The Granada (21 Pleasant Street), Malden
A modernized historic office building that celebrates its unique character
This beautiful historic building offers tenants unique open floorplans with incredible natural light. Convenient to mass transit, with many walkable amenities, the creative character of the building was enhanced with updated finishes and a new lobby to welcome visitors and tenants alike.
Overview
- Historic 4-story brick-and-beam office ground-floor retail
- Located in the City of Malden’s emerging central business district with exceptional transit and walkable amenities
- Acquired off-market in a portfolio transaction with 11 Dartmouth Street
- 10,000 SF retail and 12,000 SF of renovated office
22,000 SF
Creative office
Dec 2019
Acquisition date
70%
Occupancy
Business Plan
- Enhanced existing office space by creating open floorplans with updated finishes
- Designed and constructed new lobby, painted streetscape, added new signage, re-branded the building
- Cure deferred maintenance and institutionalize operations
- Re-tenant the renovated office space
Community Impact
Community Development: Caters to an underserved market of small office users composed of numerous non-profits and community groups seeking quality, attainable space
Multimodal Access: Proximity to Malden Center’s MBTA Station (Orange Line and Commuter Rail access) encourages mass transit
Unique Offering: Private floorplates and the building’s creative character are unique to the submarket, and the renovations create a superior option for tenants in Class B space
Collaboration with Local Community: Hosted the Malden City Hall temporarily while the new City Hall facility was under construction
Adaptive Reuse: Preservation and modernization of storied historic building that has served as the City of Malden’s theater and city hall over the last 100+ years
Streetscape Transformation: Cleaned up, painted ground floor and new lobby entrance creates a cohesive, upscale look for the City’s main-on-main location
