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Hobbs Brook Real Estate’s 5 million-square-foot portfolio blends workspaces into suburban environments with outdoor amenities. The 122-acre Edgewater Business Park in Wakefield borders the Reedy Meadow marshland. Photo courtesy of Hobbs Brook Real Estate
Greater Boston’s suburbs have always been popular because they offer companies and their employees an ideal mix of conveniences such as a short commute, free parking and green space that will never be available in most urban locations.
These conveniences are especially sought-after now, as workers return to the office.
In Waltham for example, Hobbs Brook was first attracted to this city more than 70 years ago when we delivered Route 128’s first office building – 225 Wyman – that we now have the pleasure of redeveloping into a vibrant campus designed by Gensler.
Waltham, like Boston’s other surrounding suburbs, had strong fundamentals from the beginning that it continues to build upon. These attributes include accessibility to Boston, proximity to desirable areas for living and raising a family, abundant open space and emerging retail districts.
For those same reasons today, Waltham has attracted destination restaurants and retail such as La Campania and Brewer’s Tap & Table, and is home to local attractions such as the Waltham Riverwalk.
Established companies like ZoomInfo, Pegasystems and Vistaprint have also chosen Waltham as a home base. According to brokerage Hunneman’s second-quarter report, over 6.2 million square feet of office space throughout Greater Boston has been or is slated to be converted into labs by year end, and the city’s spike in life science space continues to attract new tenants such as AstraZeneca and Sanofi.
Even more life science companies will flock to the area as they seek locations that offer the most balance for their employees.
Designed for Work-Life Balance
We have found that an ideal combination of work-life balance comes in the way of on-site health and wellness opportunities, natural amenities and innovative sustainable practices that are often only possible with the abundant outdoor space found in suburban locations.
Suburban office campuses benefit from being surrounded by lush green space. Most of our office campuses incorporate more than dozens of acres of outdoor space, such as our 122-acre Edgewater campus in Wakefield that is integrated into Reedy Meadow, the largest continuous marshland in Massachusetts that is also part of a National Natural Landmark and National Heritage Area.
Tenants often enjoy picturesque walks from the campus to Market Street in Lynnfield via outdoor walking paths in just 10 minutes.
Outdoor space provides a blank, yet green, canvas to be creative and to benefit the community and tenants. For example, at 404 Wyman, we have engaged with Green City Growers to install gardens throughout the campus where we will eventually host farmers markets or grow produce to be donated to community food banks. By producing our own food on-site, we are creating a sustainable, internal ecosystem that helps us reinvent our food service offerings while providing our tenants with healthy farm-to-table dining options.
Natural settings have many benefits beyond providing spaces for tenant employees to explore. A suburban setting also helps increase circulation and air quality throughout a nearby building by helping lower the concentrations of air pollutants.
With more outdoor space, there is also more opportunity to incorporate sustainable elements into buildings. Our portfolio includes 11 solar arrays that all generate a staggering 6.7 megawatts of power, or roughly equivalent to the energy produced by 70 automobile engines. Beehives enhance environmental quality and the natural resource base of the surrounding area, which enriches our ability to maintain the gardens.
Remote Work Created New Breaktime Routines
The past year revealed a lot about the way we work, and one of the main takeaways is the need for balance and self-care throughout the day.
At Edgewater, all seven buildings within the campus are connected by paths, and we often find tenants exploring the landscaped outdoor areas for a break throughout the day.
At Hobbs Brook, we also believe that the value of exercise should also never be underestimated, especially following the remote work that enabled people to experiment with short, digital workouts and its correlation with mental health. We are investing in upgrading our fitness studios across our five million square foot portfolio. Our centers offer state-of-the-art equipment, CrossFit and yoga studios, and spa-inspired locker rooms that enhance the option of working out during the day.
Although this year has forced us to adapt in ways we couldn’t have foreseen, we are resilient and will quickly reacclimate to new office environments, routines and schedules. It is our responsibility as a landlord to create spaces where its inhabitants can feel comfortable and seamlessly transition back to work. A smart way to approach this transition is by making sure offices offer key amenities – inside and out – that help make people healthier, more productive and balanced.
Sam Schaefer is CEO of Hobbs Brook Real Estate.
