Hilco Redevelopment Partners to build 130,000 s/f office/R&D project The Gauge on 8.2 acre Waltham site

The Gauge- 152 Grove Street - Waltham, MA

Waltham, MA Hilco Redevelopment Partners (HRP) purchased an 8.2-acre property located at 152 Grove St. The property is located just 10 miles from downtown Boston and is situated in a mixed-use community.

The redevelopment of this property will result in 130,000 s/f of office and research and development space across three buildings in a campus-like setting.

The 1940s brick and beam structure will be fully restored, featuring high ceilings with windows, skylights and exposed brick interior walls. The project will also benefit from completely new systems, common areas, utility infrastructure, landscaping, and onsite employee parking. The property originally served as the corporate headquarters for The Standard Thomson Co., a company that sold temperature gauges for automobiles and other industrial equipment.

Roberto Perez, executive vice president and managing partner of Hilco Redevelopment Ptrs. indicated that this new development is being called “The Gauge” in an effort to recognize the history of the property. Perez said “Hilco Redevelopment Partners has become one of the leading experts at managing real estate revitalization projects like “The Gauge”. Our business platform has literally been built to provide customized and integrated solutions to maximize the value of obsolete properties all over the country.”  

Hilco Redevelopment Partners is part of the real estate division of Hilco Global and is the founding company behind the 3,100 acre redevelopment project located on the former site of the Bethlehem Steel in Baltimore, which is now called Tradepoint Atlantic. The Tradepoint Atlantic project is currently one of the largest real estate redevelopment projects underway in North America, reinventing the obsolete industrial steel manufacturing site and bringing a boost to the local economy in Maryland.

Ben Spera and Andrew Chused, both senior vice president’s and partners at HRP are responsible for leading the project in Waltham. Spera said “The Gauge at 152 Grove St. represents a phenomenal redevelopment opportunity given the property’s campus-like setting, unique character, authenticity and dynamic location.” 

Chused added that “the property is being designed for tenants that desire Class A office and /or R&D space and also value a highly creative, energetic environment within an inner suburban location”   

Spera and Chused indicated that they believe the New England marketplace will continue to be an opportunity for Hilco Redevelopment with several other exciting project expected to be announced in the coming months. 

Hilco Redevelopment has retained CBRE/New England as its exclusive leasing and marketing partner for The Gauge. The redevelopment is expected to be completed and ready for occupancy in early 2017. HRP’s project design and architecture is led by SGA (Spagnolo Gisness & Associates, Inc.).