By Corina Stef
Cresset Development signed a 14,450-square-foot lease at 65 Grove St. in Watertown, Mass., with biotechnology company Lyndra, which will occupy space on the third floor. The tenant relocated its headquarters from 134 Coolidge Ave., situated just ten minutes away. NGKF Executive Managing Directors Phil Giunta and George Nugent and Senior Managing Director Dan Krysiak acted on behalf of the owner, while Commonwealth Standard Realty represented the tenant.
“This location offers Lyndra the ability to expand its office/lab space in a newly renovated building, but to remain in the same neighborhood,” Giunta said in a prepared statement.
The 120,000-square-foot building encapsulates office, medical, R&D and life science space throughout three floors. It was built in 1945 and, according to YardiMatrix data, it was completely renovated in 2016, with new common areas and a new facade, HVAC systems, mechanicals, electrical systems and roof. Further amenities include 12-foot-high ceilings, large floor plates, interior bike storage, a landscaped courtyard and a parking structure with 390 parking spaces.
The asset is minutes away from the new Watertown Greenway Bike Trail, Atrium School and restaurants, and it is close to Cambridge and Downtown Boston. It also offers easy access to Arsenal Street, Storrow Drive, Massachusetts Avenue, Harvard Square, Memorial Drive and Newton Corner. Tenants include Tufts Health Plan, AthenaHealth, NESN, Tetraphase Pharmaceuticals and Forma Therapeutics.
Image courtesy of NGKF