Millennium Partners, an internationally recognized residential developer of luxury mixed-use urban properties, including the award winning Ritz Carlton Hotel and Towers in downtown Boston, has appointed Cushman & Wakefield as the exclusive retail leasing agent for the Millennium Tower/Burnham Building project. Located in Boston’s Downtown Crossing at the site of the former Filene’s Department Store, the project consists of the landmark 1912 Burnham Building and a contemporary, mixed-use tower that will rise 625 feet into the Boston skyline. Cushman & Wakefield will serve as retail leasing agent for approximately 182,000 square feet of the proposed 1.4 million square foot development. Millennium Partners will celebrate the beginning of construction of this $630 million project with an official groundbreaking in June 2013.
Presenting retailers and consumers with a harmonious balance of old and new, Millennium Partners’ project will feature a total of 182,000 square feet of retail space on the project’s lower four levels, including 76,000 square feet at Millennium Tower and 106,000 square feet at the adjacent Burnham Building. Ideally situated in the city’s retail epicenter, tenants will become a part of the Burnham Building’s rich history and Millennium Tower’s bold future as Boston’s most high-profile modern structure.
The Millennium Tower/Burnham Building project offers a unique and compelling confluence of attributes: prominent location, abundant consumer base, world-class design, and the opportunity for best-in-class retailers to call a landmark location home. Centrally located at a public transportation hub within easy walking distance of all five MBTA “T” lines and the South Station commuter rail terminal, this preeminent retail location boasts a pedestrian count exceeding 51,000 persons per day, making it the most heavily trafficked corner in Boston, comparable to pedestrian activity in New York City’s famed Fifth Avenue and SoHo shopping districts.
The Cushman & Wakefield team representing Millennium Partners will be led by Gene P. Spiegelman, Kazuko Morgan, and Emily Ou.
Cushman & Wakefield Vice Chairman Gene Spiegelman said, “We are privileged and excited to represent the most prominent real estate development in the City of Boston, and once again open the doors for retailers and consumers to return to the landmark Filene’s store site, rejuvenating this vital 24/7 city-sector and setting the stage for a bold new retail and living experience. We’re offering retailers the rare opportunity to once again call this historic location home and take part in this exciting period of Boston’s dynamic growth.”
Millennium Partner’s restoration of the 1912 Burnham Building will present retail tenants with a noble façade and novel features originally envisioned by Daniel Burnham, then the most prominent retail merchandising architect in the nation. This complete restoration will include new systems and technologies constructed within the historical shell, including high ceilings, regular and sparse column spacing, large “Chicago-type” display windows for iconic branding opportunities, providing retailers with a unique ability to advertise their brands to the tens of millions of people that come to Downtown Crossing each year. As the only centrally located freestanding retail property in Boston to offer floor-plates spanning 55,000 square feet across both buildings, combined with tremendous flexibility to lease the property both vertically and horizontally, Millennium Tower and the adjacent Burnham Building will provide large format retailers with a rare and desirable opportunity to be located within the heart of the city.
Millennium Partners recently welcomed Arnold Worldwide as its lead office tenant. The creative agency plans to take occupancy of its new 125,000 square-foot global headquarters in September 2014. The Burnham Building offers 75,000 square feet of remaining first-class office space for prospective tenants. The Millennium Tower/Burnham Building project isexpected to achieve LEED Silver Certification.
Tenant occupancy is currently slated for September 2014 at the Burnham Building and June 2015 at Millennium Tower.
“This project provides a unique opportunity that is ideally suited to dynamic retailing,” noted Anthony Pangaro, principal at Millennium Partners/Boston. “It combines an exemplary landmark building with a modern glass counterpart in Boston’s most prominent location. Exquisite residential condominiums are coupled with a floor plan for forward-looking creative office and retail businesses on a site that provides an instantly recognized tower configuration. We look forward to welcoming prospective tenants as the Millennium Tower/Burnham Building project becomes part of Boston’s treasured past and promising future.”
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
About Millennium Partners
Founded in 1991, Millennium Partners is an internationally recognized residential developer of luxury mixed-use properties, responsible for dramatic showcase properties in some of the nation’s most dynamic urban locations. Millennium Partners has created an unparalleled portfolio of 27 properties that bring together luxury condominiums, state-of-the-art entertainment complexes, world-class spa and fitness facilities including The Sports Club/LA, Class-A office space, and five-star hotel brands, including The Ritz-Carlton Hotel Company LLC and Four Seasons Hotels and Resorts. http://millenniumptrs.com/