscape, maximize the skyline visible from Seaport Square Green, and reduce solar heat gain when completed.

121 Seaport’s three-story lobby faces Boston Harbor and opens onto Harbor Way, a future expansive 70-foot-wide pedestrian retail promenade located between 101 and 121 Seaport with 20,000-square-feet of tree-lined open space and an interactive walking museum that will commemorate Skanska’s #SeaportShipwreck discovery.

The transit-oriented building is adjacent to the MBTA’s Silver Line, and walking distance from South Station. It offers indoor bicycle parking spaces, underground, secured parking spaces, and is a block away from I-93 and I-90 access ramps. The neighborhood has blossomed with retail and wellness options just steps away, including SoulCycle, Starbucks, By Chloe, CVS, Blue Hills Bank, Shake Shack, the ICA, Yo! Sushi, Equinox, Gather, and Ocean Prime, offering employees the prime atmosphere for work and play.

Since launching its commercial development business in the U.S. in 2009, Skanska has invested more than half a billion dollars to self-finance smart, sustainable developments in Boston. The company has developed two additional buildings in the Seaport: 101 Seaport, the North American headquarters for PwC; and Watermark Seaport, a 300,000-square-foot, LEED Gold residential building with ground-floor retail, which is more than 95 percent leased. Skanska also developed 150 Second Street, a lab and office building in Cambridge, MA, and is currently developing The Harlo, a luxury residential tower at 1350 Boylston Street in the Fenway, where both Tatte Bakery & Café and Oath Craft Pizza will be opening this Fall.

Skanska has built and restored New England’s landmarks for more than 70 years, from Gillette Stadium and the Novartis Institute for Biomedical Research, to the Longfellow Bridge. Skanska continues to leverage its local knowledge and global expertise to shape the region's institutional, commercial, healthcare and life science facilities, as well as to enhance or expand essential transportation and energy infrastructure.

Last updated: 5/23/2017