Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Is Fido Packing Up? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 4, 2002

Is Fido Packing Up?

by: Sean Hanna, Editor in Chief

The current soft real estate in Boston may be too good for Fidelity to pass up. The Boston Behemoth is reportedly considering giving up leases to more than 300,000 square feet of office space in Downtown Boston.

The Boston Herald first reported the news in an article based on real estate industry sources. Fidelity would reportedly buy out the remainder of the leases, reported the paper.

The report comes days after Fidelity revealed plans to cut more than five percent of its workforce. The move is thought to be a part of Fidelity's strategy of basing employees in owned, rather than leased, office space. Fidelity occupies some three million square feet of space in the Boston area.

The leases in question are for 170,000 square feet of space at 53 State Street more than 150,000 square feet at 260 Franklin Street, according to the paper.

The office vacancy rate in Boston has climbed to 15 percent so far during the recession. The looseness in the market may provide Fidelity the opportunity to reshuffle its workforce. While the economy boomed and Fidelity was adding employees it moved much of its staff outside of the high rent district in downtown Boston.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use