CRE firm reinvigorates office building with dynamic design in one of Greater Boston’s hot emerging submarkets
The Davis Companies (TDC) announced today that it has completed a substantial capital improvement program at One Cabot Road in Medford, MA. One Cabot Road is a four-story, 308,954-square-foot building, just four miles from Boston. TDC’s capital improvements have transformed the building into a modern, dynamic environment with high-end amenities designed to enhance the tenant experience. One Cabot Road is walking distance from Wellington MBTA Station with immediate access to the MBTA’s Orange Line, Commuter Rail and local bus lines, and is in close proximity to the AC Hotel by Marriott and a wide variety of restaurants and retail amenities.
TDC acquired One Cabot Road in 2015 with a detailed plan to revitalize the building. Working with Margulies Perruzzi Architects, TDC has re-imagined the building to offer a striking new entrance with additional visitor parking access; a fully renovated two-story common area that functions as both a main lobby and a lounge area; refurbished elevator cabs and common areas to reflect the lobby aesthetic; a re-energized 10,333-square-foot cafeteria with new lighting, seating and game space; an updated fitness center, complete with locker rooms and showers; and an activated 10,000-square-foot outdoor patio featuring expansive city views and comfortable year round seating and gas heaters, which is centered around an outdoor fire pit and game space. In total, the amenity space consists of roughly 17,500 square-feet.
“Boston’s urban markets are rapidly evolving, attracting a wide variety of companies looking for work environments that are creative, efficient, and convenient. Having a parking ratio in excess of 3 spaces per 1,000 square-feet on-site (395 of which are garage spaces) along with being in a transit-oriented location with the Wellington T Station right across the street, One Cabot Road is a strong value alternative to the Seaport and Cambridge at 35-50 percent less rent,” said Duncan Gilkey, Senior Vice President at The Davis Companies. “Furthermore, the infrastructure at One Cabot Road, with three full building back-up generators and dual power feeds into the building was designed to function as a 24-hour operation so tenants that value data center level power, redundancy, reliability and value will find One Cabot Road an incredible alternative.”
“We are excited to be marketing the revitalized One Cabot Road,” said JLL Managing Director Peter Bekarian. “The updated building has undergone a dramatic transformation. Visitors will first experience One Cabot’s bright, re-energized showpiece lobby, and then find their way to a renovated and full-service café before experiencing the new outdoor patio. The submarket continues to enjoy numerous new additions to the amenity base; from new restaurants and shops to new housing. One Cabot also benefits from great public transportation, top of market parking ratios, and the buzz of this hot submarket.”
One Cabot Road is currently home to: Agero, Expedient, Partners Healthcare and First Marblehead Corporation.
Approximately 150,000 square-feet of office space is still available for lease on the 2nd and 3rd floors of the building.
TDC has applied its repositioning expertise to transform other office properties into prime, modern work environments. A few of those projects include: The Xchange in Bedford, MA, which TDC transformed into a contemporary, engaging office campus with cutting-edge amenities; The Center at Corporate Drive in Burlington, MA, which TDC reimagined to create a Class-A office park campus; CrossPoint at Valley Forge in Wayne, PA, which TDC upgraded to become a Class A, LEED Gold-certified and Energy Star-rated office building; and the Union Trust Building in Pittsburgh, PA, a 100-year-old icon which TDC is currently transforming into a 21st century destination building with Class-A retail, traditional office and tech-startup space and amenity space.
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested over $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique 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 across the Eastern United States.
