MFS Investment Management has recently renewed its lease for 330,000 square feet of space in Boston’s Back Bay area at Prudential Center. According to a report by the Boston Business Journal, this decision was made due to the company’s belief that relocating to more cost-effective spaces would negatively impact their culture and employee satisfaction.
The property, located at 111 Huntington Ave and situated at the base of Prudential Tower, offers convenient indoor access to various nearby destinations such as Hynes Convention Center and office towers on 101 and 111 Huntington Avenue. The Sheraton Boston Hotel is also easily accessible from this location.
For MFS, real estate expenses make up only a small portion compared to personnel costs. Amrit Kanwal, MFS’ chief financial officer stated that nearly half of their expenses are attributed to personnel. This reinforces their decision not relocate as it could potentially compromise crucial elements of their success – company culture and employee satisfaction.
This news comes after reports from Connect CRE revealed that MFS had decided against moving its operations out of state despite receiving enticing offers from other locations outside Massachusetts.
