Campanelli acquires former CISCO campus – Newmark to lease The Park at Beaver Brook
*Originally published in New England Real Estate Journal on November 19, 2021.
Boxborough, MA Campanelli has assigned Newmark to lead leasing efforts at the former CISCO headquarters campus, newly rebranded as The Park at Beaver Brook. The Park at Beaver Brook totals more than 409,000 s/f of existing office space and up to 1 million s/f of new development potential on 110 acres. This will be the sixteenth business park developed by Campanelli in Massachusetts. Newmark senior managing director Tyler McGrail, executive managing director Torin Taylor, vice chairman Michael Frisoli and associate Margaret Fee will be marketing the newly rebranded campus, which Campanelli acquired in partnership with TriGate Capital.
“We are excited to work with Campanelli on this project, as the company diversifies and expands its portfolio,” said McGrail. “The Park at Beaver Brook is a unique purchase with a great deal of potential. The real estate market continues to evolve around Rte. 495 and we are excited by the opportunities to grow with the changing landscape.”
Located along Beaver Brook Rd. and built in 2002, the three-building campus has been CISCO’s Massachusetts headquarters for the past 18 years. With headquarters-quality finishes, exceptional infrastructure, use flexibility and the potential for an additional one million s/f of development, the campus is an attractive opportunity for tenants.
“We are very enthusiastic to acquire a Class A campus with immediate access to I-495, with both existing facilities and future development potential,” said Campanelli partner Russell Dion. “We have asked Newmark to pursue uses for the existing buildings and investigate all segments of the market for the future developments.”