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Sherin and Lodgen represents MassDOT and MBTA in Back Bay Station ground lease
Peter Friedenberg and Andrew Royce, partners in the firm’s Real Estate Department, represented MassDOT and the MBTA in the negotiation of a 99-year Ground Lease to Boston Properties relating to the existing Clarendon Street Parking Garage and the concourse level of the Back Bay Station, as well as providing for the future leasing of air rights over both properties for as much as 1.4 million s.f. of mixed-use development. The transaction requires Boston Properties to provide substantial funds for the renovation and upgrading of the retail and concourse areas of the Station.
