Newmark : 64 Pleasant Street, 105,000-Square-Foot Lab Conversion Project, For Lease in Watertown, MA

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64 Pleasant Street, 105,000-Square-Foot Lab Conversion Project, For Lease in Watertown, MA October 4th, 2021 9:00am

The property, which will deliver by the end of 2022, can be leased as a single- or multi-tenant space

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• Boston

October 4, 2021 9:00 AM

Newmark announces that it was named exclusive leasing agent for Berkeley Investments' (Berkeley) 64 Pleasant Street-a 105,000-square-foot lab conversion project in the heart of Watertown Square, an up-and-coming life science hub directly adjacent to Boston and Cambridge, Massachusetts. Newmark Executive Managing Directors Dave Townsend and Juliette Reiter, Senior Managing Director Dan Krysiak and Director Catie Tilton are representing the owner, Berkeley, who purchased the historic property from Sasaki Architects in February 2021.

Berkeley will begin construction on 64 Pleasant Street, branded as 64P, this month to fully modernize the historic buildings while preserving and maintaining approximately 105,000 in square footage. The updates will include 100% new mechanical, electrical and plumbing equipment as well as improved airflow and energy efficiency, updated ADA accessibility, and key life science elements such as higher ceilings, state-of-the-art lab space and new reinforced concrete floors. SGA is leading the design team to update the space and surrounding site. Berkeley aims to complete core and shell construction by the end of 2022, with the potential to begin fitting out a tenant space sooner.

The two-story asset's amenities include ample outdoor gathering space, common conference spaces, bicycle storage, a rooftop deck and a fitness center with showers and lockers.

64P is within walking distance to the restaurants, public transit, shops and housing of Watertown Square. It is a 20-minute drive to Kendall Square and five minutes from the Mass Pike.

"The conversion project is greatly beneficial to Watertown and it's growing life sciences cluster," said Townsend. "Berkeley's preservation of the historic Chase Mills building paired with the required life sciences components make the space increasingly attractive for companies seeking a lab presence in Watertown's ever-growing life science cluster.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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