RFP to Lease 15 State Street at BOST

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Title:  

RFP to Lease 15 State Street at BOST

Agency:  

U.S. Department Of The Interior

State:  

Pennsylvania

NAICS Code:  

53

Industry:  

Real Estate

Solicitation Type:  

Request for Proposal

Solicitation ID:  

BOST_15-State-Street_RFP

Open Date:  

5/27/2025

Pre-Bid Meeting Date:  

7/24/2025

Questions Due Date:  

8/20/2025

Close Date:  

9/12/2025

Last Updated:  

9/2/2025

Description:
The National Park Service (NPS) is seeking proposals to lease a historic building located at 15 State Street in Boston, Massachusetts. The building is an 11-story steel and masonry-constructed office building that was constructed in 1902 and is listed as a Historic Building in the Inventory of Historic Assets of the Commonwealth of Massachusetts. The lease term will be negotiated with the selected offeror, but it is anticipated to be between 40 and 60 years. The NPS is looking for a developer or property management company to sublet the property for office space, hotel, or residential housing units. The selected offeror will be responsible for maintaining the property, including making repairs and improvements, and will be required to comply with all applicable laws and regulations, including those related to historic preservation. Some key points to consider: * The building requires significant repairs and improvements, including replacing the roof, updating plumbing, and replacing elevators. * The NPS is planning to make some improvements to the property prior to the lease commencement date, including repointing exterior masonry and updating the HVAC system. * The lease will require the lessee to maintain the property in good condition and to comply with all applicable laws and regulations. * The NPS is looking for a proposal that demonstrates a clear understanding of the property's historic significance and a commitment to preserving its historic quality. * The proposal should include a detailed operating plan, a marketing and advertising plan, and a plan for managing the property's maintenance and repairs.
Attached Files:

Please visit the bid source via the “Link to Bid Source” button below for documentation.

Contact Information:

David Santucci

bost_permits@nps.gov

Budget Estimate (AI):

$500,000 – $100,000,000

The budget for this opportunity is likely to be significant, given the long lease term and the requirement for the lessee to make significant repairs and improvements to the property. The NPS is required to receive Fair Market Value Rent, which will be determined after selection of the best proposal. The rent will be negotiated with the selected offeror, but it is anticipated to be substantial, given the property's location and historic significance. A rough estimate for the annual rent could be in the range of $500,000 to $2 million, depending on the proposed use and the lessee's financial capabilities. The total budget over the lease term could be in the range of $5 million to $100 million, depending on the length of the lease and the lessee's performance.

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