Verizon announces plans for technology-based workspace at Boston’s The Hub on Causeway
Source: Nasdaq GlobeNewswire / 20 Nov 2018 09:45:13 America/New_York
BOSTON, Nov. 20, 2018 (GLOBE NEWSWIRE) -- Verizon today announced plans related to its long-term lease of more than 450,000 square feet in a mixed-use technology community at Boston's The Hub on Causeway, adjacent to TD Garden with direct connection to the North Station.
Once completed in 2021, The Hub on Causeway, a joint venture development of Boston Properties (BXP) and Delaware North, will create a live-work-innovate ecosystem unmatched in the city. Verizon’s presence will include 16 floors of innovatively designed space, of which five floors will be reserved for incubators, accelerators and partners. These activity-based workplace floors will feature multiple types of agile working environments to foster creativity, innovation and collaboration among teams.
Powered by next-generation Verizon network services, experiential amenities at The Hub on Causeway will feature a variety of entertainment and food options, including a large live music venue, a sports bar, a food hall, a full service grocery store and a 15-screen cinema available for private events. The Hub will also include a new world-class hotel and a 440-unit luxury residential tower.
Verizon’s lease is for the top of the tallest office building built in Boston in two decades, The Hub’s 31-story mixed-use tower. Verizon’s decision to locate at The Hub on Causeway reinforces the location as the most technologically advanced in the city and Boston’s nucleus at the intersection of tech and talent. The tower will include unique space centered on collaboration through innovation and coworking space in partnership with design and architecture provided by Gensler.
Creating a tech epicenter
“Boston is an epicenter of tech talent and The Hub will be the ‘next workplace’,” said John Vazquez, Verizon’s senior vice president of global real estate and supply chain. “We are helping spur innovation by prioritizing Boston and its vast resources as the place where future technologies are being developed.”
Verizon plans to expand ties with leading universities across the river in Cambridge, and throughout the Boston area, to attract top talent who specialize in new and emerging technologies.
An emphasis of The Hub will be on the community and experience. The building’s roof deck will include a unique meeting space for groups and organizations to hold functions, social gatherings and meetings. The Verizon Foundation will also utilize the space to host programs and events related to teacher training, STEM curricula, and connectivity to under-resourced students.
“We want an environment that goes beyond a traditional meeting spot and creates a perpetual destination for the tech community, transcending the ideology of the office by welcoming organizations, entrepreneurial companies and individuals to enjoy the amenities we have to offer,” Vazquez said.
Bryan Koop, executive vice president of the Boston region for Boston Properties, said, “We are thrilled that Verizon has chosen The Hub on Causeway to create an innovation hub. Verizon’s dynamic creative, and forward-thinking workforce will be located in the most connected and exciting neighborhood in Boston, providing the perfect backdrop for the work on cutting-edge technologies that will take place within The Hub.”
“We are delighted to have Verizon join our already outstanding group of tenants at The Hub on Causeway,” said Charlie Jacobs, CEO of Delaware North’s Boston Holdings. “Verizon will now have access to some of Boston’s most desirable tech-focused office space and the city’s wealth of intellectual capital.”
The real estate agreement was overseen by the Cushman & Wakefield brokerage team led by Josh Kuriloff in New York and John J. Boyle III in Boston.
In a related announcement today, Verizon and the City of Boston expanded a partnership to accelerate the city’s technology plans.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, generated $126 billion in 2017 revenues. The company operates America’s most reliable wireless network and the nation’s premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary reaches people around the world with a dynamic house of media and technology brands.
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