Berkeley Investments has executed a lease with LittleFoot Energy, Inc. for 2,788 s/f at the Watch Factory Offices.
Kevin Poulson, chief executive officer for LittleFoot Energy, said, "LittleFoot was drawn to the Watch Factory because it supports our corporate image of optimism and sustainable capitalism. As a next generation energy management company we are excited and proud to be a part of the revitalization of the Watch Factory, honoring its roots as a state of the art and revolutionary manufacturing facility and symbol of economic prosperity, but with 21st century styling and a sustainable twist".
Berkeley Investments was represented by Eric Ekman, project manager, and Steven Brooks, vice president of asset management. LittleFoot Energy Inc. was represented by Dan Krysiak of Grubb and Ellis.
LittleFoot Energy is committed to addressing the specific heating and cooling challenges that an organization faces in their facility or manufacturing process. LittleFoot Energy is a team of engineers and consultants with experience in the energy industry that will work with an organization to deal with the unique goals of their operation. LittleFoot Energy is the only company offering this unique systemic approach to guaranteed energy performance with the ability to fund infrastructure improvements through energy savings.
Opening in 1854 and operating at the site for a century, the Waltham Watch Company became the first watch manufacturer in the world to mass produce a complete watch under one roof and make quality watches affordable to a broader population. Berkeley Investments is now transforming the 400,000-square-foot historic complex into a vibrant mix of offices, loft-style apartments and retail uses with riverfront amenities. Phase 1 consists of 160,000 square feet of newly renovated brick and beam office space, which is now 47% leased. Completed improvements provide new building systems, modern finishes combined with attractive historic features, sandblasted brick walls and exposed wood ceilings. The property also offers a fitness center, a Waltham Watch Company history exhibit and landscaped courtyards with walkways and seating areas that create a campus-like environment.
Phase 2 of the project will provide 96 loft style apartments, a café and a restaurant. Construction is underway and will be completed in late 2011. Phase 3, targeted for a 2011 start, will include the renovation of an additional 77,000 square feet of office space and a structured parking garage.
The Watch Factory is located less than two miles from the Massachusetts Turnpike, less than three miles from Route 128/I-95 and within walking distance of the Waltham Commuter Rail Station on Moody St. Bus routes pass by the property and Berkeley Investments has partnered with the 128 Business Council to offer a shuttle bus to nearby Commuter Rail Stations. Phase 1 has over 535 surface parking spaces available for office tenants. The Watch Factory is also located within walking distance of "Restaurant Row" and other amenities on Moody Street and has direct access to the Charles River walking and bike path.
Berkeley Investments is a real estate investment, development and asset management company with a focus on urban commercial and mixed-use properties. Berkeley Management, an affiliate of Berkeley Investments, will provide on-site property management and maintenance services. Berkeley Investment's reputation is built upon its hands-on management focus, skills as a value-based investor and regional market penetration and expertise.