Previous Development Experience

Categories: Developmenet

Office Development Project- Boston

100,000 sf Office Development Project
This 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 Project
This 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 Residential
The 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, and then building a residential addition to create more value. 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 Project
One 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 Project
This 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 Project
This 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 Project
This 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 70,000 sf 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 is are presented for informational purposes only to illustrate the principals’ previous experience in real estate development. 

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