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Brookwood Financial Partners, LLC (Brookwood) has completed four new leases in a rapid-fire marketing program at One Alewife Center. Newmark Grubb Knight Frank (NGKF), the commercial real estate services firm that brokered the sale of the Class A office building to Brookwood in June 2012, has been marketing the property’s available office space for lease and is on track to meet ownership’s goal of reaching full occupancy by the end of this year.
Recent lease signings include:
• Basis Technology Corporation expanded its leased space by more than 5,800 square feet to 18,369 square feet. Basis develops innovative products and solutions incorporating multilingual text analytics and digital forensics.
• Belmont Technology Inc., a new startup formed by SolidWorks founder Jon Hirschtick and a number of his former SolidWorks colleagues, has leased 4,930 square feet of high-visibility, first-floor space to house the growing product-design company.
• CDA Collaborative Learning Projects, Inc. has leased 2,657 square feet on the fourth floor. The non-profit organization analyzes humanitarian, sustainability and peace promotion activities to hone their effectiveness, and is relocating its Cambridge headquarters to the newly leased space.
• Permabit Technology Corporation, the recognized leader in storage efficiency technology and developers of Permabit Albireo software for original equipment manufacturers, signed a new lease for 11,758 square feet, also on the fourth floor.
NGKF leasing team members Ryan Weber, Douglas Adamian and Ellen Fantini Cullinan are exclusive agents for the property.
To boost the property’s appeal, Brookwood has extensive lobby renovations under way and is progressively constructing offices with high-quality finishes on a speculative basis that makes those spaces readily available for new tenants.
“Brookwood’s renovation program at One Alewife - intended to lure tenants from the booming Kendall Square market with a fresh, new look - has in fact helped the leasing team to draw companies from the suburbs and downtown as well,” Mr. Adamian said.
“The property has always been well-located with great transportation access, but it was often overlooked because of its previously stodgy interiors,” Mr. Adamian added. “With the new ownership and extensive renovations, we really have a great new product to offer, rivaling that of the competition and at a more attractive price point.
“Rising rental rates in the market are driving tenants to explore all options for office space,” stated Mr. Adamian. “In the process, they are re-discovering that well-located properties, including One Alewife, have the best of all worlds: affordable rent, parking, immediate proximity to the MBTA and easy access to retail amenities, Kendall Square, MIT/Harvard, downtown Boston and even the suburbs.”
Proximity to homes and concentrated residential development in the surrounding submarket is also contributing to the success of One Alewife and promises to draw more tenants to the area.
One Alewife can still accommodate tenants in contiguous space as large as 12,000 square feet. For information, contact the leasing team at 617.772.7200.
About Brookwood Financial Partners
Brookwood Financial Partners LLC invests in commercial real estate through a variety of economic cycles and market conditions. Its historical portfolio has exceeded $1.37 billion in aggregate since inception, and has spanned multiple asset classes including CBD office, suburban office, retail, industrial, multi-use, research & development, multi-family and flex properties, as well as entitled residential building lots, throughout the United States. The company is headquartered in Beverly, MA, and also has offices in Fairfax, VA; Temecula, CA; Dallas, TX; and Portland, ME.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, Newmark Grubb Knight Frank employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, Newmark Grubb Knight Frank’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, Newmark Grubb Knight Frank serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark Grubb Knight Frank is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.