Fan Pier Continues to Drive Seaport Construction Boom – Goodwin Procter Moves In

Fan Pier Photo Courtesy: Boston Globe

Goodwin Procter Inks Mega-Lease at Fan Pier Article Courtesy of:  GlobeSt.com - By Paul Bubny Fallon Co.'s Fan Pier mixed-use project will span eight buildings on 21 acres. BOSTON-Law firm Goodwin Procter has signed a letter of intent to anchor a new 500,000-square-foot build-to-suit tower at the Fallon Co.’s Fan Pier mixed-use development on the Boston waterfront. The move to approximately 360,000 square feet of office space will bring more than 860 attorneys and staff to Fan Pier. The announcement of the BTS for Goodwin Procter, which was founded in Boston a century ago, brings the number of Fan Pier high-rises either built or under development to five. Along with the Goodwin Procter building, one office … [Read more...]

Fan Pier Residential Development “It’s all about the View”

John Joseph Moakley Courthouse on Fan Pier Boston

By Paul McMorrow Article Courtesy:  The Boston Globe Joe Fallon is one of Mayor Tom Menino’s favorite developers. He’s also a heretic. Fallon, the Fan Pier developer, is supposed to be the face of Menino’s relentless efforts to rebrand the South Boston waterfront as the city’s Innovation District. So when one of the builders with a stake in the waterfront’s transformation doubts the reach of Boston’s innovation push, it’s worth paying attention. Fallon has built a string of projects that work together to push the South Boston waterfront past its recent pedigree as an urban backwater awash in commuter parking. The only reason the mayor can boast that Boston is home to the nation’s largest private construction project, … [Read more...]

Fallon Co. Expands Seaport District Real Estate Rights on Northern Avenue

Article Courtesy of: Boston Herald Business Today

Fallon snags rights to big Seaport lot By Greg Turner |  http://www.bostonherald.com Article Courtesy of:  Boston Herald Fan Pier’s Joe Fallon has landed development rights to an under-used South Boston waterfront site owned by the city between the Bank of America Pavilion and Harpoon Brewery. View Larger Map The Boston Redevelopment Authority approved the one-year designation for the Fallon Co. at Thursday’s meeting, after the firm approached the city agency with a potential project in the works. Fallon wants to “pursue some of the existing demands that are out there in the commercial real estate community for new build-to-suit opportunities,” said Dennis Davis, the BRA’s deputy director for commercial leasing. The … [Read more...]

Vertex Builds Fan Pier Learning Laboratory and Collaborates with the Boston Public Schools to Enhance Science Education

Vertex Corporate Headquarters - Fan Pier Boston Massachusetts

Vertex commits more than $1 million to support education for BPS students and to prepare teachers for new science education standards -Company dedicates 3,000 square foot learning laboratory at new Fan Pier headquarters to local community- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Boston Mayor Thomas M. Menino today announced a three-year, approximately $1.5 million collaboration with the Boston Public Schools (BPS) to support a range of activities aimed at enhancing science, technology, engineering and math (STEM) education. As part of the collaboration, Vertex will focus on two BPS high schools in South Boston – Boston Green Academy and Excel High School – where programs will aim to increase student participation … [Read more...]

Vertex @ Fan Pier & Growth in Biotechnology Industry Pushes Boston Apartment Market Demand

Fan Pier Boston Apartments

Boston Apartment Market Among Nation's Strongest Article Courtesy of:  Citybizlist Fueled by growth in the biotechnology industry, Boston will be one of the top-performing apartment markets in the nation this year, according to the Marcus & Millichap 2012 Market Forecast. Pharmaceutical companies are rapidly expanding in the area. The redevelopment of the South Boston Waterfront, for example, is attracting Vertex Pharmaceuticals. The company announced plans to relocate their world headquarters to Fan Pier by 2013, a move that will spur economic growth and support demand for Class A apartments in surrounding areas. Additionally, thousands of construction jobs will be created, sparking demand for Class B/C … [Read more...]

Vertex’s decision to leave Cambridge Slingshots 30-year effort to redevelop Fan Pier

Vertex Pharmaceuticals Boston, MA

Building in Boston back on track By Jerry Kronenberg  Article Courtesy of:  http://www.bostonherald.com The Hub’s long chilly commercial real estate market began showing signs of warming up in 2011, with major projects from Eastie to Southie either publicly announced, under construction or completed. “We’re in pretty good shape,” Boston Redevelopment Authority Director Peter Meade told the Herald. “We broke ground on 1,000 units of housing (in 2011) — and the last time we did that was in 2006.” Meade sees June’s groundbreaking of Vertex Pharmaceuticals’ new headquarters at South Boston’s Fan Pier as perhaps 2011’s biggest achievement. Vertex’s decision to leave Cambridge and sign a $1.1 billion South Boston lease … [Read more...]

Vertex on Fan Pier Good News for South Shore Real Estate

Fan Pier Boston - Water Shuttle

Could the news that Vertex Pharmaceuticals is moving from Cambridge to Fan Pier mean good things for the housing market on the South Shore? The news that Cambridge based Vertex Pharmaceuticals will be relocating to Fan Pier in Boston was greeted with predictable applause from city of Boston officials and commercial real estate professionals in the South Boston/Downtown area, but there were cheers from the South Shore as well. Vertex Spokesman Zachry Barber reports that the agreed upon lease term is for 15 years and will include an average annual rent of $72.5 million. The two buildings to be built will total 1.1 million square feet, and will be the new home of thousands of workers. Vertex’s new addresses will be at 50 Northern Ave. … [Read more...]

Vertex Arrives at Fan Pier

John Joseph Moakley Courthouse on Fan Pier Boston

City Celebrates Vertex Groundbreaking at Fan Pier – TK&A, Elkus Manfredi, and Turner Team Up Article Courtesy of: High-Profile Monthly June 2011 Boston – Mayor Menino and the BRA joined with Boston-based development firm, The Fallon Company, headed by President & CEO Joseph F. Fallon, today broke ground on Fan Pier’s second and third office buildings and the future home to the 1.1 million square foot global headquarters for Vertex Pharmaceuticals. This lease is the largest commercial lease in the history of Boston and with construction underway, it’s also the largest private sector construction project in the country. More than 1,000 construction jobs will be created as a result of this new project. Vertex currently has … [Read more...]

Karp, Buza, Hoar, Fallon, Fowler, Hynes & Menino Pivot on Vertex

Fan Pier Boston - Boston Harbor Walk - Seaport District Boston

Spurring Growth on Boston’s Waterfront By SUSAN DIESENHOUSE - Article Courtesy of:  New York Times BOSTON — When Vertex Pharmaceuticals agreed this year to move into an as-yet-unbuilt waterfront office complex, it made history as the city’s largest commercial lease at 1.1 million square feet, with a rent of $72.5 million a year. But more important for the city over all, the huge deal has spurred growth and eased the way for financing other projects. The Fallon Company is developing the $900 million office and laboratory complex for Vertex on Fan Pier, across Fort Point Channel a few blocks from downtown. Vertex, which is based in Cambridge, Mass., also has leased 60,000 square feet in One Marina Park Drive, an office building … [Read more...]

NECN Fan Pier Video

NECN Video - Fan Pier Boston (NECN: This Week In Business) - Peter Meade, Director of the Boston Redevelopment Authority, talks about why this week's groundbreaking for Vertex Pharmaceuticals is truly groundbreaking, record breaking and historic for the city and the waterfront. (TV Diner) - If it's new, TV Diner knows all about it! From Fan Pier, to the former Icarus space in Boston's South End, we found new chefs, and met up with old friends - on this week's incredibly delicious destination! Strega Waterfront & Nick Varano. (NECN) - The largest private sector construction project in the country is underway on Boston's Fan Pier. Paul Guzzi, President of the Greater Boston Chamber of Commerce joins NECN Business with more on … [Read more...]

Boston Seaport District vs. Cambridge – BioPharma Defects to Waterfront

Biopharma Fan Pier Boston

Colliers: Boston lab market in 'transformative' year Boston’s biotechnology and laboratory property market is in the midst of a “transformative” year that has positioned the city as a formidable rival to neighboring Cambridge, long the location of choice among drug developers and researchers operating in Massachusetts. That’s according to a new report by Colliers International, which measured and parsed many of the local biotech community’s leasing trends and development activities since Jan. 1. While Cambridge still boasts the state’s largest cluster of lab and research space, its star has dimmed in recent months amid an aggressive — and, to date, successful — push by Boston officials and developers to bolster and reposition … [Read more...]

Fan Pier Boston News – The Fallon Company

Waterfront Boston - Fan Pier Boston - Seaport District Boston

The Fallon Company breaks ground at Fan Pier for 1.1 million s/f Vertex Pharmaceuticals global headquarters Article Courtesy of:  New England Real Estate Journal Boston, MA The Fallon Company, headed by president and CEO Joseph Fallon, broke ground on Fan Pier's second and third office buildings and the future home to the 1.1 million s/f global headquarters for Vertex Pharmaceuticals. This lease is one of the largest commercial lease in the history of the city and with construction underway, it's also one of the largest private sector construction projects in the country. More than 1,000 construction jobs will be created as a result of this new project. Vertex currently has approximately 1,300 employees in Massachusetts and expects to add … [Read more...]

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