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News release

BOSTON, MA

Flatley Company Selects JLL as Leasing Agent for The Schrafft’s Center


BOSTON, MA, 28 May 2014 – The Flatley Company, a Braintree, MA-based real estate development company, has appointed JLL as the exclusive leasing agent for The Schrafft’s Center located at 529 Main Street in Charlestown, MA. The Schrafft’s Center is a one million-square-foot, waterfront business campus with unmatched access and amenities. In addition to being a historical icon, the campus is ideally positioned within the future of Charlestown’s expansion of the Sullivan Square District and revitalization of Rutherford Avenue.

The Schrafft’s Center campus sits on the Boston Harbor. In addition to connecting to the Boston Harbor Walk, the Schrafft’s boat pier and boardwalk, amenities include abundant free surface parking, large cafeteria with outdoor seating, convenience store, a Fitcorp-operated fitness center and yoga room, a Bright Horizons childcare center, and several outdoor seating and shared conference facilities. The Schrafft’s Center’s tenant spaces feature: high ceilings, large and efficient floor plates, industrial chic aesthetic, and views of the city, Harbor, and Mystic River.  The Schrafft’s Center is adjacent to the Sullivan Square MBTA Station. The Flatley Company provides tenants with free shuttle service to the T. The campus is easily accessed from I-93, Route 1, Storrow Drive and Memorial Drive.

To further enhance the tenant experience, The Flatley Company has engaged CBT Architects to address several improvements, including: a refreshed lobby with cafe in Building One, way-finding and signage, landscaping, a state-of-the-art conference center, and additional outdoor seating and meeting spaces along the boardwalk and pier, that will give tenants an even greater variety of spaces to collaborate, recruit, celebrate, and touch down. 

“The Schrafft’s Center is iconic in the Boston area,” said Flatley Company Vice President Bill Bush, “and has a long history of sustained occupancy. We look forward to working with the JLL team on leasing our upcoming available space. We believe that the Schrafft’s Center offers a great alternative to tenants who are being squeezed out of other higher rent areas such as Cambridge, Downtown Boston and the Seaport District.”

According to JLL Executive Vice President John Osten: "We are excited to be working with The Flatley Company, a company that consistently demonstrates its commitment to high quality properties and its Tenants. This project will continue to expand the leasing success of The Schrafft’s Center footprint in Charlestown.”
Joining John on the leasing and marketing team is Executive Vice President Peter Bekarian, Vice President Molly Heath, Executive Vice President Tom O’Regan, Managing Director Matt Daniels, Vice President Michael Potter, and Senior Vice President Steve Steinberg. The architect for the renovation of 529 Main Street is CBT. The landscape architect is Carol Johnson Associates.

The Schrafft’s Center is the largest city campus in Boston’s urban ring. The buildings are: Building One, the six-story headquarters facility anchored by Partners HealthCare overlooking the Sullivan Square rotary; 465 Medford Street, a former NABISCO baking factory consisting of four stories and 190,000 square feet anchored by DentaQuest; The Powerhouse Building, a 22,000-square-foot three-story brick and beam facility that adjoins Building One; and 425 Medford Street, a former Domino sugar processing facility with 280,000 square feet of office, lab, and R&D space in permitting for redevelopment. The Schrafft Center site was purchased by Flatley Company in 1984.

 About The Flatley Company Founded in 1959 by the late Thomas J. Flatley, The Flatley Company grew to become one of the largest real estate development companies in the northeast. In its 55 year history, the company has developed, owned, and managed over 24 million square feet of real estate including office/industrial, multi-family apartments, shopping centers, hotels, and long-term health care facilities. The company’s current portfolio includes: the Schrafft Center; Braintree Hill Park in Braintree, MA; and development sites in Crown Colony, Quincy, MA. The Flatley Company is recognized as a leader in providing high quality commercial office space for a wide variety of businesses across all major market sectors. For further information, visit www.flatleyco.com.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com.