FOR IMMEDIATE RELEASE
IHEARTMEDIA EXPANDS AT ONE CABOT ROAD IN MEDFORD, MA
One of the world’s leading media and entertainment companies, AM/FM Broadcasting/IHeartMedia takes an additional 21,504 square feet of rentable area at One Cabot
MEDFORD, MA – February 7, 2018 –Radio conglomerate, AM/FM Broadcasting/iHeartMedia Inc. has more than doubled the amount of its office/broadcasting space at One Cabot Road, a modern, amenity-filled office and R&D building ideally located adjacent to the Orange Line’s Wellington Station. The media and entertainment leader signed a lease for an additional 21,504-square-feet of office space just sixteen months after committing to a 20,365-square-foot office space lease in September 2016.
“AM/FM Broadcasting’s selection of the property speaks not only to the company’s growth, but to value offered by the Medford/Somerville market and the property’s convenient access to key Boston destinations,” said Davis Companies Senior Vice President, Duncan Gilkey. “One Cabot is an ideal urban/suburban location with significantly lower rents than Boston and Cambridge and easy commuter access with a shuttle service to the nearby MBTA Wellington Station Orange line station, which is located directly adjacent to Assembly Row and minutes to Downtown Boston. The property is also a short, 12-minute drive to both Cambridge and Boston and less than five miles from Boston Logan Airport.”
In 2017, The Davis Companies repositioned One Cabot with significant capital improvements that brought more than 17,500-square-feet of top-tier amenities to the building. Working with Marguilies Perruzzi Architects, The Davis Companies fully renovated the two-story lobby with networking and collaboration spaces; a re-energized 10,333-square-foot cafeteria, which The Davis Companies transformed into a fun, social environment; an updated fitness center with locker rooms and showers; a 10,000-square-foot outdoor patio with expansive views of Boston and Boston Harbor, comfortable year-round seating, a fire pit and game space, and additional visitor parking.
Debra Gould, Managing Director for Newmark Grubb Knight Frank states, “The Wellington Station market continues to strengthen with increasing occupancy and site expansions. This building is prime facility for media, technology and business service firms with excellent onsite and area comforts for their employees, ample parking with more than 3 spaces per 1,000-square-feet and an infrastructure that supports a 24-hour operation and includes emergency back-up generator power tenants.”
About The Davis Companies
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multi-family, retail, hospitality, light industrial, healthcare and bioscience properties across the Eastern United States. For further information, visit www.thedaviscompanies.com.
Contact: Dianne James