Seven months after acquiring One Lincoln out of foreclosure, DivcoWest has unveiled $100 million of upgrades to the 1.1-million-square-foot downtown Boston office tower. They range from a fitness and wellness center to a tenants-only whiskey bar and lounge.
“Everywhere you look, no corners have been cut,” Mark Roopenian, a managing director for leasing and marketing at DivcoWest, told the Boston Business Journal. The amenities are part of a bid to attract tenants and fill as much as 730,000 square feet of vacant space, according to published reports.
DivcoWest, which owns other Boston-area office properties, joins other prominent downtown landlords such as Tishman Speyer and Oxford Properties in upgrading their office towers to compete with newly delivered product. The San Francisco-based owner/operator paid $400 million for One Lincoln this past spring, just three years after the circa-2003 property was refinanced at a $1.1-billion valuation.
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