Major Redevelopment Begins At Riverview Technology Park In Billerica, Massachusetts
November 12, 2012
Hackman Capital and Calare Properties announced today that construction has officially begun at Riverview Technology Park. Located on the Concord River, just 30 minutes north of Cambridge’s bustling life-science community, the 130-acre park will be undergoing major redevelopment, and the site’s largest facility at 495 Woburn Street will be completely transformed.
“Once renovations are completed, the already-modern campus will become a premiere high-tech hub for state-of-the-art research and development, manufacturing and corporate office users,” said Michael Hackman, founder and CEO of Los-Angeles-based Hackman Capital. “There is an ever-rising demand for world-class space in suburban Boston, and Riverview Technology Park will meet that need.”
Riverview Technology Park is part of the National Industrial Portfolio, a joint venture among entities formed by Hackman Capital and Calare Properties, in conjunction with KBS Real Estate Investment Trust.
“We are excited to have broken ground at the site,” said William Manley, President of Calare Properties. “Our vision is to create a bold new image for the campus, which will attract top-tier global and local organizations looking to leverage the park’s strategic location in Massachusetts’ high-tech corridor. Riverview Technology Park offers tenants close proximity to some of the most renown research institutions in the world, along with a highly educated workforce in Massachusetts and New Hampshire.”
According to Manley, Phase 1 of the multi-million dollar redevelopment focuses primarily on renovations to 495 Woburn Street, one of park’s two existing buildings. The 563,322-square-foot facility will gain a dynamic, ultra-modern facade, a striking lobby, a large parking lot, lush landscaping and other upgrades. Phase 1 improvements also will enhance the park’s entrance and roads, as well as boost the site’s infrastructure.
In addition to the soon-to-come changes at 495 Woburn Street and other renovations currently underway at the site, Riverview Technology Park offers park offers 20 acres of prime, fully-prepped land for development, plus a modern 126,000-square-foot facility built in 2001 at 515 Woburn Street. Other campus features include heavy power, town water, convenient highway access and nearby commuter rail.
Key members of the project team include The Boston office of Gensler as the Project Architect, Engineering Design Consultants, civil engineering and local jurisdiction interface; Goldstein Milano, structural engineering; and Integrated Builders, general contracting.
Cushman & Wakefield’s Senior Directors Torin Taylor, Rich Ruggiero and Matt Adams, together with Associate Director Rory Walsh, are the exclusive leasing agents for the facility.