The RMR Group Announces Execution of Renewal Leases Totaling 150,551 Square Feet at 1249 and 1387 South Vinnell Way in Boise, ID
NEWTON, Mass.--(BUSINESS WIRE)--Jan 30, 2020--
The RMR Group Inc. (Nasdaq: RMR) today announced that the Natural Resource Center recently signed ten-year lease renewals for 59,696 square feet at 1249 South Vinnell Way and 90,855 square feet at 1387 South Vinnell Way, both located in Boise, Idaho. These leases comprise 100% of the total rentable square feet at each property.
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The properties are suburban office buildings with amenities including fitness centers, locker rooms and showers. Situated near Interstate 84 and Interstate 184, the properties also offer close proximity to retail and dining options.
The properties are owned by Office Properties Income Trust (Nasdaq: OPI) and managed by The RMR Group. The RMR Group is responsible for providing all aspects of management services and strategy for more than 1,400 properties with over 97 million square feet of commercial office, industrial, medical office, life science and retail space.
OPI was represented by Chad Habeeb of FD Stonewater.
About The RMR Group Inc.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned operating subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of September 30, 2019, The RMR Group LLC had $32.8 billion of total assets under management, including more than 2,200 properties, and employed nearly 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
About Office Properties Income Trust
Office Properties Income Trust is a real estate investment trust, or REIT, focused on owning, operating and leasing buildings primarily leased to single tenants and those with high credit quality characteristics like government entities. OPI is managed by the operating subsidiary of The RMR Group Inc.
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CONTACT: Christopher Ranjitkar
Senior Director, Marketing & Corporate Communications
KEYWORD: IDAHO MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: REIT FINANCE PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: The RMR Group Inc.
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PUB: 01/30/2020 08:00 AM/DISC: 01/30/2020 08:00 AM