May 15, 2019 – Tewksbury, MA – Rubenstein Partners, L.P. (together with its affiliates, “Rubenstein”), a vertically-integrated real estate investment adviser focused on value-added office property opportunities, announced the completion of a new approximately 134,000-square-foot, seven-year lease for Raytheon Company (“Raytheon”) at the Center at Innovation Drive, an approximately 706,000-square-foot office, manufacturing, and flexible-use complex in Tewksbury, MA. Raytheon, an industry leader specializing in defense, civil government and cybersecurity solutions, will occupy approximately 134,000 square feet across two floors at the property.
The recently redesigned Center at Innovation Drive property, formerly known as 495 Business Center, is comprised of four conjoined buildings located at 200, 300, 400 and 500 Innovation Drive. Rubenstein recently completed a state-of-the-art interior and exterior renovation plan throughout the entire campus, creating a modern workplace for multiple tenants and uses that is unique to the market. The renovations included a complete repositioning of the asset’s systems, façade, entry, and common areas, including the creation of an amenity center featuring a town-hall amphitheater, fitness center, café and collaboration spaces, as well as extensive site work and landscaping.
Additionally, the Center at Innovation Drive achieved LEED certification for Building Design and Construction from the U.S. Green Building Council for this major renovation, which highlights its leadership in energy and environmental design.
“Raytheon is a technology and innovation leader and we’re extremely pleased to announce their new long-term lease at the Center at Innovation Drive,” notes Peter Gottlieb, Senior Vice President at Rubenstein. “By repositioning the Center at Innovation Drive campus, we were able to unlock its hidden value. The campus is a special, differentiated offering in the market, and we are pleased to partner with cutting-edge tenants like Raytheon.”
The Center at Innovation Drive campus is an alternative to other older properties located along the I-495 belt’s premier office inventory. The campus offers the benefits of new construction at a compelling value for Boston based companies seeking more affordable space. The property also benefits from its strategic location and easy highway access along the Route 3, I-495, and I-93 corridors.