Wellington Management leases 106,000 square foot Net Zero lease in Needham

Bryan Koop

BOSTON–Boston Properties, Inc. announced that Wellington Management has committed to a long-term, 106,000 square foot Net Zero lease at 140 Kendrick Street located in Needham, Massachusetts.

The transaction includes a commitment from BXP to reposition the premises as Net Zero, Carbon Neutral, which is further defined by the LEED Zero Carbon Certification. Wellington Management recently renewed and expanded their lease with BXP at Atlantic Wharf in Boston, where the firm has been headquartered since the building opened in 2011.

140 Kendrick Street is a 440,000 square foot multi-building complex consisting of three interconnected office buildings. Wellington Management will lease the entirety of Building A, which totals 106,000 square feet. This will be the first Net Zero, Carbon Neutral office repositioning of this scale in Massachusetts. The repositioning will include a deep energy retrofit, full electrification of gas-fired systems, HVAC modernization, including advanced heat recovery, and onsite renewable energy generation from a solar photovoltaic system that is designed to exceed annual consumption.

“We are committed to working toward a more sustainable future and to reaching our goal of becoming carbon neutral in our business operations by the end of 2022,” said Ed Steinborn, Chief Financial Officer, Wellington Management. “We believe there are opportunities to develop pathways to net zero in all areas of our business, including real estate.”

“Wellington Management continues to be an outstanding partner in our efforts to bring sustainable innovation to both new and existing assets,” said Bryan Koop, Executive Vice President, Boston Region, BXP. “Wellington Management’s commitment at 140 Kendrick Street is a continuation of the success we built at Atlantic Wharf through the development of Boston’s First Green Skyscraper. We look forward to continuing our longstanding partnership through this extraordinary net zero project.”

140 Kendrick Street features the Exchange amenity center, shared conference facilities, a full-service café, boutique fitness studio, and structured parking. The complex is conveniently located with access to Route 128/I-95, Route 2, and I-90.