On behalf of KBS Realty Advisors, CB Richard Ellis/New England arranged four leases totaling 38,736 s/f at 625 Mount Auburn St. The three-story office building, purchased by KBS Realty Advisors in 2007, recently inked two new long-term leases with Mount Auburn Hospital totaling 6,781 s/f on the first floor, as well as a lease with HDS Architects for 2,250 s/f on the second floor. The fourth lease was a renewal and expansion signed by Charles River Associates as they increased their presence on the third floor for a new total of 29,860 s/f.
"As exclusive leasing agent we're pleased to accommodate the growth of these three excellent tenants at 625 Mount Auburn St.," said Robert Fitzgerald of CBRE. "On top of attracting HDS Architects, we're very fortunate to have retained both Mount Auburn Hospital and CRA as we continue to accommodate their growing business needs."
The CBRE team of Robert Fitzgerald, senior vice president/partner, and Adam Brinch, associate, facilitated direct deals with Mount Auburn Hospital and HDS Architects. CRA was represented by Curtis Cole, senior vice president/partner at CBRE, while Fitzgerald and Brinch represented the landlord.
Constructed in 1963, 625 Mount Auburn St. features 134,000 s/f of class B office space on Rte. 16. Less than one mile from the Rte. 2/Rte. 3 interchange, the building features neighboring amenities such as the Mount Auburn Club, Fresh Pond Golf Course, the Charles River, and numerous area retail services. 625 Mount Auburn St. was completely redeveloped in 2000 including a two-story atrium lobby with café seating and natural light. Tenant spaces have been built-out to a high level of finish and are very desirable to technology-based companies. Many units showcase exposed ceilings and open floor plans creating collaborative work environments. The property also has a spacious on-site fitness center with locker rooms and shower facilities, a shared conference center, and food service in the lobby. Furthermore, 625 Mount Auburn Street was recently awarded an Energy Star for superior energy efficiency by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE).
About KBS Companies
Founded by Peter Bren and Charles J. Schreiber, Jr. in 1992, KBS is one of the nation's largest buyers of commercial real estate and structured debt investments, having completed more than $16.5 billion in transactional volume since its inception. In October 2009, KBS was ranked by Pensions & Investments among the largest real estate managers in the nation. KBS has a strong reputation in the industry for efficient and timely closing on large and complex transactions in the office, industrial, multi-family and retail sectors. KBS also originates and acquires debt positions collateralized by stabilized and value-added properties.
About CB Richard Ellis
CB Richard Ellis 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 firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company for three years in a row. Please visit our Web site at www.cbre.com.
CB Richard Ellis' New England practice has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting.
Please visit our Web site at www.cbre-ne.com.