Newmark Grubb Knight Frank (NGKF) is pleased to announce that Mike Frisoli, executive managing director, and Pete Whoriskey, managing director, recently completed seven new lease extensions totaling over 70,000 square feet on behalf of Grander Capital Partners (GCP) at 300 & 2300 Crown Colony Drive in Quincy, Massachusetts.
Both part of Crown Colony Office Park, 300 Crown Colony Drive is a five-story, 116,652-square-foot office building situated in the center of the office park. The property features a five-story atrium with arched skylights and oak, granite and marble finishes, a cafeteria as well as a shuttle bus service. 2300 Crown Colony Drive is a three-story, 45,596-square-foot office building, also within the Crown Colony Office Park. Both properties also have access to the office park’s amenities, which include a day-care center, ATM machine as well as a full-service Marriott hotel located within the park.
“After acquiring these two assets, we made it our top priority to retain the tenants in the buildings, as they’ve been such an integral part of the success there, and to keep those relationships going for the foreseeable future,” said Ted Norberg, founding partner at GCP. “We couldn’t have done that without the assistance and guidance from our leasing team at NGKF.”
At 300 Crown Colony Drive, Clifton Larson Allen, a leading accounting firm nationally, was the first tenant to renew, which created a trickledown effect as one of the largest law firms in Massachusetts, Murphy, Hesse, Toomey & Lehane, LLP followed suit. Another law firm Baker, Braverman & Barbadoro, P.C, expanded and extended their existing lease along with Forsythe, who is one of the largest independent IT integrators in the North America.
GCP recently purchased 2300 Crown Colony Drive in March 2016, which has paid off instantly with the long term renewal of anchor tenant Work ‘N Gear, the largest U.S. retailer in work apparel, as well as the expansion/renewal of South Shore Plastic Surgery and Boston IVF.
“With such a strong retention rate of the tenants, it really speaks volumes to the quality of the assets that GCP has in the marketplace and we’re all excited about keeping the momentum going at both buildings,” said Whoriskey.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
About Grander Capital Partners
Grander Capital Partners (“GCP”), is a Boston-based real estate investment and management company. Founded in 2011, GCP maintains offices in Boston, MA, Baltimore, VA, and Dallas Texas. Combined, they maintain over 1.5 million square feet of real estate holdings in the New England, Mid-Atlantic, and Texas markets. Their portfolio consists of Class A office, flex/industrial, and medical office space. For more information, please visit www.grandercapital.com.