21 May 2019 - Boston

Aew Capital Management Commits Another Twelve Years With Additional Space At Seaport East

Pembroke today announced that AEW Capital Management (AEW) has renewed its commitment to Seaport East with a new twelve-year lease…

Pembroke today announced that AEW Capital Management (AEW) has renewed its commitment to Seaport East with a new twelve-year lease, while taking an additional 9,500 sq ft across multiple floors.

This is the third lease term entered into by the real estate investment manager, a long-term tenant since the building’s completion in 2000. AEW was one of the pioneer companies to decide to make the Seaport District its home during the district’s infancy.

With the additional space, AEW will occupy nearly 75,000 sq ft of the 100% leased 16-story property. A 502,000 square feet LEED Gold, Class A tower and the first office building constructed in the now thriving Seaport District, Seaport East is part of Seaport Place, a unique 2.2 million sq ft mixed-use development that also includes Seaport West, the Seaport Hotel, and the Seaport World Trade Center. Pembroke recently filed a project plan with the BPDA for the revitalization of the 705,000 sq ft Seaport World Trade Center on the prominent Commonwealth Pier.

Jeff Furber, Chief Executive Officer of AEW, commented: “Seaport East has served as our Boston headquarters since the building’s completion in 2000. We’ve watched the area grow up around us and look forward to staying here for a third term.”

Jack Clark, Senior Vice President at Pembroke commented: “To secure the recommitment of a long-term and valued tenant is testament to the strong relationship we have built with AEW over almost two decades. It also speaks volumes to the quality of this pioneer mixed-use development—the cornerstone in the transformation of the now booming Seaport District.”

Seaport Place was designed for convenience and connectivity, embracing a modern lifestyle in what is now Boston’s most innovative area. Featuring diverse retail, fitness and restaurant offerings, the campus overlooks the Boston Harbor and includes the rare amenity of two unique public parks: Eastport Park, a 1.6-acre sculpture park with sea-themed artwork, and the elevated Westport Park, which incorporates Seaport Place’s award-winning green roof.

Seaport East’s glass-enclosed Wintergarden atrium provides tenants and visitors daily unique food offerings through Fooda. The property also includes Morton’s The Steakhouse and Cosi, while Seaport West is home to Rosa Mexicano, Blo Blow Dry Bar, Blue State Coffee, Action Kitchen, Boston Private Bank and BURNIN’ by Ray fitness studio.

Pembroke’s Boston portfolio also includes 255 State Street, a signature Class A, LEED Gold mixed-use building overlooking the Harbor and Rose Kennedy Greenway.

William Anderson, Debra Gould and Tim Bianchi of Newmark Knight Frank represented Pembroke in the transaction. John Lashar, John Barry and Ron Friedman of CBRE represented AEW.

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