With Cambridge rents at historic highs, tenants are increasingly being drawn to inner suburban areas like Watertown, and more specifically to buildings that can create a Cambridge-like experience – brick and beam space, transit accessibility, and walkable amenities. Such selling points – all of which The RMR Group offers at 9 Galen Street, Watertown – have recently attracted both Core States Group and Socomec, Inc. to the property. At 4,500 and 5,700 square feet respectively, the two tenants will both relocate from Cambridge in the coming months and build upon 9 Galen Street’s increasingly dynamic, multi-tenanted environment. Cresa’s John Coakley represented Core States Group while Patrick Verbeke from KW Commercial represented Socomec, Inc.
Colliers representatives for The RMR Group, president James Elcock, executive vice president John Carroll III, senior vice president Bill Lynch, vice president Jason Rexinis, and associate Nora Smith, have been able to successfully market the Riverbend property, showcasing its upgraded lobbies, new fitness center, shared conference space and training center, abundant surface and garage parking, and other modern infrastructure and amenities. The building also benefits from public transportation access immediately at its front door and a prime location in Watertown Square, home to numerous walkable restaurants, shops and convenience amenities.
“Activity has been incredibly strong at 9 Galen Street,” noted Rexinis. “It embodies so many of the characteristics that today’s tenant desires and will likely continue gaining momentum until lease-up is complete.”
About Core States Group
Core States Group (CSG) is a professional service firm providing an Integrated Program Delivery method in house: Architecture, Interior Design, Engineering (MEP, Structural and Civil), Program Management, Development Services, Construction Management, Construction Services and Brand Management. With over 14 offices throughout North America, CSG builds national and regional programs for a variety of markets including hospitality, restaurant, retail, corporate, banking, sustainability, fueling and more.
About The RMR Group
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that was founded in 1986 to invest in real estate and manage real estate related businesses. RMR's business primarily consists of providing management services to four publicly owned real estate investment trusts, or REITs, and three real estate operating companies. As of March 31, 2017, The RMR Group LLC had approximately $27.6 billion of total assets under management, including more than 1,400 properties, and employed over 475 real estate professionals in more than 35 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 53,000 employees.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry-leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 12 consecutive years, more than any other real estate services firm.