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 LexingtonCafé 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 InstagramFacebookLinkedIn, 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 AccompliceInsight PartnersJLL SparkNavitas CapitalDivcoWestAllegion Ventures, and The Pagliuca Family Office participated in the round, joining new investors PruVen CapitalCushman & 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

Johnson & Johnson-owned medical robotics company has signed a lease for 76,000 square feet in San Jose

170 Baytech San Jose

Publication: Silicon Valley Business Journal

One of the Bay Area’s largest robotics companies is setting up shop in San Jose, its first outpost in the South Bay.

Johnson & Johnson-owned Auris Health Inc. has leased an entire office and research-and-development building in North San Jose, according to three real estate industry sources who said they were not allowed to talk about it publicly. The building, located at 170 Baytech Drive, totals 76,000 square feet and offers built-out office and lab space as well as “shell” space, which can be customized to suit a tenant’s specific needs,… READ MORE

The Biggest Funds Raised In 2020 Have $24B To Spend On Post-Pandemic Real Estate

Publication: Bisnow
By: Mike Phillips

 

Real estate sages like Blackstone’s Ken Caplan called it early in the downturn: Opportunities to pick up real estate bargains brought about by COVID-19 wouldn’t start to emerge until 2021. So 2020 was a good time to raise capital and get ready to invest.

Here are the seven biggest funds raised in 2020 looking to invest in North America, … read more