Home
Past Projects
The members of Cresset's management team have been involved in real estate development and acquisition for many years, and collectively have been involved in over $ 2.5 billion of transactions since 1991.
Representative Past Properties Asset Repositioning
Development
Representative Properties
Office/Industrial - North Reading
443,000 sf Office/Industrial BuildingThe initial acquisition of 350,000 sf of office and industrial space was on 34 acres with an option on an additional 41 acres. The land option was exercised and the development of a 93,000 sf build-to-suit was completed along with obtaining approvals for the future development of an additional 450,000 sf The entitled land was sold to a user that developed the balance of the park.
Development Project - Cambridge
110,000 sf Mixed-Use Office, Residential and RetailThis project represents a complex mixed-use development in the heart of Cambridge. After sensitive negotiation with city agencies and abutters, a mixed-use project was approved through a special permit allowing retail, office and residential uses in this eclectic development featuring historic renovation, stick frame construction and a ground-up, cast-in-place concrete and masonry structure.The project received a preservation award from the City of Cambridge.
Renovation Project - Boston
50,000 sf Office Renovation ProjectThis building was acquired as an existing 50,000 sf warehouse building dating from the 1890’s. It was converted to first-class office space through a complete renovation of the building.The building was initially occupied by a state agency.
Office Building - Boston
50,000 sf Office BuildingThis property was acquired to maximize the value through new tenanting and moderate upgrades to the building. The building was repositioned and under agreement for sale to a new buyer within twelve months of acquisition.
Office Development Project - Boston
150,000 sf Office Development ProjectThis development project was the conversion of a turn-of-the-century, 440-room hotel building to first-class office space and ground floor retail by way of a gut-renovation and core addition in the rear light well. 20% historic tax credits were obtained for this project, as a historic structure of approximately 150,000 sf.
Redevelopment Project - Brighton
330,000 gsf Building RedevelopmentThis project encompassed the redevelopment of a former car manufacturing facility into a mixeduse, 186 unit residential units, 75,000 sf of retail space and roughly 200 car parking.
Office Renovation Project - Boston
20,000 Office RenovationOne of only two cast iron facades in the City of Boston, this circa 1880s building was renovated to provide quality office space to smaller tenancy in the historic heart of Boston’s business district.
Office, Residential & Retail Renovation Project - Boston
120,000 sf Mixed-Use Office, Residential and Retail Renovation ProjectThis historic building of approximately 130,000 sf was converted from retail and office to retail, office and residential (upper 9 floors, 94 residential units). The complete renovation of the entire building was undertaken with separate systems (mechanical, electrical and plumbing) that allowed for commercial and residential zones. Historic tax credits were achieved here through the National Park Service program.
Development Project with Historic Rehab - Boston
21,000 sf Office Development ProjectThis building was a complete gut-renovation for a single tenant use. The project was undertaken as a historic rehabilitation, which qualified for the full 20% historic tax credits.The building is six stories and approximately 21,000 sf.
Asset Repositioning
Office Building - Boston
130,000 sf Office BuildingThis building was acquired for the potential to significantly increase the value through upgrading and re-tenanting the building.New building systems were installed including HVAC, electrical vault, emergency generators , switchgear and distribution. All windows were replaced, the basement through second floors were gutted for a solid credit anchor tenant. The building upgrades were completed while tenants maintained occupancy. Additional high-credit tenants entered into leases within the building.
Mixed-Use Building - Boston
130,000 sf Mixed-Use BuildingThis building offered significant potential to create value through renovation of the exterior, build-out of the interior, and long-term leasing. Development activity in the area surrounding the site strengthens future development potential of the property through the ability to expand the building by constructing additional floors or permitting for ground-up development.
Asset Repositioning - Boston
70,000 sf Asset RepositioningThe property was an office building with ground level retail use. Its downtown location, historic nature and presence in Boston made it an ideal site for a boutique style hotel.
Development
Office Development Project- Boston
100,000 sf Office Development ProjectThis property was acquired as a six-story building, approved for expansion to nine floors ,with a credit lease in place for a large office tenant. New leasing and expansion of an existing retail tenant also increased the size and value of the property. Three full and two partial floors were added, and a retail pavilion was built at the ground level to expand the retail tenancy. Approximately 85% of the building was leased to credit tenants.
Office Development - California
378,000 sf Office Development ProjectThis joint venture investment facilitated the development of the first three phases which comprised 378,000 sf of the project's ultimate total of 560,000 sf on the land surrounding a two acre park. The complex is adjacent to the dominant regional mall and future BART station at the intersection of the major East/West and North/South freeways. The property continues to enjoy a dominant position in the East Bay market.
Development Project - Boston
400,000 sf Mixed-Use Office and ResidentialThe building was acquired as a permitted site for expansion and conversion to residential units. The existing six-story, 240,000 sf site was approved for the addition of six floors. Due-diligence showed more value would be created by using the existing structure for commercial use, then building a residential addition. It was anticipated that the completed project would be approximately 400,000 sf, and would involve substantial renovation.
Development Project - Brookline
65 Unit Luxury Residential Development ProjectOne of only two cast iron facades in the City of Boston, this circa 1880s building was renovated to provide quality office space to smaller tenancy in the historic heart of Boston’s business district.
Development Project - Boston
125,000 sf Office Development ProjectThis site was a former parking garage and repair facility.The 102,000 sf building was acquired to expand and renovate into first-class office space, with retail and limited parking on the ground floor. Permitting and approvals were obtained to add one additional floor to the building. The completed project will be approximately 125,000 sf.The office floors were fully leased mid-way through the construction.
Development Project - Boston
45,000 sf Residential Development ProjectThis building is located in a mixed-use neighborhood with a high concentration of residential properties.The property was acquired to convert to loft condominium units, with limited on-site parking.This project was permitted under Article 80 through the Boston Redevelopment Authority (BRA) and was a complete gut-renovation.
Development Project - Cambridge
220,000 sf Office Development ProjectThis asset was acquired as a 40,000 sf historic building on approximately 34,000 sf of land. It was permitted for an additional 180,000 sf of building area consisting of 70,000gsf of parking and 110,000 sf of office and retail.The primary tenant was a regional bank in approximately 75,000 sf.
The principals' involvement with the projects depicted on these pages occurred prior to their current employment with Cresset and are presented for informational purposes only to illustrate the principals' previous experience in real estate development.
