Boston — Cushman & Wakefield announced that Cambridge Savings Bank has leased 76,000 square feet at 81 Wyman Street in Waltham, MA. Cambridge Savings Bank is consolidating its back-office locations from Cambridge and Arlington into this new operations center while retaining its corporate headquarters in Cambridge.
“We believe optimizing our infrastructure is important to our continued growth, and space needs are imminent in our current back-office locations,” said Wayne Patenaude, CEO and President of Cambridge Savings Bank. “Our employees are very excited about coming together in one location where project collaboration will be easier and where we can build an even stronger corporate culture.”
81 Wyman Street is part of the 2 million-square-foot Hobbs Brook Park located in the heart of the Route 128 business corridor. Offering prominent visibility from Route 128, 81 Wyman Street is a three-story building that joins a campus of new LEED certified buildings. Hobbs Brook Management is working with architectural firm Vision3 on a complete renovation of the former Thermo Electron headquarters building. Cambridge Savings Bank along with its architectural firm, SMMA, is designing the interior space to meet the forward-thinking WELL standard. A light-filled atrium will connect all floors, and the space will be rich with amenities, including a fitness center, yoga studio, outdoor patio and an open and transparent office environment that supports various work styles and meeting options.
“We are thrilled to welcome Cambridge Savings Bank to the Hobbs Brook family,” noted Tom Dusel, President and CEO of Hobbs Brook Management. “We look forward to a long and successful relationship.”
“This is an important consolidation project in what will arguably be the highest-quality office space on Route 128,” said Brian Hines, Vice Chair at Cushman & Wakefield. “Cambridge Savings Bank has made a strategic move, and we were happy to be an advisor in this process.”
Cushman & Wakefield’s Hines, Managing Director Ryan Romano and Vice Chair Peter Joseph worked alongside Dan Fraine, Facilities SVP, representing Cambridge Savings Bank. The building owner, Hobbs Brook Management, was represented by Managing Director Chip Bachelder of Wyman Street Advisors who worked alongside Kevin Casey and Trish Holland of Hobbs Brook Management.
Cambridge Savings Bank has retained Cambridge-based SMMA to design its new facility. “SMMA’s partnership with CSB dates back nearly four decades, so it’s no surprise to see them embrace state-of-the-art ideas when it comes to their real estate solutions,” said Ara Krafian, President and Chief Executive Officer of SMMA. “CSB leadership is unambiguous as they take a progressive approach to their new operations center, which promises to be a center of excellence.”
Cushman & Wakefield’s Boston office provides a complete suite of commercial real estate services for the entire lifecycle of properties and portfolios.