Campanelli, TriGate Still Leasing in No. Quincy

QUINCY — Anyone thinking Campanelli and TriGate left North Quincy in their rear view mirror after last autumn’s sale of Heritage One and Heritage Two might have forgotten the partnership buying those aging office buildings in June 2013 for $16.3 million added an adjacent property to the mix 15 months later, paying $8.6 million for 160,900 sf at 108 Myrtle St. The 30-yearold
building since branded Heritage Point is now enjoying a similar lease-up seen at Heritage One where its hands-on owners parlayed MBTA Red Line access prized by new-age talent with transformational physical upgrades and other attractions to draw quick reaction from sticker-shocked tenants in downtown Boston and Cambridge where rents had just begun skyrocketing, and continue to climb as midyear of 2017 nears.

Already home to the likes of Healthcare Financial, State Street Bank and Windstream, nearly 20,000 sf more has now been filled at Heritage Point, the commitments from a pair of firms who occupy space in the Hub, the larger being 13,000 sf where a company providing business and recruitment services to the clinical research realm is  departing its Boston quarters and another office in Canton. ClinEdge will relocate to the second floor at Heritage Point in late summer, whereas venerable civil engineering concern Fuss & O’Neill is already moving over from its Dorchester venue to a 6,000-sf suite on the fifth floor.

“The value at Heritage Point is unrivaled on the South Shore, making our decision to relocate an easy one,” ClinEdge President Christian Burns offers in a prepared statement provided Real Reporter. “I am excited to merge our Canton and Boston teams,” Burns continues, “and confident that the great location and Red Line access will be key for recruiting new employees as ClinEdge continues to grow.” Details of either pact regarding financial aspects and other specifics were not provided by the parties involved in two separate negotiations. Campanelli Director of Leasing Peter Brown collaborated with Newmark Knight Frank in that CRE firm’s role as exclusive agent of Heritage Point, a team led by Michael Frisoli and Tyler McGrail representing Campanelli and TriGate along with NKF downtown broker David Martel.

Travis Sachs and Carmella Laurella of CL Properties advised ClinEdge and Whit Osgood brokered terms for Fuss & O’Neill, a Connecticut firm that has offices in West Springfield and four other New England cities, operations with some 280 professionals staffed at the contingent founded in 1924. The move is from fairly near by Heritage Point, F&O’s expiring Boston lease at 50 Redfield St., another multi-tenanted office building just across the Neponset River from North Quincy.

“Seeing respected companies settle at Heritage Point gives us a a great amount of pride,” Campanelli partner Daniel DeMarco says of the transactions. “Our team has worked hard to create a workplace on the South Shore that is attractive to all types and sizes of firms,” and he credits “exceptional amenities” including the Red Line access, as “the key to our success.”

Besides the transit-oriented cachet, a multi-million dollar renovation at Heritage Point has produced collaborative areas, shared conference room, modern fitness center, full-service cafe and a private deck with water views that is accessible to tenants. The lobby and grounds have also been refreshed by a partnership which earlier this year took on another reclamation project south of Quincy in Stoughton following its purchase of the former Reebok headquarters there, a $9.0 million deal negotiated by NAI/Hunneman.

“Extensive renovations and a vibrant amenity package” are pieces of the strategy to revive 100 Technology Center Dr., Campanelli explains regarding a first-class, 186,000-sf building custom-designed for the athletic shoe manufacturer. Such a value-add enterprise is among its “signature capabilities,” Campanelli relays as the vertically integrated operation marks 70 years in what is now a third-generation firm also fluent in land development, design/build and facilities management.

Approximately a dozen miles from Heritage Point and 17 miles from Boston and Cambridge, Campanelli/TriGate is already knee deep in a fast-track overhaul of the gleaming suburban structure
at 100 Technology Center Dr., an ambitious upgrade similar to Heritage Landing—the two buildings which fetched $63.9 million last autumn—and there are other common aspects of those two projects, with Frisoli and McGrail also engaged as exclusive agents for that building in an assignment also working alongside Brown. On top of Heritage Point, they were also the contingent which led the lease-up at Heritage Landing, 358,000 sf of space which the NKF Capital Markets team had initially produced Campanelli/TriGate as the winning bidders of the buildings and then advised
them in last autumn’s disposition to separate buyers.

Source: The Real Reporter