After being vacant for four years, the three-building portfolio in Cambridge, Mass. was purchased by Beacon Capital Partners for approximately $170M. Inspired by the lobby renovation at 745 Atlantic Avenue, the client commissioned us, alongside ESI from New York, to reposition the space and attract new tenants. The space was designed to incorporate maps of the city of Cambridge, and natural wood panels lined the walls of the lobby. LED screens and A/V technologies were integrated into the design, turning the space into a live, scrolling news source with constantly changing photos of the city.
Approximately $15M was invested in the lobby renovations, and as a result, 2 Canal Park was entirely leased by tech-firms including as CarGurus, HubSpot, Symantic, and Philips Research. Beacon Capital then sold the portfolio for approximately $304M—an incredible ROI.