Just three years after doubling in size to 10,500 s/f, Education Resource Strategies (ERS) has expanded again taking an additional 3,500 s/f, bringing its total footprint to 14,000 s/f. ERS relocated to Riverworks at 480 Pleasant St. shortly after the 200,000 s/f historic mill building was acquired and renovated by Farley White Interests in 2012.
Despite having two years remaining on its lease, Boston Realty Advisors' (BRA) suburban team led by Adam Meixner and Jeremy Freid, were able to successfully negotiate the expansion and long term extension of 7 years for ERS. A great deal of creativity was involved in the transaction given the 3,500 s/f adjacent suite will not be available until 2017. The team was able to secure suite in the building for ERS to occupy until its permanent expansion space is ready.
ERS did tour other options in the market that would allow for the entire team to be together immediately. At the end of the day they felt as though Riverworks had everything they wanted and were willing to break up the suites for the short term. Shortly after signing the lease amendment ERS' president and executive director Karen Miles said, "It blends the old world charms with some of the new world conveniences and technology while keeping us close to nature."
Freid and Meixner of BRA represented the tenant in the expansion and extension while Cushman & Wakefield advised Riverworks' current ownership Spear Street Capital.
Education Resource Strategies, Inc. is a non-profit organization that works with large urban school systems to transform their resource use to dramatically improve student learning. Its mission is to be a catalyst for positive change by helping educational leaders rethink how they use system- and school-level resources—people, time, and money—to support strategies for improved instruction and performance.
Boston Realty Advisors' Central 95/Mass Pike team's primary focus is in the leasing and sales of commercial real estate in the Western Suburban market. Their success and expertise within this market has established them as one of the most prestigious and well known brokerage teams in the area. Over the last decade, the team has consistently ranked amongst the top performers in this sub-market for lease and sales transactions. What differentiates the Suburban Team from its competition is their hyper focus on a highly targeted geographic submarket, asset class, and deal size which has enabled them to develop a much deeper knowledge base and cultivate powerful relationships.