As more companies are priced out of Boston and Cambridge, they’re looking for inner suburbs that have easy commutes and reasonable rents – not an easy task! But there are some great opportunities, if you know where to look.
One property is Waltham’s Waverley Oaks Park, which continues attracting tech companies such as Tangoe, which signed a 17,500-square-foot lease for their burgeoning operation. Further, Dining Alliance signed a 9,000-square-foot lease there in November, and the company will move into its new space February 1, 2015. Other tenants at Waverley Oaks range from sales companies to technology, to mobile apps and education like The Cambridge Institute of International Education, which signed a lease for 26,595 square feet in December, coming from Main Street in Waltham. The park is a fit for tenants seeking cool, modern workspace interiors looking to attract millennials.
While companies are seeking the best value, especially along Route 128, Waverley Oaks continues to offer low/ mid $20s psf. Amenities also play a huge part in site selection especially when recruiting millennials and others looking for an experience that embodies the “live, work, play” attitude. Local owners Duffy Properties have seen this firsthand at 411 Waverley Oaks, 400 Fifth Ave, and 135 Beaver Street, where renovations have enlivened office space with a country club look and feel to the interiors.
Waverley Oaks Park is accessible just off Route 128 and features the Waverley Oaks Athletic Club, now undergoing extensive renovations totaling just over $1 million, to include group fitness to members, as well as a new cycling studio and cardio loft. Gym-goers can enjoy small group training in these new spaces while tracking their heart rate, calories and other data points for a better workout. All of the club’s renovations are making the gym a social hub, which tenants can tout to prospective employees.
The Park’s newly renovated interiors and amenities include seasonal food trucks and a plethora of fitness options – from hot yoga and CrossFit to basketball courts and the bike trails of the Beaverbrook Reservation. These continue to be added benefits to companies looking for a great deal while also enhancing the tenant experience and recruiting efforts. Accessible by commuter rail and the MBTA bus system, it seems that all roads continue leading to Waverley Oaks Park.