Tishman Speyer Adds Iron Mountain as Tenant at One Federal Street | Announcements | Tishman Speyer


Tishman Speyer Adds Iron Mountain as Tenant at One Federal Street

Boston, Massachusetts November 13, 2012

Tishman Speyer, one of the world’s leading real estate developers and owners, announced today that it has signed information storage and management company Iron Mountain to an 11-year lease for more than 129,000 square feet at One Federal Street in Boston. The lease takes effect in July 2013 and covers the building’s 6th and 7th floors, along with a portion of the 5th floor. The location will serve as the new home of Iron Mountain’s corporate headquarters, which the company has kept in Boston since 1986.

One Federal Street is a 38-story office tower totaling 1,118,355 rentable square feet with a below-grade two-story parking garage. It is located in Boston at the heart of the city's financial district. The property has excellent accessibility to all of the major highways and the city's public transportation. One Federal Street is steps away from the newly constructed Rose Kennedy Greenway, Faneuil Hall Marketplace and many other tourist attractions.

Iron Mountain, which joins a prestigious tenant roster that includes Bingham McCutchen LLP, Aon, Credit Suisse, JP Morgan Chase, Oppenheimer, US Bank and Leerink Swann, will benefit from a number of major capital improvements recently completed at the property. They include the renovation of the lobby and ground floor retail space; the creation of a 5,000-square-foot multi-purpose amenity space on the 9th floor that opens to a private roof garden; and the installation of floor-to-ceiling windows on the 5th – 7th floors to enhance office use and the overall tenant experience.

One Federal Street recently achieved LEED® Gold for Existing Buildings™ certification under the U.S. Green Building Council’s LEED rating system, as well as an ENERGY STAR rating of 79.

“As a developer and investor of world-class office properties, we work hard to meet the office space needs of world-class companies on four continents,” said Brian Chaisson, managing director for Tishman Speyer. “Iron Mountain certainly is such a company and we are pleased to welcome them to One Federal.”

“We sought a location that would allow us to keep our corporate headquarters in Boston as well as a building that would enable us to design an environment conducive to employee collaboration and engagement,” said Sarah Abrams, Iron Mountain’s senior vice president of global real estate. “We like the large floors at One Federal Street, are excited for our move there, and believe our employees will love the new space.”

Iron Mountain was represented in the transaction by Alexander Dauria of Jones Lang LaSalle.

About Tishman Speyer (www.tishmanspeyer.com)
Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world's most prestigious corporations to meet their office space needs. As of June 30, 2012, the firm has acquired, developed and/or managed a portfolio of over 123 million sq. ft. and more than 94,000 residential units with a total value of over USD $60.3 billion since its founding in 1978. Signature assets include New York's Rockefeller Center and the Chrysler Center, Sao Paulo's Torre Norte, Ventura Corporate Towers in Rio de Janeiro, and the TaunusTurm project now under construction in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Brasília, Chengdu, Gurgaon, Hyderabad, Paris, Rio de Janeiro, São Paolo, San Francisco, Shanghai and Tianjin.