Boston – A joint venture between Artemis Real Estate Partners and Saracen Properties has completed Phase II of the repositioning efforts at its 50-acre property Mill & Main, culminating in a multi-million dollar expenditure on interior and exterior capital improvements at the eight-building campus.
Mill & Main is a 1.1-million-square-foot, Class A brick & beam office park located in Maynard, MA, just 25 miles west of Boston.
The property, formerly the world headquarters of Digital Equipment Corporation, is currently home to tenants including Stratus Technologies, Acacia Communications and Kuebix, and has up to approximately 500,000 SF of office space available with offerings ranging from 1,500 SF to over 150,000 SF.
Approximately 85,000 SF of leasing has been completed at the project since January 2017. New relocations to Mill & Main include The Panther Group from Waltham, Tea Forte from Concord and ClearGov from Hopkinton, amongst others.
The capital improvements were designed by Margulies Perruzzi Architects and range from upgraded landscaping and hardscaping, base building work, lobby renovations, upgraded security features, a new 6,000 SF fitness center with lockers and showers, a 24/7 mini-mart and the creation of wayfinding signage throughout the site.
“We’re pleased to have finalized the current phase of the repositioning efforts at Mill & Main, and see its vast transformation,” said Kevin Brodsky, Senior Vice President of Artemis Real Estate Partners. “Mill & Main is a best-in-class mill renovation in one of Boston’s growing suburbs, and these capital improvements are just another step for us to attract the best and brightest entrepreneurial, creative minds to the campus.”
Mill & Main’s leasing is led by CBRE/New England’s Rob Walles, Bob McGuire, Alison Powers and Sam Crossan.
“Mill & Main is a unique, walkable environment adjacent to local businesses in downtown Maynard that fills a void in the western suburbs of Boston,” added CBRE/NE’s Walles. “As Route 128 West rents continue to climb, we’re starting to see a shift of more companies seeing the tremendous value in moving to suburban spaces that have the amenities and charm of Mill & Main as well as the town of Maynard.”
Located in downtown Maynard, Mill & Main is situated amongst walkable retail amenities including charming local restaurants and a variety of convenience retail including fast-casual dining options, banks, the Post Office and more. Mill & Main dates back to the mid-1800s and was renovated in the early 1980s by Digital Equipment for its world headquarters. In 1998 it became known as Clock Tower Place and began the transition to a multi-tenant office park. It was then acquired by Artemis Real Estate Partners, a leading global real estate investment management firm, in 2015 to be transformed into a modern-day office hub.
Artemis Real Estate Partners is a real estate investment management firm that invests with best-in-class local operating partners, both established and emerging, in multifamily, office, industrial, retail, hospitality and seniors housing. Artemis has raised over $3.4 billion of investor equity in two primary business lines: $2.2 billion in a commingled fund series (core plus, value add and opportunistic) and over $1.2 billion in separate accounts focused on emerging managers.