FALL 2012

Below the skyline: landmark propertiesExpanded Boston Skyline Review

131 DartmouthStreet

360,202 s.f.

Two Financial Center

213,000 s.f.

116 HuntingtonAvenue

253,013 s.f.

50 PostOffice Square

779,241 s.f.

Lafayette CityCenter

580,283 s.f.

245 SummerStreet

886,292 s.f.

1 CopleyPlace

292,354 s.f.

4 CopleyPlace

173,309 s.f.

3 CopleyPlace

201,371 s.f.

2 CopleyPlace

256,114 s.f.

470 AtlanticAvenue

392,000 s.f.

255 StateStreet

231,194 s.f.

399 BoylstonStreet

219,670 s.f.

177 HuntingtonAvenue

198,875 s.f.

745 AtlanticAvenue

170,306 s.f.

699 BoylstonStreet

211,271 s.f.

1 Center Plaza

252,000 s.f.

2 Center Plaza

252,000 s.f.

3 Center Plaza

252,000 s.f.

FINANCIAL DISTRICT BACK BAY SOUTH STATION

10

20

30Floor

10

20

30Floor

50 Post Office SquareLocated in the Financial District, and directly overlooking Post Office Square Park, 50 Post Office Square, formerly known as 185 Franklin Street, was sold by Verizon Communications to Commonwealth Ventures and Bentall Kennedy in 2008. The majority of its floors have since undergone a full rehab, and are available for lease. While Verizon remains a tenant on two floors,

Brown Brothers Harriman (BBH) has a letter of intent out for floors seven through 18 for over 300,000 square feet. With a lease set to expire in 2013, BBH will leave 272,000 square feet available at 50 Milk Street.

Lafayette City CenterLafayette City Center is located in Downtown Crossing and has undergone a complete renovation since being built in 1982. State Street Bank will be vacating the building in 2014. As part of their tenancy, they made extensive investments in the infrastructure, which includes a state-of-the-art conference center, amphitheater, cafeteria and back-up generators. State Street will be consolidating their operations into a build-to-suit in the Seaport District. There is significant

tenant interest for this space from the tech and healthcare communities, and from tenants downtown, Cambridge and the suburbs. It is a unique opportunity to find a large block of available space in a 24/7 neighborhood. With new development projects on all sides, including residential, a high-end boutique hotel, restaurants, Sports Club LA and the Ritz, this location offers a full menu of amenities.

This Expanded Boston Skyline Review includes a subset of buildings which do not fall within the definition of the Tower Market Skyline, but are important in the overall direction and momentum of the market.

The set comprises first-class existing buildings, new construction and first class renovations, which have modern infrastructure and compete for larger corporate tenants as well as other Class A tenants.

131 DartmouthStreet

360,202 s.f.

Two Financial Center

213,000 s.f.

116 HuntingtonAvenue

253,013 s.f.

50 PostOffice Square

779,241 s.f.

Lafayette CityCenter

580,283 s.f.

245 SummerStreet

886,292 s.f.

1 CopleyPlace

292,354 s.f.

4 CopleyPlace

173,309 s.f.

3 CopleyPlace

201,371 s.f.

2 CopleyPlace

256,114 s.f.

470 AtlanticAvenue

392,000 s.f.

255 StateStreet

231,194 s.f.

399 BoylstonStreet

219,670 s.f.

177 HuntingtonAvenue

198,875 s.f.

745 AtlanticAvenue

170,306 s.f.

699 BoylstonStreet

211,271 s.f.

1 Center Plaza

252,000 s.f.

2 Center Plaza

252,000 s.f.

3 Center Plaza

252,000 s.f.

FINANCIAL DISTRICT BACK BAY SOUTH STATION

10

20

30Floor

10

20

30Floor

Occupied

Direct available

Sublease available

177 Huntington AvenueIn the Back Bay, Beacon Capital Partners purchased 177 Huntington Avenue from the Christian Science Church this summer. Beacon purchased the 200,000-square-foot, architecturally unique office property for $59.0 million (or $295 per square foot). Wayfair, 177 Huntington’s largest tenant (currently occupying 36.0 percent of the building) is actively looking to expand its footprint.

745 AtlanticIn the South Station submarket and the Leather District, 745 Atlantic is receiving a lot of attention from tenants looking for the “feel” of the Seaport District with greater access to South Station, Back Bay, Downtown Crossing and the Financial District.

Total square feet 6.1 million square feet

Availability 26.2%

Vacancy 16.3%

Average asking rent $41.11/s.f.

Availability in this subset is about eight percentage points higher and average asking rents a little less than four dollars lower than that of low-rise availability in the main Skyline set

There are approximately 526,261 s.f. of transactions pending in this subset of the market which will close by the end of 2012

When completed, the availability will drop to 17.1%

We expect that rents will rise 10–15% in Q1 2013 in this subset of assets

Lafayette City Center

Overview

Looking forward

Boston Office One Post Office Square Boston, Massachusetts 02109+1 617 523 8000

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©2012 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.