BOSTON– Synergy, a real estate investor, operator, and manager, announced that it has acquired 101 Arch Street, a premier office tower located in Downtown Boston.
101 Arch Street, a 21-story, 406,928-square-foot office tower, marks a significant addition to Synergy’s robust portfolio of over seven million square feet.
Situated at the intersection of Arch and Summer Street, 101 Arch Street offers unparalleled amenities and accessibility. The property features entrances on both Arch and Summer Street, providing convenient access for tenants and visitors. The building’s prime location atop of the Downtown MBTA T station also ensures excellent commuter connectivity, with direct access to the Red, Orange, and Green lines along with onsite parking garage.
Constructed in 1989, 101 Arch Street underwent a comprehensive renovation with upgraded amenities in 2020 designed by CBT Architects. The interior renovation included a 20,000-square-foot lobby repositioning, a new conference center and tenant lounge, and a state-of-the-art fitness center. The design incorporated elements of its historic charm while modernizing its functionality, reflecting the building’s past through subtle nods to its history, including references to the area’s former grandeur, and iconic landmarks like Kennedy’s Department Store.
The property is currently 82% leased with 34 tenants, including Rockland Trust, KP Law & Thorton Thomasetti, reflecting its strong leasing history and attractiveness to a diverse range of tenants. With over $22 million invested in capital improvements over the past decade, the property strengthens Synergy’s portfolio of best-in-class assets.
“Adding 101 Arch Street to our portfolio aligns perfectly with our strategy of investing in high-quality assets in prime locations,” says David Greaney, CEO Of Synergy. “With its modern design, exceptional amenities, and unmatched commuter accessibility, 101 Arch Street represents a prime opportunity for Synergy to create value for our tenants and stakeholders.”
In addition to its outstanding amenities, 101 Arch Street boasts various prestigious sustainability certifications. The building is LEED Gold certified, WiredScore Gold certified, and has been Energy Star certified since 2009, a testament to its commitment to environmental responsibility and energy efficiency.
The deal was brokered by JLL, led by Coleman Benedict, Senior Managing Director, Investment Advisory Platform Leader, Chris Angelone, Senior Managing Director, Scott Carpenter, Senior Director, Capital Markets, Brooke Howard, Associate, Capital Markets, Scott Tully Jr., Analyst, Capital Markets, Americas, and Rachel Bliss, Analyst.
Synergy has a successful history of envisioning and repositioning properties in the New England region, recently acquiring 179 Lincoln Street in Boston, which is one of the largest Boston office sales since the pandemic began. Additionally, Synergy is redeveloping the largest office-to-residential conversion in Massachusetts at Chestnut Place in downtown Worcester, MA. The two-building property is set to bring 198 new market-rate apartments and 22 affordable condominiums to the region.
