November 09, 2017
Boston – Transwestern Consulting Group (TCG) today announces it represented Berkshire Bank in a new 10,600-square-foot lease at 60 State St. in Boston. The bank will move its corporate headquarters of Berkshire Hills Bancorp, the parent company of Berkshire Bank, to the building’s 38th floor. TCG Senior Vice Presidents Rob Byrne and Jeff Landers represented Berkshire Bank in the transaction.
“Deciding to move to Boston was a significant choice for a bank that has been headquartered in Western Massachusetts for so long,” said Byrne. “Berkshire would have been hard-pressed to find a more central location in Boston than the intersection of Congress and State streets, right next to Faneuil Hall. And the top floor of 60 State St. will provide the Berkshire team with exceptional views of their new home.”
Previously located in Pittsfield, the bank is expected to occupy its new headquarters in December 2017. The office will house Berkshire’s senior executive leadership, wealth managers and local commercial, retail and private bankers. With its recent acquisition of Commerce Bancshares, Berkshire became the largest regional bank headquartered in Massachusetts and the third-largest regional bank headquartered in New England. From Boston. the bank's footprint stretches west to Syracuse, New York, north to Rutland, Vermont, and south into Connecticut, New Jersey, and Pennsylvania.
"This new headquarters location reflects our leading role as a New England regional bank and northeastern financial institution with national specialty lending teams,” said Michael Daly, Berkshire Bank CEO. “With our central presence in New England's financial hub, we're expanding our Boston area banking operations and enhancing the resources we provide to all of our regional banking markets."
Dan Cavanaugh, Patrick Nugent and Ryan Enright of JLL represented the building owner, Oxford Properties Group.
According to Transwestern research, Boston’s Financial District consisted of 36.2 million square feet of office space with 8.4 percent vacancy at the close of third quarter 2017.
Berkshire Hills Bancorp is the parent of Berkshire Bank - America's Most Exciting Bank®. Including the acquired Commerce Bank operations, the Company has approximately $11.6 billion in assets, 113 full service branches in Massachusetts, New York, Connecticut, Vermont, New Jersey, and Pennsylvania providing personal and business banking, insurance, and wealth management services. The Company also offers mortgages and specialized commercial lending services in targeted national markets. . For more information, visit www.berkshirebank.com.
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Transwestern Consulting Group works with owners and occupiers of real estate to design and execute customized, labor-centric strategies that consider corporate objectives, economic drivers and industry trends to solve complex business challenges. Using a data-driven approach, our dedicated team of multimarket specialists integrates transactional expertise with the appropriate mix of site selection and demographic analyses; financial modeling; supply chain management; incentives negotiation; portfolio optimization; workplace strategy; and branding solutions for the achievement of each client’s goals.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Boston office, follow @TranswesternBOS.