Stoughton, MA Campanelli, a full-service commercial real estate development, acquisition and construction management company, has purchased 100 Technology Center Dr. According to public record, the property sold for $9 million. 100 Technology Center Dr., a six story, 186,000 s/f class A office building, is located at the intersection of Rtes. 139 and 24, also close to I-93/128. NAI Hunneman’s executive vice president of investment sales and capital markets’ David Ross represented the seller, H.N Groin.
NGKF’s suburban brokerage team of Mike Frisoli and Tyler McGrail will be the exclusive leasing agent for the property. The purchase of 100 Technology Center Dr. comes on the heels of Campanelli’s revitalization of the class A office campus known as Heritage Landing in Quincy. This complex underwent substantial upgrades in 2014-2016 and became one of the most sought-after properties South of Boston.
100 Technology Center Dr. will undergo a full rebranding to match Campanelli’s exciting renovation plans for the property, which will include several million dollars in upgrades to the infrastructure and common areas, a redesigned main entrance, new lobby finishes and a new café concept. Also included in Campanelli’s design is a fully renovated fitness center featuring shower and locker rooms and a spin studio with virtual ride instruction. Revitalization efforts also include the addition of meeting / conference space adjacent to the Café, allowing tenants to reserve these areas for larger group meetings, as well as designated spaces within the café for gaming such as foosball and ping pong. Exterior improvements include patio seating with free Wi-Fi, a fire pit, a grilling station with gas grills and a multi-sport court.
“This property is unique in that it offers an opportunity to lease upwards of 186,000 contiguous s/f in a corporate headquarters setting in the Rte. 128 South market,” said Stephen Murphy, partner & principal of acquisitions, Campanelli. “Our goal is to create a Best in Class space, offering businesses a complex of exceptional amenities that can’t be found elsewhere in this market.”
Appealing to a plethora of corporate, professional and non-profit entities, 100 Technology Center Dr. also offers an extensive window line, a high parking ratio and exterior signage for a major user. With typical floor plates ranging from 32,000 to 36,000 s/f, small and large businesses alike can be easily accommodated on full or partial floors. The property has a history as an executive-level location, having been built originally in 1988 as the Reebok world headquarters.
Located just 17 miles south of Boston, 100 Technology Center Dr. offers an amenity-rich, full service, first class office solution at competitive rental rates to buildings found west and north– the ultimate combination employers now demand to control costs and provide a superior working environment for their employees and guests. Just minutes from I-93, the property’s Stoughton location provides direct access to downtown Boston or a reverse commute from towns west of Boston as well as proximity to both I-95 and I-495.
“We are thrilled to have purchased a property that fits perfectly into the company’s portfolio; tenants will love the amenity rich working environment and benefit greatly from Campanelli’s hands on approach and our cutting edge renovation plans,” said Campanelli’s director of leasing Peter Brown.
Campanelli has a long history of success with transforming under-utilized properties. Campanelli completed the revitalization of Braintree’s Granite Woods Corporate Center, which underwent a major overhaul in 2007 and achieved 100% occupancy in just under a year. In May of 2016, Campanelli announced plans to renovate UPLAND, a 200,000 s/f office building in Norwood, before signing a long-term, full building lease with Moderna Therapeutics, a privately held pharmaceutical developer currently based in Cambridge.
