Marriott Int'l. leases 32,000 s/f at River's Edge - developed by Preotle, Lane & Assoc.

Marriott International has leased office space at 200 River's Edge Dr. John Preotle of Preotle, Lane & Associates, the developer of River's Edge, said, "We're honored to have Marriott, one of the world's great companies, at River's Edge and will continue to work hard to provide the best possible environment for Marriott." Representing Marriott in the 32,000 s/f lease at 200 River's Edge Dr. were Kerry Olson and Peter Livaditis of CB Richard Ellis. Phil Giunta and George Nugent of Grubb & Ellis represented River's Edge. River's Edge is an inner-suburban, master-planned, development in Medford, Malden and Everett, Mass. Phase I of the mixed-use development consists of 30 acres and when complete will include three contemporary office buildings with an aggregate of 410,000 s/f, 222 luxury residential apartment units and an elegant 10-acre riverfront park which houses the Tufts University Boat House. Completed to date are the award-winning riverfront park, the Tufts Boat House, and 200 River's Edge Drive, a 115,000 s/f, four-story office building, which has been LEED pre-certified at the gold level. Two additional office buildings aggregating approximately 300,000 s/f are planned. The luxury apartments being developed by Criterion Development Partners are available for lease and occupancy with final completion scheduled for early 2010. Robert Schmeck of Marriott said, "Marriott is pleased to announce its lease at 200 River's Edge Dr. We selected 200 River's Edge because it is a green building and therefore supports Marriott's commitment to environmental preservation; the building has access to public transportation; and it is located in a superior environment created by the adjoining 10 acre river-front park." Richard Howard, mayor of Malden and secretary/treasurer of the Mystic Valley Development Commission (MVDC), the public entity comprised of the cities of Medford, Malden and Everett, which has conceptualized and overseen the project, applauded Marriott's decision. "We're excited that the Commonwealth's support for this economic development project has resulted in this very unique, high-quality development and we welcome the expansion of such an outstanding company as Marriott." Michael McGlynn, mayor of Medford and chairman of the Mystic Valley Development Commission said, "We embarked on this project in the mid-90's with specific goals, to enhance the environment through the creation of a public park, to generate tax revenues, and to create jobs. Later on we added quality housing to the mix. It is very fulfilling to see how our plans have become reality, and in so many ways even better than we had envisioned! All the years of hard work and persistence have paid off."