BOSTON – Colliers International’s North team, comprised of executive vice president Greg Klemmer, senior vice president Tim Brodigan, and associate Dan Driscoll, announced that its listing at 55 Ferncroft Road in Danvers is gaining a tremendous amount of momentum with the completion of four lease transactions.
With approximately one million dollars of improvements recently completed under new owner, US-1 Ventures, existing tenants and newly attracted tenants alike have placed substantial value on changes that have impacted the look, feel, and overall performance of the building. From sleek lobbies and common areas, featuring conference space and a LeanBox in the new Café at 55, to refreshed landscaping and new energy efficient cooling towers, heat pumps, and boilers,
US-1 Ventures has given the well located 55 Ferncroft a full overhaul that has been well received in the market. In fact, long-time tenant of the building, Seacoast Capital Managers, came very close to a relocation but was convinced otherwise after seeing the amenities and finishes that ownership introduced. “Quality office product on the north shore is in short supply,” shared Tim Brodigan of Colliers International’s North team, “so improvements like the ones our client made really go a long way in differentiating what some may see as commodity product.”
In addition to Seacoast Capital, SuperMedia LLC also decided to extend its lease, while Primax and Norwin Technologies Corporation joined the tenant roster. Norwin will relocate to 55 Ferncroft from 300 Rosewood, Danvers toward the end of the summer, taking a new spec suite that could effectively accommodate a tight move-in timeline, which will have them operational by mid-summer.
55 Ferncroft is an 86,000-SF building located just off Route 1 in Danvers, accessible via Exit 50 of I-95. Referencing the building’s superior accessibility, owner and director of development for US-1 Ventures, Christine Diarbakerly, noted that “it is approximately 20 miles equidistant from both downtown Boston and the New Hampshire border, and therefore benefits from being a premier location for attracting employees from both labor pools.”
US-1 Ventures is a Winchester, MA-based real estate investment firm, specializing in strategic value-add repositioning of distressed assets throughout Greater Boston and New England.