11 Dartmouth Street, Malden
A new urban development, adding a city experience at a suburban price point
For the first time in a generation, this neighborhood has a ground-up private sector commercial building to help establish Malden’s new commercial hub. With exceptional transit and walkable amenities, an environmental and wellness focus, and spectacular views from its roof deck, this project offers an upscale tenant experience on par with the best downtown buildings.
Overview
- Existing 12,000 SF office and 50 space surface parking lot
- Located in an Opportunity Zone within the City of Malden’s emerging central business district, with exceptional transit and walkable amenities
- Acquired off-market in a portfolio transaction with 21 Pleasant Street
- QuakerLane successfully permitted 190,000 GSF of office or lab with below grade parking
190,000 SF
Class A office / lab
Dec 2019
Acquisition date
Q4 2024
Anticipated delivery
Business Plan
- Obtain special permits to improve development density and use; successfully achieved 3 additional floors as-of-right and ability to develop R&D
- Design for tenant optionality and pre-lease the planned building
- Negotiate construction pricing and contracts
- Capitalize vertical construction
- Develop and lease office or lab space
Community Impact
Neighborhood Revitalization: Represents the first ground-up, private sector commercial building in a generation for Malden, helping to establish Malden’s new commercial (and potential life sciences) hub
Local Community Support: Project will contribute funds to the Malden Affordable Housing Trust, along with streetscape/traffic improvements
Multimodal Access: Proximity to Malden Center’s MBTA Station (Orange Line and Commuter Rail access) encourages mass transit
Equitable Tenant Experience: Class A design provides tenants with an ‘urban’ tenant experience at an attainable suburban price point, with amenities and building features typically found in pricy downtown Boston buildings
Environmental and Wellness Focus: Building is targeting LEED certification and exploring wellness-focused certification programs
Indoor/Outdoor Connection: Substantial roof deck on top of the building provides a meaningful enhancement to the workday and spectacular views all the way to Boston