 Trio of tenants sign on at One Washington
Three tenants have signed leases at One Washington TC Saracen awards Erland rehab of 187,000 s/f office
TC Saracen - a joint venture between Trammel Crow Co. and Saracen Properties LLC - has awarded Erland Construction the rehab of 43 Foundry Ave., a... |
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2010 Saracen Properties
Web Development: NH Marketing Company |
Stony Brook Office Park was one of a portfolio of six buildings which were purchased in 2004 by Saracen, in partnership with Rockpoint Group. The portfolio, totalling 900,000 square feet, was purchased for $69,000,000 from a distressed private REIT. Over the next 18 months, Saracen acted as both Manager and Developer and oversaw a $23,000,000 recapitalization project for the properties. The scope of work for Stony Brook included the construction of a new parking garage, a new fitness center and a new cafe. Mechanical systems, landscaping and signage upgrades were also performed. Upon completion of the 18-month capital improvement program, the portfolio enjoyed an occupancy rate in excess of 80%.