CONNOLLY BROTHERS, INC. OF BEVERLY LEASES FIRST 12,500sf OF NEW OFFICE BUILDING TO WACHOVIA SECURITIES
Despite a seemingly flat real estate market and economy, Connolly Brothers signed 12,500 sf of space at the newest first class office building on the North Shore. Wachovia Securities added 40+ jobs to the City of Beverly when they moved in on the 15th of November, 2008.
138 Conant's convenient location offers over 470 feet of prime frontage on the Danvers/Beverly line of Rt. 128. The 65,000 sf first class office building was completed in early November, 2008just 11 months after groundbreaking. 138 Conant was designed, permitted and constructed by Beverly-based construction company Connolly Brothers, Inc., who is currently in their fourth generation of family leadership under owner Stephen J. Connolly IV.
138 Conant offers the only new first class office space in the North Shore region. The building features four stories, an elegant cherry and granite lobby, onsite cafeteria, fitness room, showers, and 260 total parking spaces including 55 underground. The steel frame construction is complimented with a two tone exterior metal panel system, strip windows, and a magnificent granite and reflective glass faade. The HVAC system in the building features two energy recovery make-up air units and water to air heat pumps.
Owner Stephen J. Connolly IV took on a major risk when he decided to go forward with the $11 million dollar project. The building was put up speculatively, meaning Connolly did not have any tenants lined up when he broke ground in October 2007. "After considering the project over the past few years, it became apparent that perspective tenants needed to see that the project was actually taking place. It is very difficult for a tenant to come along and commit to a building that hasn't been built," Connolly said. |
