FOR IMMEDIATE RELEASE
LaSalle Announces Completion of the 110 High Street Lobby at 50 Post Office Square in Boston
Boston, MA (February 07, 2019) – LaSalle Investment Management (“LaSalle”) today announced the completion of the new 110 High Street Lobby project within 50 Post Office Square (50 PO), an iconic Class A office tower located in Boston’s Financial District. Following its purchase of 50 PO in 2015, the firm embarked on a multi-faceted capital enhancement plan that has delivered a dynamic new lobby and High Street entrance designed by Elkus Manfredi Architects, and features a first-of-its-kind 100-foot digital Boston Media Band Experience that is programmed with three digital art modes that react to traffic in the lobby in a variety of fun and interactive ways. Created by ESI Design, the media band is designed to extend the experience of the building into the street, while simultaneously bringing the energy of the city inside.
View renovation images here.
At 110 High Street, LaSalle recently signed a 117,000 square foot lease with Medidata Solutions (NASDAQ: MDSO), a global life science technology company. Members of Medidata’s SHYFT Analytics division will immediately occupy the space. SHYFT Analytics is the leading platform for commercial and real-world data analytics with products designed specifically for the pharmaceutical, biotech, and medical device industry. Medidata and SHYFT have plans to continue to grow in Boston. The building’s occupancy now stands at 100%.
Dave Martel and Gil Dailey of Newmark Knight Frank represented LaSalle, and Lisa Kiell and Kelly Lockberg of JLL represented Medidata Solutions for the lease agreement.
Kristy Heuberger, Head of U.S. Asset Management at LaSalle, commented: “We are very pleased that our 50 Post Office Square/110 High Street building has been able to capture both Boston’s rich history and bright future through its diverse tenant base and unique designs. We are equally excited to welcome our new tenant, Medidata and SHYFT, to 110 High Street as well, as they will bring a vibrant presence and energy that will complement the building’s marquee location in the Financial District.”
Mark Sardegna, Principal at Elkus Manfredi Architects, added: “Elkus Manfredi Architects is honored to contribute to the re-invention and newest chapter of this majestic Art Deco icon. This new environment blurs the lines between indoor and outdoor to showcase the interactive media experience and engage the tenants, visitors and the community. It’s a project that embraces history while stepping with confidence into the future of our city.”
Edwin Schlossberg, President & Principal Designer of ESI Design, said: “Our goal at 110 High Street was to transform this iconic building’s new entrance into a unique experience. The Boston Media Band centers on the flow of the city and activates the lobby, plaza, and surrounding streetscape with movement and personality. The first and largest installation of its kind in Boston, it responds to the presence of people with moments of surprise and delight. By breaking the barrier between inside and outside, the installation broadcasts the building’s new identity to the street and draws people in.”
LaSalle Investment Management acquired 50 Post Office Square in December, 2015. When underwriting the opportunity to acquire the property, the company saw it as a high-quality, substantially-renovated historic office tower that is exceptionally well located in the Boston CBD’s Financial District within immediate proximity to South Station, numerous area amenities and overlooking a popular and heavily-tracked public park. The property offered a compelling value enhancement opportunity to fully renovate the building’s second lobby, at 110 High Street, as a means to lease the remaining 19% of low-rise vacancy.
Originally built in 1947, the building’s high-quality, Art Deco design had great bones and structure to pursue an innovative renovation that would attract large tenants in today’s evolving business landscape. LaSalle crafted and embarked on a renovation plan with a vision to create a building within a building. The new entrance would have its own identity and offer access on the High Street side of this highly recognized building.
LaSalle partnered with best-in-class vendors to execute the re-imagined 110 High Street Lobby, including:
Elkus Manfredi Architects
Digital Media Band
Dimensional Communications, Inc
Arbitrarily Good Productions
Halvorson Design Partnership
McNamara / Salvia, Inc.
C3 – Commercial Construction Consulting, Inc.
Van Deusen Associates (VDA)
About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $65 billion of assets in private and public real estate property and debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
About Elkus Manfredi Architects
Elkus Manfredi Architects is a full-service international design practice focused on architecture, master planning, urban design, historic preservation and interior architecture. Its diverse portfolio of work includes planning and design for environments of work, living, learning, play, and innovation. The firm has a legacy of design excellence and is recognized worldwide for its work in mixed-use place-making that fosters community, connection, sustainability and strategic workplace solutions. For more information, visit https://www.elkus-manfredi.com/, and Facebook, Twitter, Instagram, and LinkedIn.
About ESI Design
ESI Design transforms places into dynamic experiences that engage audiences, solve complex challenges, and deliver lasting results. From our roots reinventing the Brooklyn Children’s Museum into one of the country’s first interactive museums, ESI Design has defined the field of experience design for over forty years, fundamentally changing how people connect with brands, organizations, cultural institutions and, most importantly, each other. A collaborative, in-house team of designers, strategists, storytellers, technologists, artists, and problem-solvers work with you from day one, until it’s done. ESI Design seamlessly weaves the physical and digital worlds together to create immersive experiences with enduring impact. Recent clients include eBay, the Ellis Island National Museum of Immigration, Comcast, PNC Bank, Beacon Capital, and the Edward M. Kennedy Institute for the U.S. Senate. For more information, connect with ESI Design: Twitter, LinkedIn, Facebook, Vimeo, YouTube and Instagram. (www.esidesign.com)
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document.
LaSalle Investment Management
Elkus Manfredi Architects