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Reservoir Woods
930 Winter St, Waltham, MA 02451

Thesis

  • In the early 2000s, Waltham was becoming a highly desirable location for technology companies and their sponsors due to its proximity and ease of access to America’s Technology Highway (I-95/Route 128) as well as the Massachusetts Turnpike.
  • We were able to acquire 120 acres of land in three separate transactions between 2000 and 2005 from Polaroid Corp. and Verizon Communications. The parcels had several existing obsolescent buildings in Waltham, MA, less than a mile from, and with entrance/exit ramp access to, I-95.
  • Located adjacent to world-class corporate headquarters facilities and surrounded by some of Boston’s most affluent residential communities, the project plan was to redevelop the campus, attract high-quality companies looking for Class A space, and bring the rents to market rate.

Execution

  • After acquiring the proper permitting and working with the city of Waltham, the team redeveloped the property to create a campus of several first-class office buildings that would meet the demands of modern companies and attract top talent.
  • The campus was redeveloped through a careful and strategic planning process and now consists of five buildings. It hosts numerous top-quality tenants, including the headquarters for PerkinElmer, the U.S. headquarters for Fresenius Medical Care, and the Northeast headquarters for National Grid, as well as HealthPoint, a world-class wellness center/fitness facility.
  • Reservoir Woods is now considered one of the premiere office parks in suburban Boston, with 555,884 square feet of new LEED Gold Certified or higher construction.

Asset Class

Office

Fund

Non-Fund/Legacy

Location

Waltham, MA

Size

1,350,000 RSF