Silicon Valley Bank has signed a lease for 32,152 s/f of first class office space in 275 Grove St. at Riverside Center. The second floor of building 2 will serve as the diversified financial services company's New England headquarters. Occupancy is scheduled for September 1st. Silicon Valley Bank is relocating from One Newton Executive Park.
Jones Lang LaSalle managing directors Phil DeSimone and Alex Dauria negotiated the 10-year lease representing Silicon Valley Bank as the tenant, while Jones Lang LaSalle senior vice president Keith Gurtler and assistant vice president Brendan Cohn represented owner Equity Office Properties. Jones Lang LaSalle's project and development services, and construction teams were awarded the project management and construction management assignments.
"For 20 years, Silicon Valley Bank has operated its northeast headquarters from several properties along Route 128," said Silicon Valley Bank Regional Manager James Maynard. "As we grew, we were interested in remaining in this centralized location in order to best serve our technology and life science client companies along Route 495, Route 128, and in greater Boston and Cambridge. This property offers and ideal location for our future."
Riverside Center is a 500,000 square foot suburban office campus adjacent to Riverside Station. It combines modern construction and easy access in an amenities rich location. The Center is highly visible at the crossroads of the Mass Pike and Route 128, and set off the road on Grove Street. Three high-performance buildings are connected by a sweeping four-story glass atrium that extends the length of the main building. The grand foyer provides a streetscape setting with Rebecca's Café, bistro style seating, a central water feature and a fitness center. There is underground, structured and surface parking for more than 1,500 over cars.
Other Riverside Corporate Center tenants include: TechTarget, McKesson Corporation, Rocket Software, Harvard Vanguard Medical Associates, UGL Unicco, and Regus Business Centers.
"Silicon Valley Bank is very pleased with Riverside Center's location and its quality campus environment," said Jones Lang LaSalle's DeSimone. "The highly efficient space will be custom designed to meet their immediate and future needs."
Steven Wassersug of the Jones Lang LaSalle Construction team will serve as Project Executive. Joining him will be Senior Construction Manager Josh Hines, Senior Superintendent Kevin Mealey, and Estimator Cadman Corbett. The Project Manager will be Jones Lang LaSalle Vice President Kirstin Brown working with Scott Baranyi.
About Silicon Valley Bank
Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Jones Lang LaSalle is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.