The Davis Companies, an integrated real estate investment, development and management firm, has acquired One Cabot Rd., a 308,946 s/f office building located adjacent to the Wellington Circle MBTA station, for an undisclosed price. The Davis Companies plans to undertake a dramatic revitalization of the property in order to reposition it as a high quality, value-alternative to properties in Boston, Cambridge and the suburbs. One Cabot is currently 90% leased.
Constructed in 1989, One Cabot boasts a full-service cafeteria, fitness facility, a generous parking ratio, including 170 covered executive spaces inside the building, and abundant power and emergency systems.
As part of this acquisition, The Davis Cos. is developing plans to upgrade One Cabot's systems and common areas. Margulies Peruzzi Architects have been hired to spearhead the transformation. Peter Bekarian and Tyler Spring of Jones Lang LaSalle will be the leasing brokers.
"We've seen growing demand from tenants for amenity-rich office solutions that are close to Boston and Cambridge and readily accessible to public transportation. We believe One Cabot has genuine appeal to a wide array of tenants being priced out of Cambridge, the Financial District and the Seaport, as well as from those tenants wanting to move into the city from the suburbs," said Quentin Reynolds, managing director of acquisitions for The Davis Cos. "This submarket has benefitted from tremendous large scale investment in new projects such as Assembly Row, Station Landing and Rivers Edge, making it an engaging, convenient and highly desirable location for people to live, work and play."
Tenants at One Cabot include Agero, Expedient, Partners Healthcare and First Marblehead Corporation.
The property is located adjacent to the Wellington Greenway, a two mile path along the Mystic River providing access for running, biking, and walking. One Cabot is also less than a five minute walk from the MBTA Wellington T station and close to the dynamic and growing retail and restaurant amenities of both Assembly Row and Station Landing.
Committed to excellence in both investment performance and operations, The Davis Cos. is an integrated real estate investment, operating and management firm headquartered in Boston that has invested in nearly $3 billion in gross asset value through real estate equity, debt, and fixed-income real estate securities. A unique combination of capital markets and management expertise allows The Davis Cos. to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Cos. currently owns and manages a real estate portfolio of 12 million s/f.