Middleburg Communities Launches SFR Developments

PUBLICATION: MULTI-HOUSING NEWS

The company is starting with four properties in the Southeast and plans more than 30 additional projects over the next several years.

Middleburg Communities has launched the first four developments of its new Single Family Rental (SFR) communities’ strategy called The Hamlet, with locations in Alabama, Florida and North Carolina. The company has another 16 projects under contract and more than 20 in its pipeline.

The first of the four to close is The Hamlet at MidCity in Huntsville, Ala., which will include more than 200 two- and three-bedroom single-family detached cottage homes and 36 one-bedroom duplexes, master-planned around shared open green spaces, community gardens and ponds.

The development, located at 1044 Old Monrovia Road NW, has an open farmers’ market green at the entrance to the property. Residents will have access to a resort-style pool, state-of-the-art fitness center, clubhouse, dog park and pet spa, grilling stations, fire pits and package lockers. Construction is slated to being at the end of this month and it is expected to be substantially completed by January 2023…READ MORE

DivcoWest Breaks Ground on a New Life Science Building at Cambridge Crossing

441 Morgan Avenue Cambridge Crossing

DivcoWest is pleased to announce that they have broken ground at 441 Morgan Avenue, a ten-story, 375,000 square-foot life science building, situated in the growing innovation hub that is Cambridge Crossing (CX), the new 43-acre mixed-use neighborhood well underway at the intersection of Cambridge, Somerville, and Boston.

Following the recently announced expansion by Bristol Myers Squibb, approximately 1.7 million square feet of commercial space at CX is currently leased. Tenants of 441 Morgan Avenue, an institutional quality lab building, will join a thriving ecosystem of innovative companies that includes Sanofi, Bristol Myers Squibb, Philips, Cerevel Therapeutics, and Thrive Earlier Detection.

“Our goal isn’t to simply create buildings, but to create an environment that supports the mission of our tenants, provides room to grow, and accelerates groundbreaking research that positively impacts lives,” said Mark Roopenian, Managing Director at DivcoWest. “We are proud to have broken ground at 441 Morgan Avenue, providing more opportunities for innovation to thrive, and thank all of the hardworking women and men who continue to bring CX to life everyday.”

Created to meet today’s highest health and technology standards, 441 Morgan Avenue is comprised of 10 lab floors plus two penthouse floors, multiple outdoor terraces with stunning views, and will utilize the newest View Glass Technology, dynamic glass designed to create a more efficient environment that improves the well-being of those within. Adjacent to CX’s centerpiece that is The Common at CX, a five-acre park, this new building also offers many ways to bring work inside out whether on its multiple terraces or in the abundance of connected green space. The life science building is designed with minimal interior columns and generous ceiling heights to allow maximum flexibility to meet the changing demands of research-focused companies. DivcoWest anticipates the building’s delivery to occur in early 2023 for tenant interior buildout.

Designed by Ennead with Jacobs Consultants as the architect of record, 441 Morgan Avenue furthers DivcoWest’s dedication to high environmental standards and is expected to achieve multiple certifications that include LEED Gold, WiredScore Platinum and WELL, emphasizing the firm’s commitment to sustainability and the health and wellness of its tenants. The building also offers superior proximity to two MBTA subway lines, access to bike storage with showers and repair stations, and three below-grade parking levels equipped with EV charging stations.

This groundbreaking marks the fifth milestone for onsite progress at CX in the past year, with 2.1 million square feet currently under construction. The event follows three topping off celebrations at 250, 350, and 450 Water Street, and the completion of CX’s standalone retail building, The Shed, now home to Will Gilson’s multiple restaurants The Lexington, Café Beatrice and Geppetto, and soon Lamplighter CX.

Offering close proximity to Kendall Square, MIT and Harvard, CX is a thoughtfully-designed, vibrant neighborhood and will be a dynamic life-science hub that inspires collaboration, innovation and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents and neighbors connected to two MBTA stations and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail and more than 2,400 residences in addition to the already 2,500 residences in close proximity.

Learn more: www.cambridgecrossing.com/441-morgan-avenue/

DivcoWest Brings REI Co-op, First-of-its-Kind Small Format Neighborhood Store to Cambridge Crossing

REI Cambridge Crossing

Industry Leading Retailer Adds to Neighborhood’s Growing List of Dynamic Retail

DivcoWest today announced it will welcome specialty outdoor retailer REI Co-op to Cambridge Crossing (CX), the new 43-acre neighborhood at the intersection of Cambridge, Somerville, and Boston. This marks REI’s first Cambridge location and the introduction of its small format neighborhood store, which will provide a curated offering of everyday outside gear, apparel, and services.

“After 34 years in Massachusetts, including 18 years in Fenway, we’re proud to grow into the city of Cambridge this fall – a neighborhood filled with outdoor enthusiasts and forward-thinking companies,” says Becky Smith, REI’s Northeast regional director. “We look forward to joining the fabric of a community that shares our belief that time outside is fundamental to a life well lived. REI is committed to connecting and supporting all members of the community to have an active lifestyle.”

The 8,000 square-foot urban concept store is slated to open this fall at 181 Morgan Avenue, on the first floor of CX’s newly constructed two-story 20,000 square-foot office and retail building. Serving nearly 579,000 lifetime members throughout Greater Boston, REI will focus on the area’s rich heritage of running and cycling. The Co-op’s other products will be carefully curated to serve those in the Cambridge community that prioritize time outside in their daily lives. Members and customers will be able to access the full breadth of REI’s merchandise on REI.com through in-store and virtual outfitting and consultation services. The location will also feature a gathering space to where members and customers can partner with REI’s local staff to dream, discover, and plan their next local outdoor adventure. REI will work closely with the CX team to host community programming outside, within the 11 acres of planned public parks and open spaces in the new neighborhood.

“REI’s reputation as a leader in outdoor expertise and commitment to investing in their communities makes them an ideal addition to the growing list of retail at Cambridge Crossing,” said Mark Roopenian, Managing Director at DivcoWest. “With an abundance of open space and a unique network of multi-use paths and interconnected walkways, CX is a neighborhood that puts health and wellness first and we couldn’t be more thrilled to partner with a company whose values and mission are aligned with the future of this growing community. CX will be the perfect home for this innovative new concept.”

REI will be conveniently located at the front steps of CX, adjacent to the new and soon-to-open MBTA Green Line Lechmere Station, and situated along the community multiuse path and new raised, separated cycle tracks along Monsignor O’Brien Highway. In addition, a community cycle center, connected to the new REI store, will be accessible to all and will serve as a convenient place where cyclists can use public lockers and shower rooms. Those needing further assistance and expertise can stop into REI and connect with a certified bike tech. REI Co-op will also be directly across from The Shed at CX, now home to Will Gilson’s multiple restaurants The Lexington, Café Beatrice and Geppetto, and soon Lamplighter CX, a craft brewery and taproom.

This summer, CX will welcome the community back for exciting outdoor neighborhood events, including CX Fit, CX Summer Nights, and CX Movie Nights to start. Additionally, Gilson’s team will revive their highly successful pop-up, The Lexington at the Picnic Grove, offering even more al fresco dining options for guests to enjoy.

By creating an unparalleled convenient, transit-oriented neighborhood, CX will enhance the everyday for commuters and residents. Community members will be steps from the onsite Lechmere Green Line station and bus terminal, the nearby Orange Line Community College Orange Line station, and walking distance from Kendall Square. CX is accessible to an interconnected system of walkways, including the community path that runs from the Charles River to Cambridge Crossing and then through Somerville and Medford, connecting to regional bike trails; bike lanes with proximity to four Blue Bike stations; and an EZ ride shuttle, connecting CX to the Red Line and to North Station.

When complete, CX will offer 100,000 square feet of local, authentic retail that sits at the heart of the project creating a true destination. CX currently has 2.1M square feet of life science, tech office, residential, and retail space under construction and most recently celebrated the fourth fully leased science and technology building in the neighborhood with Bristol-Myers Squibb signed on to join Philips, Cerevel Therapeutics, Sanofi, and more.

For more information and updates on CX, visit www.cambridgecrossing.com, or follow along on Instagram, Facebook, LinkedIn, and Twitter.

 

DivcoWest closes on $135M acquisition of 325 Hudson

PUBLICATION: Real Estate Weekly

 

DivcoWest has completed its purchase of 325 Hudson Street from Jamestown for $135 million.

The 10-story, mission-critical property located at Hudson and Vandam Streets in Lower Manhattan, sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.

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DivcoWest completes purchase of 325 Hudson Street

325 Hudson Avenue

10-story lower Manhattan building sits atop a fiber-dense corridor with critical infrastructure

New York – May 26, 2021 – DivcoWest has completed the purchase of 325 Hudson Street, a 10-story, mission-critical property located at Hudson and Vandam Streets in lower Manhattan.

Centrally located in the dynamic innovation hub of Hudson Square, 325 Hudson sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.

The approximately 220,000 square foot flexible building sits atop the fiber-dense Hudson Street corridor and offers a Meet Me Room (MMR) ecosystem with direct access to over 40 fiber networks and five transatlantic subsea cables. This translates to swift and cost-effective data connections.

DivcoWest will maintain a premier core interconnection colocation managed by H5 Data Centers, a national colocation and carrier hotel provider, while also investing in the remaining space to deliver creative and collaborative environments for tenants.

“This building offers real optionality for a variety of users,” said Ariel Aber, DivcoWest’s head of the NY region.  “There is tremendous interstitial space between floors, which will appeal to research use, while the large floor plates with clear window lines will also benefit life science and creative office users,” Aber added.  DivcoWest believes these features, combined with the unparalleled connectivity, technology infrastructure and location, make the building a rare proposition for enterprises across media, life science and office sectors.

 

About DivcoWest

Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in New York, Boston, Washington DC, Los Angeles and Menlo Park, CA. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired nearly 50 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com

Atlas Real Estate, DivcoWest Form $1B SFR Joint Venture

PUBLICATION: MULTIHOUSING NEWS

The partnership will acquire and renovate homes throughout the western United States.

Real estate investment firm DivcoWest is investing $250 million in equity in a joint venture with Atlas Real Estate that plans to deploy $1 billion into acquiring and renovating homes for the single-family rental market throughout the Western United States. The JV marks DivcoWest’s entry into the growing SFR market.

The joint venture has already closed its first acquisition in Tucson, Ariz., a property at 4300 W. Bunk House Road, and a handful of properties are currently under contract throughout Arizona, Colorado and Nevada, according to Vincent Deorio, vice president of corporate development.

Noting more offers are going out to buyers in… READ MORE

Atlas Real Estate and DivcoWest Form $1B JV To Enter SFR Market

Publication: Globe Street

Atlas Real Estate and DivcoWest have formed a $1 billion joint venture to acquire, renovate and manage single-family rental homes throughout the American West, signaling the latest entry into the skyrocketing SFR market and marking DivcoWest’s official entrance into the sector.

As part of the deal, San Francisco-based DivcoWest will invest $250 million of equity. The joint venture expects to deploy a total of $1 billion acquiring and renovating homes in high-growth states like Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.

The SFR market—traditionally the purview of smaller investors—has… READ MORE

HqO Raises $60M in Series C Funding to Power the Tenant Experience for Modern Office Environments

PUBLICATION: GLOBE NEWSWIRE 

New funding from the world’s top commercial real estate investors follows record-breaking growth and demand

BOSTON, April 14, 2021 (GLOBE NEWSWIRE) — HqO, the only tenant experience operating system for commercial office buildings, today announced it raised $60M in Series C funding from leading venture capital and commercial real estate firms. Previous investors Accomplice, Insight Partners, JLL Spark, Navitas Capital, DivcoWest, Allegion Ventures, and The Pagliuca Family Office participated in the round, joining new investors PruVen Capital, Cushman & Wakefield, and Suffolk Capital. The company has raised $106.9M to date, and will use the funds to support its rapid growth. As HqO continues to scale, it will expand its existing footprints in Boston, New York City, London, and Paris, as well as open new offices in Toronto and the Midwest and West Coast regions of the United States.

HqO is the undisputed leader in tenant experience technology with more than 150M square feet under management. The company tripled its revenue in the past 12 months and doubled its headcount. The new financing will further accelerate HqO’s growth initiatives and continue the company’s commitment to its world-class product through research and development, as well as support future mergers and acquisitions… READ MORE

Big landlords invest $60M in “tenant experience” startup HqO

PUBLICATION: THE REAL DEAL

Cushman & Wakefield, JLL among investors

Commercial real estate firms Cushman & Wakefield, JLL and DivcoWest are betting on a “tenant experience” startup to help get workers back to their offices.

Boston-based HqO said Wednesday that it closed a $60 million Series C. Cushman was a new investor in the company, along with Suffolk Capital and PruVen Capital. Prior backers JLL, DivcoWest, Accomplice, Insight Partners, Navitas Capital, Allegion Ventures and the Pagliuca family office also participated. The round brings HqO’s total funding to $106.9 million.

HqO was founded in 2018 by Kevin McCarthy, Chase Garbarino and Greg Gomer, who previously started AmericanInno, a digital events business acquired by Advance Publications in 2015.

HqO’s software platform gives landlords the ability to manage tenant-facing tech and amenities in one place. It also has a tenant app, analytics tool and marketplace.

In a statement, Garbarino, HqO’s CEO, said the round comes with strategic partnerships with commercial real estate players. That network will set up HqO “for unprecedented growth as the world returns to offices,” he added. READ MORE

Kettner & Ash: A Monolithic Digital Art Installation Wins Muse Design Award

Kettner & Ash

StandardVision was engaged by clients Cushman & Wakefield and DivcoWest to create a monolithic digital art installation for the newly-renovated Kettner & Ash office development in the heart of San Diego’s historic Little Italy district. Along with a design-build solution of the 5 story high LED video wall, StandardVision produced custom artwork that captures the spirit of the development while paying homage to its iconic location. With the goal of integrating the installation to the building’s uniquely vertical atrium wall, StandardVision’s design & engineering team collaborated with architect….READ MORE & SEE VISUALS