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CBRE/New England executes 50,000 s/f lease to Whole Foods for Atlantic Management

CBRE/New England executes 50,000 s/f lease to Whole Foods for Atlantic Management

NEW ENGLAND REAL ESTATE JOURNAL – According to CBRE/New England a new 50,000 s/f lease has been executed on behalf of Atlantic Management, with Whole Foods Market, Inc. at 200 Forest St. within Marlborough Hills. The nationally and internationally proclaimed grocer’s New England presence is strong and continues to show exponential growth in the region. Whole Foods will service the New England region from the new building. This location will provide a convenient and centrally located headquarters for its employees and stores. Whole Foods operates 467 stores in the U.S., Canada and the U.K. One of the highlights of the new office location will be a commercial-grade test kitchen amongst a variety of other amenities for employees to utilize a expand their store offerings.

“Atlantic Management looks forward to working with Whole Foods to create a world-class environment for their new corporate office location,” said Joe Zink, president and CEO of Atlantic Management. “With over $300 million invested into campus upgrades including new office, lab, residential, hotel and retail development. Marlborough Hills is being transformed into one of the most desirable suburban office parks in Greater Boston. We are confident that Whole Foods will thrive in this environment.”

The Dartmouth Company’s Scott Black and CBRE/NE’s Bob McGuire and Andy Majewski represented Whole Foods in this transaction. CBRE/NE’s Rob Walles and Alison Powers represented the landlord, Atlantic Management. To date, the team has leased over 500,000 s/f in 24 months at the office campus.

With the Whole Foods lease, 200 Forest St. at Marlborough Hills is fully leased. Next in line for redevelopment at Marlborough Hills is a 160,000 s/f stand-alone building located next to 200 Forest St. at 2 Results Way, which can be expanded to over 400,000 s/f and is well suited to accommodate both office and life science uses. Marlborough Hills is located in a centralized suburban market with convenient highway access and proximity to all major highways (I-90, 93 and 495 as well as Rtes. 9 and 3). This convenient location is central for all other states in the region and will significantly improve employee commute times, making way for easier transit access between the corporate office and retail locations throughout New England.

Marlborough Hills is one of the area’s most sought-after redevelopment sites due to strong, well-capitalized ownership that has reinvested over $42 million into the project since purchasing the site. Improvements include base building upgrades such as a new façade and improved building systems, as well as the addition of on-site amenities such as a cafeteria, fitness center and more. There are two other major tenants in the office building, GE Healthcare and Quest Diagnostics laboratory space. Office park amenities include a brand new hotel with conferencing facility and restaurant, as well as a strong residential community known as Avalon at Marlborough. Retail amenities, including a daycare center, are scheduled to open in 2017.

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc. a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

This article originally appeared here.

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