The towering 100 Federal Street is one of the busiest buildings of Boston. The edifice that homes the regional headquarters of the Bank of America will soon be seeing an addition of retail space to its expanse. Plans of a street-level commercial extension are on the anvil for the building.
The building is one of the most significant commercial spaces in the financial district of Boston. The tower was built in 1971 and is the sixth tallest structure in the city. It was nicknamed "the pregnant building" because of its many protruding structures at the base.
Owner of the edifice, Boston Properties Inc., will be adding some extra retail stores at the base of the building to attract more people to the symbolic structure. Boston Properties Inc., purchased the building from The Bank of America in 2012 for around $610 million, However, The bank still occupies around 60 percent of the building's premises, reports Boston Business Journal.
The 100 Federal Street project is still in its initial stages and will gain momentum as more number of residential and retail stores surface in the downtown of Boston, reports Boston Globe.
The triangular space presently lies mostly empty and offers plenty of space for retail stores' operation. It is rumored that most of the space will be filled with restaurants or food chains. However no tenants have been signed aboard yet, reports Boston Business Journal.
Boston Properties Inc. is an eminent building firm of the area. It recently constructed the Atlantic wharf building overlooking the Fort Point Channel. The firm also added a few stores and eateries to the bottom of the Back Bay building- Prudential center Complex.
Boston's commercial real estate scenario is recovering. Many technological giants are also joining the traditional market of law firms and investment banks that invade most offices in the Financial District. Leasing activity in the area has also picked up in the recent past.
