Cushman & Wakefield today announced the signing of Stratus Technologies to a 102,321 square foot lease at Mill & Main in Maynard, Massachusetts. The agreement is the largest lease signed in the 495 West submarket this year.
Cushman & Wakefield Executive Vice President J.R. McDonald, Executive Vice President Mike Frisoli and Director Matt Morgan represented the landlord, Saracen Properties & Artemis Real Estate Partners, and together serve as the exclusive leasing agents for the property. Executive Managing Director Robert Emden, Senior Managing Director Drew Nelson and Managing Director Troy Coady of Newmark Grubb Knight Frank represented the tenant.
Under new ownership, the 1.1 million square foot project named Mill & Main is currently undergoing a repositioning effort that will transition the property into a dynamic mixed-use destination with ground-floor retail, communal spaces, a riverside boardwalk and a future brew pub. Saracen envisions Mill & Main as catalyst for growth that will resonate now and for generations to come.
“This lease is a notable achievement for the Mill & Main project and ownership team,” said Cushman & Wakefield Executive Vice President J.R. McDonald. “It serves as a significant endorsement of the market viability of the revitalization of Mill & Main, which is only in its infancy.”
Formerly known as Clock Tower Place, Mill & Main is a 50-acre campus located just 25 miles west of Boston. Strategically situated in the heart of the Metro West’s “Golden Triangle,” Mill & Main offers easy access from Route 128, Route 495, Route 2 and the Greater Boston area. With a wide variety of on-site and local amenities within walking distance, Mill & Main appeals to both commuters and the Maynard community alike. Its brick-and-beam buildings feature sprawling, flexible layouts with 16’ ceilings and an abundance of light.
“Ownership is thrilled Stratus shares our vision for Mill & Main,” said Saracen Properties Principal Travis Powell. “Their commitment to stay in Maynard and relocate to our project is a big part of the transformation process.”
Stratus Technologies, a leading provider of availability solutions for information technology infrastructure, will relocate from its current location at 111 Powdermill Road, also in Maynard, to Mill & Main. The firm is expected to commence occupancy of its new space in March 2016.