121 Seaport Square

PTC Relocates to 250,000 SF Global Headquarters in Boston’s Seaport District

Cresa and Margulies Perruzzi Architects lead project team to deliver PTC’s transformational, technology-rich workplace at 121 Seaport Blvd.

The Boston office of Cresa, the world’s largest occupier-focused commercial real estate firm, and Margulies Perruzzi Architects (MPA), one of New England’s most innovative architectural and interior design firms, today announced the completion of a new 250,000 SF global headquarters for PTC Inc.(PTC), a global provider of technology that transforms how companies design, manufacture, operate, and service things in a smart connected world. PTC relocated its headquarters from Needham, Mass., to 121 Seaport Boulevard, a newly constructed 17-story, 400,000 SF office building in Boston’s Seaport District. The building recently received the USGBC’s Leadership in Energy and Environmental Design (LEED) Platinum certification, its highest level of sustainability achievement.

PTC’s new technology-rich headquarters is a key part of the company’s business transformation, enhancing PTC’s profile and serving as a premier destination for employees, customers, and partners to experience PTC’s technology. At the heart of PTC’s new transformational headquarters is the Corporate Experience Center (CXC), an interactive showcase for PTC’s innovative technology, including its ThingWorx® industrial Internet of Things and Vuforia Augmented Reality (AR) platforms.

To facilitate the move to a new headquarters, PTC engaged Cresa as a global partner across multiple service lines, including site selection, lease administration, transaction management, workplace strategy, and project management. Cresa accomplished a six-month process in 30 days with fast-tracked negotiations that secured PTC’s 18.5-year lease for 250,000 SF at 121 Seaport. As the first signed tenant, PTC leased 63 percent of the building, where the company will house 1,000 of its 6,000 worldwide employees. PTC will occupy the building’s top nine floors with direct access to the roof deck from the top floor and access to a common area with an outdoor terrace on the third floor. Cresa also advised PTC on workplace strategy and facilitated PTC’s shift toward an activity-based, open office plan and free address concept for its workspace.

“Our move to Boston’s Seaport District signals a continued focus on innovation through forward-thinking technological advancements, as well as an evolution of our workplace strategy to anticipate the technology and workforce of the future,” said Eric Snow, senior vice president, corporate communications, PTC. “This workspace is intended to be transformational in every way: the urban location, workplace design, and abundant use of technology will provide our employees with the best possible work environment to thrive and innovate, all while offering our customers a state-of-the-art venue for experiencing our technology. We are thrilled to make this exceptional space our new home.”

MPA’s design for PTC’s headquarters was strongly influenced by the unique, elliptical-shaped glass tower of 121 Seaport. To maximize views of Boston Harbor and downtown Boston, the open office design places conference rooms and meeting spaces around the building core on each floor, and arranges bench seating with ergonomic sit-to-stand desks in a radial fashion that aligns with the oval shape. More than 200 technology-enabled collaboration and huddle rooms support PTC’sactivity-based workplace, which has no private offices and no assigned seats, encouraging employees to work where they want. Open-seating collaboration areas and touchdown spaces anchor the north and south end with a variety of seating styles. On every floor, a themed work café/coffee space, each dubbed “The Hive,” offers employees a diverse experience for casual meetings, socialization, and quiet time. Gigantic curved LED light fixtures span the arc on each floor, with colored lights on the 17th floor providing a dramatic view from the street at night.

With its convergence of digital and physical features and a layout that encourages employees and customers to co-mingle, the 17th floor is at the forefront of PTC’s new headquarters design. The world-class CXC provides visitors with a customized, hands-on tour to experience a world powered by PTC’s Industrial Internet of Things, Augmented Reality, Product Lifecycle Management, and 3D CAD technologies. This is made possible through a combination of state-of-the-art meeting space and more than 20 experiential exhibits showcasing customer and partner innovations. These exhibits dynamically demonstrate PTC’s technology by using Augmented Reality, Virtual Reality, and even a ride-on experience to bring the solutions to life. In addition, an adjacent R&D lab and maker space allow customers to engage with PTC engineers as they develop the next generation of innovative technology. A large café called “The Common” faces the CXC on the other side, providing plenty of seating for both employees and visitors. A large, open stair with a glass head-house connects The Common to the landscaped roof deck with outdoor seating.

In addition to the LEED Platinum-certified 121 Seaport building, PTC’s headquarters is expected to achieve LEED Gold certification. The company is also implementing the FitWelSM program for employee health and wellness.

American Realty Advisors Acquires Seaport Building for $455 Million

Los Angeles based, American Realty Advisors has acquired the building at 121 Seaport Square for $455 Million.

The property features a 17-story, 450,000-square-foot tower located in the heart of Boston's Seaport District. 121 Seaport features 400,000 square feet of Class A office space above a two-story, 50,000-square-foot retail podium. 121 Seaport is 100%-leased, with tenants including Internet of Things (IoT) technology provider PTC, who has leased 250,000 square feet, and Alexion Pharmaceuticals, who has leased 150,000 square feet. Both tenants will open new global headquarters at 121 Seaport.

Electrical Fit-Out Underway at 121 Seaport

Floors 3 through 11 at 121 Seaport are having electrical work completed including lighting power and fire alarm installation.

The new 17-story, 450,000-square-foot tower located in the heart of Boston's Seaport District. 121 Seaport will feature 400,000 square feet of Class A office space above a two-story, 50,000-square-foot retail podium. 121 Seaport is 100%-leased, with tenants including Internet of Things (IoT) technology provider PTC, who has leased 250,000 square feet, and Alexion Pharmaceuticals, who has leased 150,000 square feet. Both tenants will open new global headquarters at 121 Seaport.

121 Seaport now 100%-leased with Alexion Pharmaceuticals’ lease of 150,000 square feet

Alexion Pharmaceuticals, currently based in New Haven, CT, will open a new 150,000-square-foot headquarters at 121 Seaport, bringing the state-of-the-art elliptical office tower to 100% occupancy. Last week, it was announced that Internet of Things (IoT) technology provider PTC has leased 250,000 square feet at 121 Seaport; the building features 400,000 square feet of Class A office space. Alexion, a global biopharmaceutical company that develops and delivers life-changing therapies for patients with rare diseases, will occupy floors three through eight of 121 Seaport and open its’ new headquarters in June 2018.

Newmark Knight Frank represented 121 Seaport developer Skanska in both Alexion and PTC’s leases; Cushman & Wakefield represented Alexion, and Cresa represented PTC. “121 Seaport now being 100 percent leased demonstrates the Seaport’s arrival as one of Boston’s most sought-after submarkets and business destinations,” said Charley Leatherbee, head of Skanska’s Commercial Development operations in Boston, in a prepared statement. “We delivered a building based on flexibility, innovation, sustainability and efficiency. We are honored that a pioneering company such as Alexion selected our building. Alexion and PTC are moving their respective industries forward in a building that pushes the boundaries of traditional design.” 121 Seaport will open in the first quarter of 2018, and also features 50,000 square feet of prime retail across its’ first two floors.

IoT technology provider PTC opening 250,000-square-foot global headquarters at 121 Seaport

Global Internet of Things (IoT) technology provider PTC, currently based in Needham, MA off of Route 128, will open a new 250,000-square-foot global headquarters across the top half of the new 17-story 121 Seaport elliptical tower in the Seaport District. PTC has leased the space for 18.5 years and will take occupancy in early 2019. Over 1,000 employees across all PTC company operations will work at PTC's new headquarters. With PTC's lease, 121 Seaport is now 63% leased.

PTC employs over 6,000 people worldwide and is a market leader in IoT and augmented reality. The company is developing technology that transforms how companies design, manufacture, operate and service the “things” in IoT. PTC has been headquartered in the Boston area since its’ founding in 1985.

By moving to the Seaport District, PTC aims to enhance its ability to attract and retain talent, following in the recent footsteps of major players including Amazon, Boston Consulting Group, General Electric, PwC and Reebok. “There are few places in the world that can lay claim to as many ‘firsts’ as Boston,” said PTC CEO Jim Heppelmann in a prepared statement. “It is clear that this region has the opportunity to yet again become a beacon of innovation in technologies as disruptive as the Internet of Things and Augmented Reality. At PTC, we aim to be a catalyst to extend Boston’s global reputation as a hub for technology leadership.” The Class A, LEED Platinum-configured 121 Seaport is on target for completion in the first quarter of 2018 and features 400,000 square feet of Class A office space on upper levels, with 50,000 square feet of retail space across two stories at the building’s base.

Curtain wall complete at 121 Seaport, elliptical glass Class A office tower now leasing

121 Seaport’s sweeping elliptical glass curtain wall facade has been fully installed across all 17 of the tower’s floors. The facade features floor-to-ceiling high-performance vision glass, resulting in sweeping views of Boston Harbor and the Boston skyline. 121 Seaport’s elliptical design reduces wind loads and gives the building less direct solar exposure, resulting in 15 percent energy savings. 121 Seaport is built to LEED Platinum sustainability specifications.

Inside 121 Seaport, installation of HVAC utilities is nearing completion in anticipation of tenants moving into the tower. Future 121 Seaport tenants have not yet been announced; office and retail space at 121 Seaport is available for lease. 121 Seaport features 400,000 square feet of Class A office space on upper levels, with 50,000 square feet of retail space across two stories at the building’s base. The following is a photograph of 121 Seaport:

Interactive museum honoring Seaport District history coming to 121 Seaport ground floor, building facade nears completion

Skanska has announced it will construct a new interactive pedestrian museum at Harbor Way, the 20,000-square-foot, 70-foot-wide pedestrian promenade between its’ recently-completed 101 Seaport and under-construction 121 Seaport office and retail developments, honoring the history of the area’s development. The museum will focus upon Skanska’s discovery of an old shipwreck below the 121 Seaport construction site in May 2016, highlighting the landmaking of the Seaport District that caused the ship to be found a few blocks inland from Boston Harbor. The museum will explain how the Seaport District was once a tidal flat, which was filled with land in 1896, burying the old shipwreck. The museum will include facts about the ship’s last journey from Rockland, Maine and artifacts found within the ship, as well as the Seaport District’s initial use as a vast rail yard. "Boston has so many underground secrets and mysteries yet to be discovered. The shipwreck was both a surprise and an eye-opening experience and sheds new light on both the history of Boston's Seaport, and the historic connections between Boston and the rest of New England,” said Joe Bagley, the City of Boston’s Archaeologist.

Skanska’s new museum will be linked to an augmented reality exhibit that will sync to a smartphone application available for download, which will provide a more detailed, virtually guided tour through the museum. Reclaimed wood from the old shipwreck will also be incorporated into 121 Seaport; unique pieces of furniture will be created using the ship’s remnants and will accent the building’s common areas and conference rooms. “The buildings we create should positively impact the community beyond the confines of their own walls. Many of Boston’s neighborhoods preserve the city’s past in compelling ways. With Harbor Way, we are introducing the Seaport’s story in a way that marries Boston’s reverence for preserving history with the Innovation District’s spirit,” said Charley Leatherbee, leader of Skanska’s development operations in Boston. The following is a rendering of the interactive museum:

121 Seaport is nearly fully glassed in, with the 17-story building’s high-performance glass curtain wall installed as high as the 16th floor. Inside the building, concrete pouring and fireproofing spraying are complete on all levels. 121 Seaport will open in 2018, with office and retail space now available for lease. The building will contain 400,000 square feet of Class A office space on upper levels, with 50,000 square feet of retail space at the two-story podium at the base of the building. 121 Seaport will be built to LEED Platinum energy-efficiency standards; a private rooftop terrace will provide stunning views of Boston’s skyline and harbor. The following are photographs of 121 Seaport:

121 Seaport tops off, glass curtain wall installation underway

121 Seaport, an upcoming Class A office building in the Seaport District, has topped off at 17 stories tall, and the building’s high-performance glass curtain wall has been installed as high as the third floor. The curtain wall will provide a 360-degree transparent coating surrounding 121 Seaport, providing sweeping views of Boston Harbor and the Boston skyline. At the building’s center, the construction team is pouring concrete on floors and spraying fireproofing along pillars and ceilings; concrete pouring and fireproofing spraying is complete on lower floors. The 450,000 square foot 121 Seaport will feature 400,000 square feet of Class A office space atop a two-story, 50,000 square foot retail platform. The following are photographs of 121 Seaport:

121 Seaport elliptical office building nearing top off

121 Seaport’s 17-story steel frame has risen nearly 11 floors, and the Class A office and retail building’s signature elliptical shape is now prominently pronounced. Following pouring of interior concrete floors, floor-to-ceiling high-performance glass will be installed across 121 Seaport’s sweeping façade, providing panoramic 360 degree views of Boston Harbor and the Boston skyline. 121 Seaport’s distinctive aerodynamic design will provide a 15 percent energy saving and a significant reduction in wind loads. The following are photographs of 121 Seaport:

121 Seaport steel frame nears midway point

121 Seaport’s 17-story steel frame has risen nearly five full stories, including the future two-story, 50,000 square foot retail podium base. The building’s distinctive elliptical design is beginning to take shape, with uniquely rounded steel beams installed. The following are photographs of 121 Seaport:

121 Seaport elevator core tops off

The 17-story concrete elevator core of 121 Seaport has topped off, and a new project banner has been hung along the core. Construction of 121 Seaport's elliptical structural steel frame will follow imminently. 121 Seaport will feature 400,000 square feet of Class A office space above a two-story, 50,000 square foot retail podium. 121 Seaport is targeting LEED Platinum efficiency certification; the building's elliptical design will result in 15 percent energy savings due to less direct solar exposure. The following is a tweet by Skanska showing 121 Seaport's topped-off elevator core:

The core of 121 Seaport is up & will be one of the most sustainable #office buildings in #Boston when complete. #CRE pic.twitter.com/3UllGrUOSr

— Skanska USA (@SkanskaUSA) September 29, 2016

New interactive website and renderings for 121 Seaport

Skanska has released a new interactive website, 121seaport.com, with leasing information for 121 Seaport, a state-of-the-art 17-story, 450,000 square foot tower under construction in the Seaport District. Additionally, new interior and exterior renderings have been released; these renderings can be found above. 121 Seaport will feature 400,000 square feet of Class A office space above a two-story, 50,000 square foot retail podium.

Pile driving is complete at 121 Seaport, and concrete has been poured on pile caps. Excavation and construction of 121 Seaport's foundation continue in addition to reinforcement installation along the MBTA Silver Line tunnel, which runs underneath the project site. The following are photographs of 121 Seaport:

January 15, 2016

Pile driving is in progress at 121 Seaport, and excavation of 121 Seaport's foundation has begun. Reinforcements are being installed along the unearthed roof of the MBTA Silver Line tunnel. The following are photographs of 121 Seaport:

Skanska is hard at work preparing the 121 Seaport site for construction! When complete, 121 Seaport promises to be "a workplace built on human-centered design," an inspiring layout that will undoubtedly inspire future tenants to "think forward, work forward [and] more forward" together. The Boston Globe's Tim Logan reports that there is strong interest amongst potential office tenants in leasing space at 121 Seaport. The following are photographs of 121 Seaport:

We are excited to observe construction of Skanska USA's 121 Seaport office tower! The building broke ground on July 9th, 2015.