Boston, MA Newmark Knight Frank (NKF) and Paradigm Properties completed a lease expansion for Piaggio Fast Forward (PFF) at RS 56. Located at 52-56 Roland St., PFF will increase its current 6,000 s/f of office space to 20,000 s/f. NKF senior managing directors Ryan Weber and Jason Cameron with director Joe Pearce represented Paradigm Properties in the lease negotiations.
PFF is the latest company to choose RS 56 for its brick and beam environment, location and ability to meet the needs of technology and life science tenants.
“Our employees enjoy the proximity to public transportation and the dynamic vibe at RS 56,” said Jeffrey Schnapp, CEO of PFF. “The size, privacy of our own two-story building and a quasi–industrial space fit our culture, making it an easy choice to expand within the campus, and enhance our presence in Boston.”
Paradigm purchased RS 56, the three-building, multi-tenant, class B office/flex property located near Sullivan Sq. in 2015, and has since implemented a capital improvement project returning the buildings to their original brick and beam shells. The campus offers roughly 154,000 s/f of open floor plans on a 4.5-acre site within close to downtown, Union Sq., Assembly Row, Rte. 93 and public transit.
New amenities at RS 56 implemented by ownership include fiber optics, a fitness center, outdoor courtyard, free parking, on-site property management, and lunch service provided by Fooda and LeanBox.
PFF was founded in 2015 by the Piaggio Group, Europe’s leading manufacturer of light vehicles, whose portfolio includes such brands as Vespa, Aprilia, and Moto Guzzi. PFF’s mission is to revolutionize how people and goods move around 21st century cities by designing, developing, and manufacturing new kinds of vehicles.
“Paradigm Properties has dramatically transformed these properties, of which only two suites remain, to meet the needs of today’s tech and life science tenants,” said Weber. “It is a direct result of their vision and commitment that the property has experienced such significant demand. Firms like Piaggio Fast Forward, Redfin, Atlas Devices, Finally Light Bulbs, and Ecologic, are all drawn to the modern amenities and workplace environment of RS 56.”
Founded in 1997, Paradigm Properties, LLC is a full service commercial real estate company, providing clients with a comprehensive and expandable suite of services that include asset management, property management, consulting and workout assistance, leasing management, and development services. Through its investment management affiliate, Paradigm Capital Advisors, LLC, Paradigm currently owns and manages more than 6 million s/f of office and industrial space in the northeast, mid-Atlantic, and mid-west through its offices in Boston, MA, Columbus, OH, and Hartford, CT.
Newmark Knight Frank (NKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. NKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services.
