According to Millennium Partners, Satcon Technology Corporations has begun operations in its newly leased development and testing facility on the first floor of 21-23-25 Drydock Ave. in the city's Seaport District.
Richards Barry Joyce & Partners, LLC brokered the 19,845 s/f lease on behalf of the landlord, CV Dry Dock Avenue LLC, which is a Millennium Partners venture through its Cargo Ventures affiliate. Cargo Ventures has a long-term ground lease on the building from the city of Boston. 21-23-25 Drydock Avenue is an 820,000 s/f building located in Marine Industrial Park.
Thomas Ashe, senior vice president, of Richards Barry Joyce & Partners represented the landlord in the lease.
"23 Drydock has exactly the space we needed to move our company forward," said Daniel Gladowski, vice president of Satcon. "The location's affordability helps our financial performance and Drydock Avenue's waterfront location is a great and creative place to work." Satcon Technology Corporation is a leading provider of utility scale power solutions for the renewable energy market.
Joseph Larkin, a principal of Millennium Partners said "We are very happy to have Satcon Technology in our building; they are exactly the kind of innovative company that keeps Boston dynamic. At 21-23-25 Drydock Avenue tenants can really experience the Boston Waterfront, and, with the property's unique capital structure, we can provide great space at a remarkably low cost."
RBJ&P is the exclusive leasing agent for CV Dry Dock Avenue LLC's portfolio, which consists of 21-23-25 Drydock Avenue. Satcon Technology Corporation was represented internally.
Millennium Partners and its affiliate Cargo Ventures is a diversified real estate development company that has owned and developed more than four million square feet in Boston, including the Ritz Carlton Towers on Boston Common, the 10 St. James / 75 Arlington Street office building in the Back Bay, One Harbor in the Marine Industrial Park and179 Lincoln Street in Downtown Boston.
Satcon Technology Corporation is the leading provider of utility scale power solutions for the renewable energy market, enabling the industry's most advanced reliable and proven clean energy alternatives. For over 24 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com
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