NKF and Paradigm Properties Secure Lease Expansion for Piaggio Fast Forward at RS 56 in Boston

10/11/17

Only Two Suites Remain at the Three-Building Tech Driven Complex

Newmark Knight Frank (NKF) and Paradigm Properties are pleased to announce the completion of a lease expansion for Piaggio Fast Forward (PFF) at RS 56. Located at 52-56 Roland Street in Boston, PFF will increase its current 6,000 square feet of office space to roughly 20,000 square feet. NKF Senior Managing Directors Ryan Weber and Jason Cameron with Director Joe Pearce represented Paradigm Properties in the lease negotiations.

Piaggio Fast Forward (PFF) was founded in 2015 by the Piaggio Group, Europe’s leading manufacturer of light vehicles, whose portfolio includes such iconic brands as Vespa, Aprilia, and Moto Guzzi. PFF’s mission is to revolutionize how people and goods move around 21st century cities by designing, developing, and manufacturing new kinds of vehicles. PFF is the latest company to choose RS 56 for its brick and beam environment, location and ability to meet the needs of technology and life science tenants.

“Our employees enjoy the proximity to public transportation and the dynamic vibe at RS 56,” said Jeffrey Schnapp, CEO of PFF. “The size, privacy of our own two-story building and a quasi–industrial space fit our culture, making it an easy choice to expand within the campus, and enhance our presence in Boston.”

Paradigm Properties purchased RS 56, the three-building, multi-tenant, Class B office/flex property located near Sullivan Square in 2015, and has since implemented a capital improvement project returning the buildings to their original brick and beam shells. The campus offers roughly 154,000 square feet of open floor plans on a 4.5-acre site within close proximity to downtown Boston, Union Square, Assembly Row, Route 93 and public transit. New amenities at RS 56 implemented by ownership include fiber optics, a fitness center, outdoor courtyard, free parking, on-site property management, and lunch service provided by Fooda and LeanBox.

“Paradigm Properties has dramatically transformed these properties, of which only two suites remain, to meet the needs of today’s tech and life science tenants,” said Weber. “It is a direct result of their vision and commitment that the property has experienced such significant demand. Firms like Piaggio Fast Forward, Redfin, Atlas Devices, Finally Light Bulbs, and Ecologic, are all drawn to the modern amenities and workplace environment of RS 56.”

Two suites remain available at RS 56 including a 4,000-square-foot suite and a 3,871-square-foot suite.

About Paradigm Properties

Founded in 1997, Paradigm Properties, LLC is a full service commercial real estate company, providing clients with a comprehensive and expandable suite of services that include asset management, property management, consulting and workout assistance, leasing management, and development services. Through its investment management affiliate, Paradigm Capital Advisors, LLC, Paradigm currently owns and manages more than 6 million square feet of office and industrial space in the northeast, mid-Atlantic, and mid-west through its offices in Boston, MA, Columbus, OH, and Hartford, CT.

About Newmark Knight Frank

Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF'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.

NKF 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 www.bgcpartners.com.

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