Cushman & Wakefield is pleased to announce that Cambridge Savings Bank has leased 76,000 square feet at 81 Wyman Street in Waltham, Massachusetts. Cambridge Savings Bank is consolidating its back-office locations from Cambridge and Arlington into this new operations center while retaining its corporate headquarters in Cambridge.
“We believe optimizing our infrastructure is important to our continued growth, and space needs are imminent in our current back-office locations,” said Wayne Patenaude, CEO and President of Cambridge Savings Bank. “Our employees are very excited about coming together in one location where project collaboration will be easier and where we can build an even stronger corporate culture.”
81 Wyman Street is part of the 2 million-square-foot Hobbs Brook Park located in the heart of the Route 128 business corridor. Offering prominent visibility from Route 128, 81 Wyman Street is a three-story building that joins a campus of new LEED certified buildings. Hobbs Brook Management is working with architectural firm Vision3 on a complete renovation of the former Thermo Electron headquarters building. Cambridge Savings Bank along with its architectural firm, SMMA, is designing the interior space to meet the forward-thinking WELL standard. A light-filled atrium will connect all floors, and the space will be rich with amenities, including a fitness center, yoga studio, outdoor patio and an open and transparent office environment that supports various work styles and meeting options.
“We are thrilled to welcome Cambridge Savings Bank to the Hobbs Brook family,” noted Tom Dusel, President and CEO of Hobbs Brook Management. “We look forward to a long and successful relationship.”
“This is an important consolidation project in what will arguably be the highest-quality office space on Route 128,” said Brian Hines, Vice Chair at Cushman & Wakefield. “Cambridge Savings Bank has made a strategic move, and we were happy to be an advisor in this process.”
Cushman & Wakefield’s Hines, Managing Director Ryan Romano and Vice Chair Peter Joseph worked alongside Dan Fraine, Facilities SVP, representing Cambridge Savings Bank. The building owner, Hobbs Brook Management, was represented by Managing Director Chip Bachelder of Wyman Street Advisors who worked alongside Kevin Casey and Trish Holland of Hobbs Brook Management.
Cambridge Savings Bank has retained Cambridge-based SMMA to design its new facility. “SMMA’s partnership with CSB dates back nearly four decades, so it’s no surprise to see them embrace state-of-the-art ideas when it comes to their real estate solutions,” said Ara Krafian, President and Chief Executive Officer of SMMA. “CSB leadership is unambiguous as they take a progressive approach to their new operations center, which promises to be a center of excellence.”
Cushman & Wakefield’s Boston office provides a complete suite of commercial real estate services for the entire lifecycle of properties and portfolios.
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service financial institution with approximately $3.7 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Newton, and Watertown. www.cambridgesavings.com
About Hobbs Brook Management LLC
Because the most valuable asset developed is a relationship, Hobbs Brook Management focuses its efforts on satisfying the individual needs of customers that lease within its parks. A service-oriented provider of Class A business solutions to companies large and small, Hobbs Brook builds sustainably, maintains an on-site facilities management staff, and develops or renovates projects for energy efficiency, LEED certification, and the preservation of the local environment. With portfolios in Massachusetts, Rhode Island, Georgia and Illinois, Hobbs Brook offers competitive amenities, on-site catering and dining facilities, fitness centers, and a full-service conference center to tenants and the public. Hobbs Brook enjoys a steady occupancy rate in the 90th percentile and holds firm to the belief that tenants should feel secure, well-balanced and prevalent at work. For leasing options or additional information, please visit www.hobbsbrook.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Wyman Street Advisor
Wyman Street Advisors was founded on the ideals of personal service, long-term relationships, unbiased advice, and market intelligence. Our professionals average 18 years in the industry, and deliver demonstrated solutions untainted by the quest for the next commissionable transaction or quick deal. Rather, our client relationships are primarily advisory in nature and long term. It is our goal to be involved in the evaluation, strategic planning, and execution of your real estate strategy, and to collaborate with clients who value our advice and consult with us regularly.