17,508 sq ft office/R&D facility + retail property

An affiliate of Riverside purchased this 17,508 square foot property in May 2021. Riverside serves as the property manager and developer for this project.  

At the time of acquisition, the property was 70% occupied with tenants including a poultry distribution and retail outfit, a music recording studio, and a two-bedroom apartment. Following acquisition, Riverside assembled a team to begin redeveloping the property to provide flexible workspaces for non-laboratory R&D uses along with a 1,000 square foot retail space. Riverside applied for, and received, approvals for its redevelopment plan from the Cambridge Historic Commission (a portion of the property is listed on the National Register of Historic Places) and the Zoning Board of Appeals.

Riverside worked alongside its contractor as the property underwent a complete gut renovation, design revisions, the completion of exterior and structural alterations, and all new utilities at the property. This first phase of construction was completed in 2024 just prior to executing a lease to a single tenant, which is expected to take occupancy in 3Q2025.