News: Front Section
Posted: February 14, 2008
Davis Marcus leases 312,000 s/f to National Grid; JLL assists tenant
According to Davis Marcus Partners, National Grid has signed a lease for the entire 312,000 s/f new LEED Gold certified building at Reservoir Woods' East Campus at 40 Sylvan St.
Construction on the new building, began in February and is expected to be ready to occupy in mid-2009. National Grid has signed a 20-year lease for the three-story class A building, designed by ADD Inc. of Cambridge. The building will be designed to foster a collaborative work environment for employees.
National Grid is an international energy delivery company that delivers electricity and natural gas customers in Mass., N.H., N.Y. and R.I. Â
"Reservoir Woods offers National Grid an environmentally sensitive new building with flexibility, energy efficiency and a full amenity package to attract and retain valued employees," said Paul Marcus, president, Davis Marcus Partners.Â
Jones Lang LaSalle managing director Phil DeSimone, with senior vice presidents John Duffy and Keith Gurtler represented National Grid. Executive VP/partner Andy Majewski and VP Kerry Olson of CB Richard Ellis brokered the deal for Davis Marcus Partners.
Reservoir Woods East is a 54-acre office/research and development property purchased by Davis Marcus in partnership with Prudential Real Estate Investors.
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