A landmark opportunity

53 State Street is a 1.24 million square foot Class A office tower in the heart of Boston. It’s a hard property to miss with a granite and marble-clad facade that integrates seamlessly with the 40-story modern, glass office tower that neighbors it. Once home to the Boston Stock Exchange, it’s steeped in history and primed for the future with a striking 7-story glass atrium and panoramic views of the city.   

When the property became available in 2018, we saw a unique opportunity to build on the strong foundation and elevate the experience for tomorrow’s tenants. 

Building on a strong foundation  

53 State Street had all of the core elements in place: unique character and charm, great views, high quality finishes, and flexible floorplates. To enhance it, our vision centered on preserving this heritage while modernizing its systems and spaces to create a best-in-class workplace. Key initiatives included: 

• Creating a destination for amenities on the twelfth floor, complete with a premium tenant lounge, roof deck, conference center, and state-of-the-art fitness center. 

• Reimagining the arrival experience by transforming the lobby into a sophisticated gathering space that honors the building’s history. Modern lighting illuminated its striking granite and marble elements while collaborative seating areas infused a fresh creative energy. 

• Creating a private tenant roof deck for a new tenant to inspire one of the building’s largest deals.   

Pioneering forward-looking sustainability solutions

Preparing this building for tomorrow’s clients meant equipping it with innovative systems that would have a lasting impact. Sustainability was a central tenet of our transformation plan—virtually every element was rethought through the lens of energy efficiency and building health. Our key efforts included: 

• Implemented water treatment and HVAC measures to combat corrosion through a partnership with Homeyer Consulting, minimizing energy-wasting friction in plumbing and piping systems. The result was a 5% reduction in HVAC-specific energy usage and an additional nearly 1% decrease in overall property energy consumption. 

• Enhanced air quality in partnership with a leading workplace health authority, Harvard professor, Dr. Joe Allen’s organization, 9 Foundations, as part of our portfolio-wide Healthy Buildings Program implementation. 

• Brought in our signature Beacon bees and gardens to the building’s roof deck. Not only are these part of supporting a thriving, biodiverse ecosystem, but each hive produces roughly 4 gallons of honey per year. 

• Reduced carbon emissions by 12-15% by using Hatch Data’s real-time energy usage monitoring.   

A strategic approach to leasing and operations 

With careful planning and leasing expertise, we filled a large vacancy that became available shortly after acquisition. We re-leased all but 4,500 square feet of the space prior to that lease’s expiration, placing a leading investment management firm, a large commercial bank, and a number of innovative young companies, creating a vibrant community of tenants within the building. 

Data current as of February 2025