Springfield Plaza - Springfield, MASpringfield, MA On behalf of Albany Road Real Estate Partners and the Davenport Companies, CBRE/New England has leased 17,369 s/f to the Massachusetts Registry of Motor Vehicles (RMV) at Springfield Plaza.
The RMV is launching a full-service branch as part of their relocation from their former downtown location at 165 Liberty St. Relocation will provide the agency with improved public transit access, ample parking and closer proximity to a wide variety of amenities including national shopping and restaurant chains. The state agency is looking to occupy in Q4 2016, estimating over $1.5 million in expenses dedicated towards tenant improvements.
Since changing hands in 2013, Springfield Plaza has realized large-scale capital improvement projects focused on revitalizing the properties venerable history. These extensive upgrades over the last two years included roof repairs and replacements, façade and canopy upgrades, lighting and parking lot improvements, improved tenant signage, expanded sidewalks and landscaping improvements.
“We’re very pleased that the considerable amount of improvements we’ve implemented continues to attract a wide range of new tenants to Springfield Plaza, and are grateful for the support of the city and the people of Springfield they have shown us during the course of this project,” said Dennis O’Donnell, investment manager for Albany Road Real Estate Partners. O’Donnell added that additional parcels are still available for development throughout the plaza. Upon completion, the new space will further enhance the shopping experience, retail traffic count and the neighborhood at large.
Davenport Advisors is the construction manager for the relocation and build-out of the RMV.
CBRE/NE is the property manager for Springfield Plaza and provides assistance with ongoing marketing efforts of events taking place at the property.