Recent Leasing Activity Brings Boston’s 711 Atlantic Avenue to 100% Leased
Wednesday, October 22, 2014
CBRE/New England Contact:
Recent Leasing Activity Brings Boston’s
711 Atlantic Avenue to 100% Leased
Meritage Properties, Ivy Realty and CBRE/NE secure three tenants
BOSTON (Oct. 22, 2014) — On behalf of Meritage Properties and Ivy Realty, CBRE/New England announces that three leases at 711 Atlantic Avenue in Boston have brought the building to 100% occupancy. Smart Destinations (10,702 SF), GenomeQuest (5,020 SF) and Datadog (3,186 SF) all signed leases at the building this year.
CBRE/NE’s Bill Crean and Jon Freni represented the ownership team in all of the transactions. Colliers International’s Larry Epstein represented Smart Destinations, a provider of multi-attraction passes for travelers. Newmark Grubb Knight Frank’s Jason Cameron and Ryan Weber represented GenomeQuest, a search engine for life science companies to search worldwide patent literature for DNA and other biological sequences. Transwestern RBJ’s Jared Pimm and Ron Friedman represented Datadog, a monitoring service that brings together data from servers, databases, applications, tools and services to present a unified view of the infrastructure.
“We acquired 711 Atlantic Avenue due to its excellent location and unique brick and beam character,” noted Andrew Nathan, CEO of Meritage Properties. “We are thrilled to have built such a diverse tenant roster for the building with the help of CBRE/New England.”
711 Atlantic Avenue is one of Boston’s ﬁnest brick and beam office buildings located directly across from South Station. Constructed in the late 1800s, the property underwent a full renovation in 2003 that included the complete modernization of the property while carefully preserving its unique and desirable brick and beam character. More recent updates include a lobby renovation. The building’s high-proﬁle storefront and wide sidewalks makes its street and lower levels particularly well-suited for restaurant use, a concept which would add substantial value given the building’s unique location in a growing 24-hour neighborhood.
About Meritage Properties
Founded in 2003, Meritage Properties (www.meritageprop.com) is a value-oriented owner operator of mid-sized properties, primarily focused on the Boston to Washington, D.C. corridor. Meritage seeks value creation through selective acquisitions, hands-on property repositioning, disciplined operating principals and focused asset and property management. Since inception, Meritage has acquired interests in over 3 million square feet of office space and approximately 500 residential units. Meritage now manages three fully invested multi-property investment vehicles and continues to seek acquisition opportunities on a co-investment basis with a select group of institutional co-investment partners. For more information, visit www.meritageprop.com.
About Ivy Realty
Ivy Realty is a Greenwich, CT-based real estate investment, development and management company with a portfolio exceeding 5.5 million square feet of office, industrial, multi-family and retail properties. Ivy invests on behalf of institutional, discretionary funds in value-added investments in the Northeast U.S. and Southeast Florida. For more information, visit www.ivy-realty.com.
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 (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.