èmes wins CBA Deal of the YearWALTHAM, Ma According to Hobbs Brook Management LLC, together with Wyman Street Advisors and Jones Lang LaSalle, the lease with Dassault Systèmes at 175-185 Wyman St. was named "Suburban Office Deal of the Year" by the Commercial Brokers Association (CBA).
Recently recognized as the largest office lease in suburban Boston in 2010, the 335,000 s/f, 12-year lease for the LEED Gold-certified buildings on Rte. 128, changed the real estate landscape in Greater Boston, serving as a flashpoint in this important submarket recovery.
"Due to the economic conditions in Boston over the past few years, coupled with challenging site and permitting constraints, and the surplus of office space available in the current market, this project had odds stacked against it from the beginning. Winning such a prestigious award against these odds makes this particular recognition that much more significant for us," said Charles Batchelder, managing director of Wyman Street Advisors. "Together with Hobbs Brook Management and Jones Lang LaSalle, our goal was to provide the best possible solution for Dassault Systèmes' new U.S. headquarters. We are pleased to share this honor with the entire project team."
The Dassault Systèmes site selection process, directed by Jones Lang LaSalle executive vice president and national director Brendan Callahan, and managing director Alex Dauria, was rigorous to include over 20 locations stretching from Boston to Rte. 495. 175-185 Wyman St. stood out from four finalists because of its location, large floor plates (95,000 s/f), efficient interior, and five-star dining facility consisting of a 5,424 s/f, food-court style corporate dining facility in the 175 Wyman St. building. Amenities include an outdoor patio and a café at a satellite location for the shoulder periods in the 185 Wyman St. building next door.
"Jones Lang LaSalle is proud to be honored with this award, particularly because it was voted on by our peers in the CBA. It is a testament to the faith that Dassault Systemes placed in our firm, people, platform and processes," said Callahan. "It also represents the unique match they had with Hobbs Brook Management after a rigorous search across the Greater Boston landscape."
Both the landlord and the tenant are champions of sustainability, and green operations were a critical decision factor in securing the deal. Satisfying this criteria, the class A office project earned LEED Gold Certification and Innovation in Design credits in all five categories.
"Working within existing zoning ordinances, and closely with town officials and the neighbors, Hobbs Brook did not run up against the obstacles that previous buyers experienced. The result is not only a green, sustainable, tax-paying office complex, but also a representation of the future of development in market-leading Waltham. It's a prime example of the forward thinking and overall commitment of Hobbs Brook Management," said mayor Jeannette McCarthy. "Hobbs Brook had the foresight to proceed with its plans despite the uncertain economic climate. Due to their persistence, they continue to lead the way in the suburban Waltham office market."
The CBA Awards Ceremony took place at the Intercontinental Hotel on March 3rd.
About Hobbs Brook Management LLCAs both owner and operator, Hobbs Brook Management LLC is committed to providing its tenants and their employees with a reliable and fully functional business environment. For leasing information, please visit www.hobbsbrook.com.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with more than $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
About Wyman Street Advisors
Wyman Street Advisors is a leading real estate firm that delivers tailored solutions and know-how over cookie cutter strategies. Our approach to each assignment and every transaction creates value for our clients. Our focus is long term and not transaction driven. To learn more, please visit: http://www.wsarealty.com