November 4, 2021 10:00 AM
Campanelli has assigned Newmark to lead leasing efforts at the former CISCO headquarters campus, newly rebranded as The Park at Beaver Brook in Boxborough, Massachusetts. The Park at Beaver Brook totals more than 409,000 square feet of existing office space and up to 1 million square feet of new development potential on 110 acres. This will be the sixteenth business park developed by Campanelli in Massachusetts. Newmark Senior Managing Director Tyler McGrail, Executive Managing Director Torin Taylor, Vice Chairman Michael Frisoli and Associate Margaret Fee will be marketing the newly rebranded Campus, which Campanelli acquired in partnership with TriGate Capital.
“We are excited to work with Campanelli on this project, as the company diversifies and expands its portfolio,” said McGrail. “The Park at Beaver Brook is a unique purchase with a great deal of potential. The real estate market continues to evolve around Route 495 and we are excited by the opportunities to grow with the changing landscape.”
Located along Beaver Brook Road and built in 2002, the three-building campus has been CISCO’s Massachusetts headquarters for the past 18 years. With headquarters-quality finishes, exceptional infrastructure, use flexibility and the potential for an additional one million square feet of development, the campus is an attractive opportunity for tenants.
“We are very enthusiastic to acquire a Class A campus with immediate access to I-495, with both existing facilities and future development potential,” concluded Campanelli Partner Russell Dion. “We have asked Newmark to pursue uses for the existing buildings and investigate all segments of the market for the future developments.”
About Campanelli
Established in 1947, Campanelli is a third generation, full-service commercial real estate development and acquisition company with extensive experience in the industrial, office, medical office, warehouse/distribution, retail, educational, cold storage, and multi-family markets. Campanelli began building homes during WWII and transitioned from residential to commercial real estate in the 1960’s. The team, known for their seamless ability to work with their clients and act as the “real estate division” of a company, has developed 15 business parks in Massachusetts, over 24 million square feet across the nation and provided international development consulting and site selection services. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions. It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural and engineering design, building construction and facilities and property management. For more information, visit our new website at campanelli.com.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.