July 24, 2006 Monday

N. Quincy office scene getting a new look;
With Registry's arrival, roster of newcomers in the area increases

By: Steve Adams

The Patriot Ledger QUINCY - The Registry of Motor Vehicles moves into its new North Quincy digs this week, breathing new life into the business district seven months after the departure of Blue Cross Blue Shield of Massachusetts from the building.

Crews from Kirkland Construction of Boston have been working nearly nonstop since May gutting the interior and installing new utility systems and workspaces as part of a $5.5 million renovation of the 98,000-square-foot building at 25 Newport Avenue Extension.

"It's been multiple shifts working pretty much around the clock to get them in on time," said Peter Merrigan, president and CEO of landlord Taurus Investment Holdings of Boston. "It's a very short timeframe (to occupy) that space."

The Registry signed a 10-year, $17 million lease for the property in February. The agency planned to move 425 administrative jobs from Boston 's Copley Place to North Quincy, with occupancy starting today.

The Registry's move reflects a gradual diversification of the 900,000-square-foot office market in North Quincy, long dominated by State Street Corp. and Blue Cross Blue Shield.

" North Quincy is no longer `State Street-ville,' if you will," said J.P. Plunkett, a broker for the real estate brokerage Cushman & Wakefield. "It's a bona fide healthy multi-tenant market."

State Street and Blue Cross Blue Shield still maintain a major presence in North Quincy , but there have been many newcomers in recent years, including: Benefits administrator CitiStreet - a joint venture of State Street Corp. and Citigroup - moved 1,000 employees to 1 Heritage Drive from BatteryMarch Park in July 2004. Quincy-based Granite Telecommunications bought another former Blue Cross property, the 126,000-square-foot office building at 100 Newport Ave. , last December for $11.4 million and moved 260 employees there. CNA Insurance recently signed a lease for 12,000 square feet at 100 Newport Ave. CNA is currently located at Presidents' Place in downtown Quincy.

And with other types of commercial development starting to complement office uses, the area will attract more activity after business hours.

Lee Kennedy Co. of Boston last month broke ground on Neponset Landing, a $33.5 million, 280-unit apartment complex developed by Conroy Development of Stoughton. The 10-story, 400,000-square-foot building is at 2 Hancock St. overlooking the Neponset River . The company plans to market "oversized" luxury apartments with Boston views. Steve Adams may be reached at sadams@ledger.com.

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