BOSTON – Synergy announced that it has acquired 179 Lincoln Street, a newly repositioned, 221,474-square-foot office building in Downtown Boston.
The five-story, 82% leased, LEED Silver-certified asset comprises an entire city block along The Rose Fitzgerald Kennedy Greenway (The Greenway), steps from South Station and directly across from on/off ramps for Interstates 90 and 93.
The deal was brokered by Newmark, led by Robert Griffin, co-head of US Capital Markets, Edward Maher, Executive Vice Chairman, Matthew Pullen, Vice Chairman, James Tribble, Executive Managing Director, Samatha Hallowell, Managing Director and William Sleeper, Senior Financial Analyst.
179 Lincoln Street’s first-class repositioning represents a merging of the asset’s historical Beaux-Arts exterior and brick-and-beam interior with fully modernized tenant spaces, common areas, and on-site amenities. The award-winning building (recipient of the Boston Preservation Alliance’s 2009 Achievement Award) offers tenants a creative office profile that is virtually unrivaled among Downtown Boston’s already-limited brick-and-beam sector—and exactly the type of building that companies are using as “currency” to entice their employees back to the office.
David Greaney, CEO of Synergy, commented, “179 Lincoln Street offers a strategic location, combined with its rich history and modern amenities, making it an exceptional asset regarding the tenant experience. As we continue to expand our Boston portfolio, we look forward to continuing to deliver outstanding value to our tenants and stakeholders through this acquisition.”
179 Lincoln Street, situated in Boston’s South Station submarket, features large, flexible floor plates spanning approximately 43,000 square feet, with ceiling heights reaching up to 14’9” to the underside of the deck. The property strategically accommodates a diverse tenant roster, including reputable firms such as Smartsheet, Wood Mackenzie, XPO Logistics and Mad*Pow.
Completed in early 2023, 179 Lincoln Street’s repositioning transformed its lobby and central core plus the common areas on each of its five floors into light-filled, welcoming public spaces and functional collaboration areas for a range of group sizes and work styles. The approximately $3 million project also unearthed 179 Lincoln Street’s rich history as a shoe factory and exposed some of its earliest design elements, including its original terra cotta floors.
179 Lincoln Street’s architect and interior designer was Atelier Cho Thompson, an award-winning women-and-minority-owned firm that oversaw the reimagining of 8,000 square feet of shared spaces. The property has been awarded a series of accolades, including the 2023 Interior Design Best of Year Award, AIA Connecticut’s Design Award, Dezeen’s 2023 longlist for best office spaces across the world, and was recognized with the prestigious Best in Show at the 2023 IIDA New England Design Awards.
Synergy has a successful history of envisioning and repositioning properties in the New England region. Currently, 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 apartments to the region.
