Full Article: https://www.bankerandtradesman.com/media-conglomerate-doubles-space-in-medford-office-complex/
By Steve Adams/Banker & Tradesman Staff February 12, 2018
Media conglomerate iHeartMedia Inc. has more than doubled its office and broadcasting space at One Cabot Road in Medford, signing a lease expansion with landlord Davis Cos. for 21,504 square feet.
Boston-based Davis Cos. acquired the 308,946-square-foot One Cabot from Ares Management in 2015 for $53 million. A 2017 capital improvement program in 2017 including new lobby and cafeteria, updated fitness center, outdoor patio and additional parking.
“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,” Newmark Knight Frank Managing Director Debra Gould said in a statement.
iHeartMedia initially leased 20,365 square feet at One Cabot in September 2016.
One major One Cabot tenant, First Marblehead Corp., relocated last summer to 200 Clarendon in Boston’s Back Bay. Another, roadside assistance specialist Agero Inc., has agreed to relocate to a 115,000-square-foot office building that recently broke ground at the nearby River’s Edge development in spring 2019