New construction is springing up all around Greater Boston, with office, residential and retail space in high demand. But there’s something to be said for well located, existing, available product in the area, particularly when the product offers an opportunity to be redeveloped into creative, revolutionary space that has the character and allure that’s impossible to re-create with new construction.
And that’s just what Anchor Line Partners is doing at POST, which will deliver one year from now. Formerly a USPS regional distribution facility located at 200 Smith Street in Waltham, the site is being redeveloped into state-of-the art, cool, funky office and/or lab space. The decision to redevelop the property instead of tearing it down and starting from scratch, isn’t being done to save money, rather it is to savor and capture how cool and one of a kind this space can become. Tenants are looking for well-located creative campus properties with open floor plans, high ceilings and plenty of natural light, and that’s exactly what POST will provide.
Anchor Line isn’t the only one who sees the benefit in this type of redevelopment. In fact, Boylston Properties has a similar project in Watertown called Linx, where they’re transforming an ordinary industrial building once occupied by Verizon into 185,000 square feet of office space.
Although revolutionary to the Boston suburban market, projects like this have seen extreme success along the West Coast. In fact, recently a former USPS distribution center in Playa Vista, California was transformed in a creative office campus known as The Reserve. Since the redevelopment of the property, it has attracted big name tenants like TMZ, Microsoft, Sony Playstation and Verizon.
For Anchor Line, POST is an opportunity for them to transform a well-known building with a unique history into creative multipurpose space currently in high demand by companies looking to make a splash and do something different.