Swedish construction and development firm Skanska has started work on Two Drydock, a 225,000-square-foot, 12-story office in the Raymond L. Flynn Marine Park on the edge of Boston’s Seaport District.
The office is the latest new construction project along a busy stretch of Boston’s Seaport District. It’s going up across the street from a 400-room dual-branded Hampton Inn/Homewood Suites hotel, developed by Intercontinental Real Estate Corp. and Harbinger Development, that broke ground earlier this year. Also in the industrial park, Related Beal is developing a 375,000-square-foot research and development lab, dubbed “iSQ,” at 6 Tide St. that will be anchored by biotech incubator Mass Innovation Labs.
As it did with its 17-story office at 121 Seaport Blvd., Skanska started construction without an anchor tenant signed on to lease space, said Charley Leatherbee, head of commercial operations for Skanska’s offices in Boston. The 121 Seaport Blvd. office later landed the headquarters of Alexion Pharmaceuticals and PTC.
Real estate brokerage CBRE is leasing the 2 Drydock Ave. office. Leatherbee said the building would not be targeting any specific type of tenant.
“I don’t think developers and landlords can target individual tenants anymore.” Leatherbee said. “The tenants that are coming into any building aren’t all the same content or character. 121 Seaport attracted a life sciences company from Connecticut and a technology company from Needham… We’ve talked to all sorts of businesses for Two Drydock, from law firms to startups.”
The office is designed by architecture firm SGA and will feature ground-floor retail space, a 12,000-square-foot public plaza, a 7,500-square-foot rooftop terrace, a fitness center and locker rooms with showers.
Three of the building’s 12 stories will be above-ground parking floors, housing 150 parking spaces. Those three floors could be converted to office space.
Leatherbee said building above-ground parking, versus an underground deck, was less expensive, and would let Skanska pass savings onto future tenants in the form of lower-than-average rents.
“We are offering a very competitive economic package for our tenants,” Leatherbee said in an interview. “I think tenants are going to be very attracted to this.”