Braintree — Campanelli announced that it has purchased 100 Technology Center Drive in Stoughton, Ma. It’s a six story, 186,000 rentable square foot Class A office building, is situated at the intersection of Routes 139 and 24, just minutes from I-93/128 and midway between two commuter rail stations.
NAI Hunneman’s Executive Vice President of Investment Sales and Capital Markets’ David Ross represented the seller in the transaction.
Newmark Grubb Knight Frank’s suburban brokerage team of Mike Frisoli and Tyler McGrail will be the exclusive leasing agent for the property. The purchase of 100 Technology Center Drive comes on the heels of Campanelli’s successful revitalization of the Class A office campus known as Heritage Landing in Quincy, Massachusetts. This complex underwent substantial upgrades in 2014-2016 and became the most sought-after property South of Boston.
100 Technology Center Drive will undergo a full rebranding to match Campanelli’s exciting renovation plans for the property, which will include spending several million dollars in upgrades to the infrastructure and common areas, a strikingly redesigned main entrance, new lobby finishes and a new Café concept. Also included in Campanelli’s design is a fully renovated fitness center featuring shower and locker rooms and a spin studio with virtual ride instruction. Revitalization efforts also include the addition of meeting / conference space adjacent to the Café, allowing tenants to reserve these areas for larger group meetings, as well as designated spaces within the café for gaming such as foosball and ping pong. Exterior improvements include patio seating with free Wi-Fi, a fire pit, a grilling station with gas grills and a multi-sport court.
“This property is unique in that it offers an opportunity to lease upwards of 186,000 contiguous square feet in a corporate headquarters setting in the Route 128 South market,” stated Stephen Murphy, Partner & Principal of Acquisitions, Campanelli. “Our goal is to create a Best in Class space, offering businesses a complex of exceptional amenities that can’t be found elsewhere in this market.”
Appealing to a plethora of corporate, professional and non-profit entities, 100 Technology Center Drive also offers an extensive window line, a high parking ratio and exterior signage for a major user. With typical floor plates ranging from 32,000 to 36,000 rentable square feet, small and large businesses alike can be easily accommodated on full or partial floors. The property has a history as an executive-level location, having been built originally in 1988 as the Reebok world headquarters.
Located just 17 miles south of Boston, 100 Technology Center Drive offers an amenity-rich, full service, first class office solution at competitive rental rates to buildings found west and north– the ultimate combination employers now demand to control costs and provide a superior working environment for their employees and guests. Just minutes from I-93, the property’s Stoughton location provides direct access to downtown Boston or a reverse commute from towns west of Boston as well as proximity to both I-95 and I-495. 100 Technology Center Drive’s central location boasts an abundance of robust amenities within a five minute drive, including popular restaurants such as Smokey Bones, Not Your Average Joe’s, and Bertucci’s, Courtyard Marriott, Target, and other conveniences.
“We are thrilled to have purchased a property that fits perfectly into the company’s portfolio; tenants will love the amenity rich working environment and benefit greatly from Campanelli’s hands on approach and our cutting edge renovation plans,” stated Campanelli’s Director of Leasing Peter Brown.
Campanelli has a long history of success with transforming under-utilized properties. Most recently, the firm made headlines for their impressive turnaround redevelopment and lease-up of Heritage Landing, a three-building, 520,000 square foot waterfront campus in North Quincy. Campanelli also boasts the revitalization of Braintree’s Granite Woods Corporate Center, which underwent a major overhaul in 2007 and achieved 100 percent occupancy in just under a year. In May of 2016, Campanelli announced plans to renovate UPLAND, a 200,000 square foot office building in Norwood, Massachusetts, before signing a long-term, full building lease with Moderna Therapeutics, a privately held pharmaceutical developer currently based in Cambridge, Ma.