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Berkeley Investments has begun converting a 300,000-square-foot former bank data center next to the Malden Center MBTA station into speculative office and R&D space. Image courtesy of Stantec
What: Exchange 200
Where: 200 Exchange St., Malden
Owner: Berkeley Investments
Built: 2019-2020
A 300,000-square-foot mixed-use redevelopment including office, data, R&D and retail space has kicked off at 200 Exchange St. in Malden.
Deutsche Bank provided $61 million in construction financing last month for the speculative redevelopment, located across from the MBTA’s Malden Center commuter rail and Orange Line station. Caffe Nero has signed on as the first retail tenant, leasing 2,500 square feet for a ground floor coffeehouse with outdoor patio seating.
Boston-based Berkeley Investments bought the former bank data recovery center for $21.7 million in 2016. The building features large floorplates, redundant power infrastructure, heavy floor loads and six loading docks. The project will include facade replacement, new floor-to-ceiling windows, base building infrastructure upgrades and a two-story lobby atrium.
JLL is the exclusive leasing broker for the office, R&D, and data center space, while Newmark Knight Frank represents ownership in retail leasing. Project team members include architect Stantec and general contractor Dellbrook JKS.
They Said It:
“Our vision for Malden Center is happening right now, as new breweries, restaurants, entertainment and gaming destinations, and new residential options complete the revitalization of downtown. For major companies looking to attract a talented, dynamic workforce, Exchange 200 offers a bustling downtown with excellent transit access as a compelling alternative to Somerville and Cambridge.”
— Malden Mayor Gary Christenson
