CIM Group Commences Construction of New Office Building in Boston’s South End

6/6/2019

BOSTON--CIM Group, in partnership with Nordblom Company, today announced they have commenced the construction of a new 235,000-square-foot Class A office building at 321 Harrison Avenue in Boston’s South End. The eight-story mid-rise building is being built above an existing three-story parking structure, which serves the neighboring 11-story, 242,000-square foot office building at 1000 Washington Street, also owned by the partnership.

321 Harrison will offer modern office space with large 29,000-square-foot floorplates, floor-to-ceiling windows for abundant natural light, multiple outdoor areas, balconies, and energy efficient mechanical systems. The two office buildings will share a new state-of-the-art fitness center, café, bike storage and front desk services in the newly-constructed two-story shared lobby accessed from separate building entrances. The new building will also include lounge areas in the interior Living Room and common roof deck, where tenants of both buildings can enjoy views of the Boston skyline. Construction on 321 Harrison is anticipated to be complete by the end of next year.

The property is centrally located in the South End in Boston, a transforming neighborhood with an inviting walkable environment that offers amenities including restaurants, shops, services, and nearby transportation options. The buildings are located across from the Massachusetts Turnpike (Rt.I-90), approximately 0.6 miles from the Back Bay Train Station and 0.8 miles from South Station, both served by Amtrak. The property is also served by the MBTA Silver Line with service to the Seaport and Boston Logan International Airport.

CIM identified the Boston area more than a decade ago as possessing the attributes that fit its community qualification criteria, which includes established or emerging metropolitan areas with solid infrastructure and transportation networks. CIM and Nordblom are applying their proven development and operational expertise at both 321 Harrison and 1000 Washington to bring a new Class-A office building to the South End. CIM’s portfolio of assets in Boston includes six parcels totaling 2.16 acres in Boston’s Fenway neighborhood, the 200 Stuart Street Garage, the Motor Mart Garage, and the 95 Berkeley Street office building. For more information about 321 Harrison, please visit www.321harrison.com.

About CIM Group

CIM Group is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely-populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.

About Nordblom Company

Nordblom Company is a real estate enterprise with a 90-year history of investing, managing and developing properties throughout the New England region and select markets across the country. The company currently owns office, commercial and multi-family properties in the New England and Carolina markets and is committed to creating dynamic work and living environments that further the quality of life for the people who occupy its properties. Headquartered in Burlington, Massachusetts with offices in Boston, Brookline, and Raleigh, North Carolina, Nordblom Company has over 90 properties and excess of $1 billion in assets under management. For more information, visit www.nordblom.com.