Home > Press Releases > RBJ Represents Preotle, Lane & Associates In 40,475 SF Lease At 200 River’s Edge Drive, Medford

RBJ Represents Preotle, Lane & Associates In 40,475 SF Lease At 200 River’s Edge Drive, Medford

Lease With Management Sciences For Health Brings LEED Gold Certified Building To Full Occupancy

BOSTON – August 16, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented Preotle, Lane & Associates Ltd. (PLA) in a 40,475-square-foot lease agreement that brings 200 River’s Edge Drive, a LEED Gold certified office/lab building in the River’s Edge Mixed Use Development in Medford, Mass., to full occupancy.

The 10-year lease was signed with Management Sciences for Health (MSH), an international nonprofit organization whose mission is to save lives and improve the health of the world’s poorest and most vulnerable people. MSH (www.msh.org) is relocating its corporate headquarters from Cambridge in late 2013.

200 River's Edge Drive, Medford, Mass.

200 River’s Edge Drive, Medford, Mass.

“As an organization that strives for innovation and sustainability in all that we do, we’re very excited  to have found a space that will substantially increase staff interaction, is so environmentally friendly, and is in such a natural setting,” said Jonathan D. Quick, MD, MPH, President and Chief Executive Officer of MSH.

“For more than 40 years, Management Sciences for Health has worked to improve health throughout the world, and we are honored the institution chose River’s Edge for its headquarters,” said John Preotle, principal of PLA.

Steven Purpura, managing partner, and senior vice presidents Eric Smith and Ron Friedman of RBJ&P represented PLA. RBJ&P is the exclusive leasing agent for River’s Edge. Management Sciences for Health was represented by Ted Lyon and Chris Walsh of Cassidy Turley.

River’s Edge
200 River’s Edge Drive is part of River’s Edge, one of several new first-class, mixed-use projects near Boston/Cambridge.  River’s Edge is highlighted by an award-winning, 10-acre park fronting the Malden River (2008 Honor Design award from the Boston Society of Landscape Architects).  The park, which includes the Tufts University Boat House, features more than a third of a mile of river frontage, numerous paths for walking, running, and cycling, hundreds of yards of granite seat walls, several hundred trees and over 4,000 rose bushes.

In addition to Building 200, the Park and the Boat House, River’s Edge currently includes luxury housing. Subsequent phases are planned to include two additional office/lab buildings: 400 River’s Edge (four stories, 115,000 square feet) and 500 River’s Edge (six stories, 180,000 square feet).  River’s Edge is within walking distance of the Wellington MBTA Station. (www.riversedgema.com)

Designed as a “building in a park,” 200 River’s Edge’s amenities include the River Café, an elegant bistro-style restaurant with an outdoor dining terrace, and a fully outfitted fitness center overlooking the Park with showers and lockers. The efficiency of 200 River’s Edge floorplate is unparalleled in greater Boston.

“200 River’s Edge is a premier building in what has become one of 2013’s most active markets,”  said Eric Smith, senior vice president, Richard’s Barry Joyce & Partners.  “We have seen a tremendous amount of activity in this submarket over the past several quarters.”

Active Market – Streetcar Suburbs
The transaction follows a trend of increased leasing velocity in Greater Boston’s Streetcar Suburbs, or Inner North submarket.  According to research from RBJ&P, during the four-quarter period ending with the second quarter of 2013, leasing activity has averaged 105,000 square feet per quarter.  The figure is almost double the five-year quarterly leasing average prior to this period of 58,000 square feet per quarter.

Since Q3 of 2012, RBJ&P has closed seven leases totaling 130,778 square feet in the Inner North submarket.  The Streetcar suburbs consist of 4,060,000 square feet of office space and was 15.9% vacant, as of the quarter ended June 30, 2013. (source: Richards Barry Joyce & Partners’ “officeSTATus – Summer 2013”)

About Preotle, Lane & Associates Ltd.
PLA is an owner, developer and manager of real estate with a focus on quality properties that can be acquired, developed or redeveloped, and managed for long-term value creation. The firm currently owns and is developing properties in Greater Boston and Connecticut.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.

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