Boston – Boston-based real estate developer Berkeley Investments has confirmed that its comprehensive redevelopment of Exchange 200, a four-story, 310,000+sf mixed-use building in Malden Center, is now complete.
Working closely with the city of Malden, architectural firm Stantec, and builder Dellbrook JKS, Berkeley has transformed the transit-oriented property, directly across from the Malden Center MBTA station, into a modern innovation hub that is ready to accommodate a wide variety of lab, R&D/flex, and office users.
This redevelopment positions the property to provide modern lab space to the life sciences sector, which continues to experience growing demand for space. “The life sciences market in greater Boston continues to be one of our strongest sectors, and we continue to see demand for lab space that outweighs supply, especially in urban locations directly across the street from the T/commuter rail like Exchange 200,” says Molly Heath, managing director for JLL, which is serving as the exclusive leasing broker.
Berkeley’s investment in the property, which previously served as a bank operations center, include a complete replacement of all systems with advanced new HVAC and mechanical infrastructure, a new facade of floor-to-ceiling glass, a new two-story atrium lobby, and the addition of an assortment of new amenities including fitness center, locker room/showers, and bike storage.
In addition, Exchange 200 offers a number of unique features that will appeal to prospective life sciences and lab tenants, especially for a building that’s across the street from public transit, a short bike ride to Cambridge, and less than 15 minutes from downtown Boston.
The redevelopment of Exchange 200 also includes the creation of new street-level retail by replacing an uninviting brick facade with floor-to-ceiling glass storefronts, offering nearly 15,000sf of new retail space.