BOSTON, March 4, 2014 /PRNewswire/ -- Wayfair, the largest online retailer of home furnishings and decor, today announced the addition of 170,000 square feet to its lease with Simon Property Group, Inc. (SPG) at The Offices at Copley Place in Boston's Back Bay. In anticipation of a June relocation, the additional space brings Wayfair's new office space to a total footprint of 275,000 square feet.
Currently based at 177 Huntington Avenue, Wayfair announced a 105,000 square foot lease with Simon Property Group and plans for a June 2014 move last spring. However, following a year of rapid growth and expansion, Wayfair now requires additional square footage to accommodate its Boston-based employees in a headquarters relocation to take place later this year. The new space is roughly three times the size of the company's current headquarters and provides further expansion options to accommodate continued growth.
"With more than 1,600 employees, Wayfair is quickly becoming one of the largest employers in Boston," noted Niraj Shah, CEO and co-founder of Wayfair. "We are proud of our Boston roots and believe our location in the Back Bay is optimal for attracting and retaining top talent. We are excited to expand our footprint in the city of Boston and look forward to our move later this year."
"We are very pleased that Wayfair is increasing its commitment to Copley Place even before they move in," said David J. Contis, president, Simon Malls. "With world-class shopping, an office setting ideal for technology companies, and a planned 52-story residential tower with over 500 units, Copley Place will be one of the most dynamic mixed-used projects in the country."
Michael Joyce, Jonathan Varholak and Thomas Ashe of Transwestern | RBJ represented Wayfair in the transaction. Simon Property Group was represented by Transwestern | RBJ, the exclusive leasing agent for The Offices at Copley Place.
About the Offices at Copley Place
Copley Place, a world-class, mixed-use complex, offers approximately 845,000 square feet of Class A office space in one of Boston's best known locations. Copley Place's office space is contained in four towers, each featuring an individual elevator core. Onsite amenities are unparalleled in the city: with 75 retail shops, two large convention hotels, and 1500 parking spaces. More than 40 restaurants are either onsite or nearby.
Tenants of Copley Place have excellent options for accessing the complex. The site is immediately adjacent to the MBTA Orange and Green Lines and the regional commuter rail at Back Bay Station. The project is conveniently located at the Exit 22 interchange of the Mass Pike (I-90).
About Simon Property Group, Inc.
Simon Property Group, Inc. (SPG) is an S&P 100 company and a global leader in the retail real estate industry. The Company currently owns or has an interest in more than 325 retail real estate properties in North America, Asia and Europe comprising approximately 243 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more information, visit the Simon Property Group website at www.simon.com.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.net/Boston and follow us on Twitter: @Transwestern and @TranswesternBOS.
Wayfair offers a zillion things home – the largest selection of home furnishings and decor across all styles and price points. With an unparalleled selection of more than seven million home items from 12,000 brands, Wayfair helps people find the perfect product at the right price through tailored shopping experiences across its brand portfolio. The e-commerce leader's unparalleled selection and superior customer service coupled with the convenience of online shopping, makes it easier than ever before for shoppers to find exactly what they want for their homes. The Wayfair family of brands includes Wayfair.com, the world's largest online destination for home goods, AllModern.com, the leading destination for original modern design, Joss & Main, the fastest growing private sale site for the home, and DwellStudio, a lifestyle retailer known for groundbreaking design and impeccable quality in modern home furnishings.
Headquartered in Boston, Massachusetts, Wayfair employs more than 1,600 people in its eight global locations of Boston, New York, Ogden, Utah, Hebron, Kentucky, Galway, Ireland, London, Berlin and Sydney. The company was named one of America's Most Promising Companies by Forbes Magazine. For more information, visit www.wayfair.com.
- Real Estate
- Simon Property Group
- Copley Place