The Davis Companies Leases Combined 75,000 SF of Office Space in Waltham and Medford as Suburban Properties Flourish Despite Pandemic

0
1165
One Cabot Road

Boston– The Davis Companies announced that it has secured new leases totaling approximately 75,000 square feet between two of its premier Boston-area office properties: Cityside in Waltham and One Cabot Road in Medford.

At Cityside, longtime tenant Bank of America is leasing an additional 23,330 square feet of expansion space, bringing its total occupancy at the property to 118,222 square feet (Ryan Romano, Tom Hansen, and Malcom See of CBRE represented the Tenant; Rob Byrne and Liz McLaughlin of Cushman & Wakefield represented The Davis Companies). Also, DDJ Capital Management, a privately held investment manager that specializes in investments within the leveraged credit markets, is relocating to Cityside from its current location in Waltham and taking occupancy of 13,488 square feet in the fall of 2021 (Perry Beal and Ron Friedman of CBRE represented the Tenant; Rob Byrne and Liz McLaughlin of Cushman & Wakefield represented The Davis Companies).

At One Cabot Road, Inkbit, a rapidly growing technology firm and creator of the first 3D printer driven by vision-based feedback control and artificial intelligence, is moving from its current Medford location to One Cabot where it is leasing 38,300 square feet for its corporate headquarters (Joseph Pearce and Michael Frisoli of Newmark represented the Tenant; Debra Gould and Rory Walsh of Newmark represented The Davis Companies). Inkbit is a 2017 spin-out of the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT, whose early supporters include the MIT Deshpande Center, the MIT Industrial Liaison Program (STEX25), and The MIT Engine Network. Inkbit joins an impressive roster of tenants, including Amazon’s only Massachusetts office location outside of Boston or Cambridge, global healthcare data and technology company ERT and iHeart Radio’s Boston broadcasting facilities.

Amid the significant challenges presented by the pandemic, The Davis Companies has remained very active in the competitive Boston market. Over the past year, the firm has leased over 350,000 RSF of commercial office, lab, and industrial space in the Boston area, including 115,000 RSF at Cityside and 79,000 RSF at One Cabot Road, bringing the total for both properties to 194,000 RSF.

“These new leases build upon The Davis Companies’ record of success across a range of property types during the past year,” said Patrick Kimble, Asset Manager at The Davis Companies. “At a time when there is a great deal of discussion about how the pandemic will impact the future of office space, the strong activity at Cityside and One Cabot Road demonstrates that there is a continued demand for high-quality, Class A facilities.”

“The Davis Companies’ flexibility and ability to make deals with prospective tenants during these challenging times, when others were not, is another contributing factor to our success,” added Duncan Gilkey, TDC’s Director of Leasing & Senior Vice President. “Our office properties are uniquely positioned, combining the amenities tenants would expect from a Downtown office building with the convenience, access to robust parking and ‘room to grow’ of the nearby suburbs.”

Located at 1025-1075 Main Street in Waltham, Cityside delivers a vibrant, convenient location that provides growing companies with connectivity to neighborhoods, high-end amenities and multiple transportation options. I-95/Route 128 and the Mass Pike are both nearby, as is easy access to public transportation; the commuter rail is a short walk from the property and a Boston Express MBTA bus stop is just steps away. Tenants can take advantage of more than 50 restaurants and bars on Moody Street, a growing culinary destination, along with numerous banks, supermarkets, dry cleaners, pet supply stores and pharmacies in the surrounding neighborhood, all within a 10-minute walk.

Following its acquisition of Cityside in 2015, The Davis Companies reimagined the property to provide world-class amenities, including a two-story, all-glass atrium lobby, modern fitness studio, window-lined café, and common workspace and collaboration areas. The building’s outdoor plaza, with ample green space, and its indoor parking garage have proven to be highly valued by tenants during the pandemic.

Reflecting its growing appeal to technology tenants, One Cabot Road recently underwent an extensive remodeling of its main lobby, with the addition of a casual open seating collaboration area, complete with a complimentary latte and espresso bar. The renovation also included upgrades to the building’s full-service café, which is adjacent to a large outdoor patio, complete with heaters, fire pits, lawn games, and views of Downtown Boston. The property sits at the Wellington T stop of the MBTA Orange Line, just four miles from Downtown Boston, and also offers a bike storage area and showers for runners and riders alike. Renovations to the building’s fitness center were completed last year, including the addition of new Peloton and TRX equipment.

With an impressive 3.5 per 1,000 RSF parking ratio, the building offers easy access to the city and major highways and is just minutes away from best-in-class retail amenities, such as Wegmans and the shops and restaurants at Station Landing and Assembly Row. One Cabot Road has recently been awarded a WiredScore Platinum Certification.