Beal leases 345,000 square feet at the Arsenal on the Charles in 2004

WATERTOWN, Mass. (12/23/04)- The Beal Companies, LLP has leased over 345,000 square feet of office space at the Arsenal on the Charles in Watertown this year. Three major deals highlighted the lease activity this year: 130,000 square feet to Athena Health Care, 53,000 square feet to Boston Sports Club, and 38,000 square feet to Bard, Rao, & Athanas Consluting. All three companies will be occupying space in Building 311, the signature 366,000 square foot building that anchors the 37 acre campus overlooking the Charles River.

Although considered one of the toughtest office markets in recent years with vacancy rates climbing daily and fewer companies actively looking to expand, Beal was able to overcome the sluggish economy and market the property as one of the premier Class A Office Parks in Greater Boston. Other lease deals worth noting include A123 Systems taking 10,993 square feet at 1 Kingsbury Avenue, and Communispace leasing 7,000 square feet at 100 Talcott Street.

Peter B. Nichols, Stephen N. Faber, and Robert P. Doherty represented the Landlord, Harvard University, in lease negotiations. The Beal Companies, LLP a Boston-based real estate and investment firm since 1880, has leased and managed the sprawling 700,000 square foot property for Harvard University since 2001. The historic Watertown Arsenal manufactured armaments for America's defense efforts for nearly 200 years. Site amenities include two restaurants, daycare center, full-service banking, meeting and reception facilities, and shuttle service to Harvard Square in Cambridge.