Built in 1981–1985, it is tied for Boston's 17th tallest building, standing 510 feet (155 m) tall, and containing 40 floors.

The glass tower portion rises out of a previous building, the 12-story Boston Stock Exchange, built in 1889–1891 and designed by Peabody and Stearns.

The intent was to demolish the older building in order to construct the skyscraper, but preservationists succeeded in rescuing a portion of the Stock Exchange's facade.

[2] Brookfield Office Properties, which had previously purchased the building from Harold Theran in 2006,[3] sold Exchange Place to UBS Realty Investors LLC in 2011.

[9] Close to the southwestern corner of the building near the junction of Congress Street with Exchange Place, the building sits directly atop the State Street MBTA station, featuring direct access to the Blue-Line Wonderland-bound platform and by extension the Orange Line.