CBRE/New England today announced that 180 Wells, owned by an affiliate of Intrum Corp. Real Estate Management and Development, has made significant progress on the repositioning of the Newton asset. The two-phased project revamps the current building and includesthe construction of an adjacent Class A office building for a total of ±116,000 RSF.Upon completion, 180 Wells will offer prospectsdistinct branding opportunities, modern amenities and ample parking on more than five acres.
“The new 180 Wells fills a void in the 5,000-20,000 SF tenant market by providing modern, vibrant and a ‘life-charged’ work environment,” noted byIntrum’s ownership team.“Market response to the project has been strong. The energy at 180 Wells has been visible by prospective tenants, as evidenced by a recent 8,500 RSF lease signing.”
CBRE/NE’s Rob Kinlin and Alex Plaisted spearhead the leasing efforts for this assignment.
“Intrum has set out to create an environment designed around todays tenant by providing high ceilings, rich woods, stone, outdoor ping pong and the central courtyard that serves as the heart of this asset,” stated CBRE/NE’s Kinlin.“180 Wells provides atruly authentic experience for discerning users looking for a collaborative, inclusive and dynamic environment to operate their companies in.”
Phase I is in progress with completion slated for Q2 2017. The existing three-story, 55,000 SF buildinghas been entirely reskinnedwith anElkusManfredi-designed floor-to-ceiling glass curtainwall façade system, illuminated decorativefinandedgycommon areas and finishes. Phase I also includes the addition of a central-tiered courtyard featuringgas fire pits, integrated seating, interior recharge lounge, fitness and substantial indoor and outdoor collaboration areas, all of which provide adynamicworkingenvironment.
Phase IIincludesthe addition of a new three-story, 60,000 SF Class A office building, which provides flexible build-to-suit opportunities for prospects seeking occupancy in 2018. Both buildings will interconnect via a glass-walled three-story lobby surrounding the central outdoor courtyard. Private tenant terraces, ±20,000 SF floor plates and an abundance of natural light are just a few of ElkusManfredi’s carefully planned building attributes.
Located a mere 11 miles from downtown Boston, Newton’s 180 Wells is immediately accessible via the 2016 addition of the Kendrick Street exit. Nearby amenities include area hotels, new apartment communities, fitness/recreational clubs, restaurants, shopping, banks, dry cleaning and other service retail. For further information and to take a virtual tour of Newton’s hottest workplace destination, check out the new complimentary180 Wells iPad app, now available in the Apple Store.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
