Initially a 229,000 square foot mixed-use property, Charles River Plaza was redeveloped into a 640,000 square foot office and retail space with a 950 car parking facility. Built in the 1960s, the property is located in the Boston CBD adjacent to the Massachusetts General Hospital (MGH), Government Center and Beacon Hill.

The Company purchased the property from the original developer in June 2000 for $76.2 million. Simultaneous with the closing, we negotiated a lease expansion/extension with MGH for 70,000 square feet of medical and office space, bringing the property to 100% occupancy. The Company obtained City approvals for the development of an additional 411,000 square feet of medical office, lab and retail space on the property. A long term lease for 355,000 square feet of laboratory space was signed with MGH and in February 2003, construction commenced on this $300 million redevelopment. The project was completed in September of 2005 and is now 100% leased to tenants, including Massachusetts General Hospital, Schepens Eye Institute, Whole Foods, and CVS.