News

Raytheon Leasing 134K SF At Ex-Wang Laboratories HQ In Tewksbury

One of the largest U.S. defense and cybersecurity contractors is expanding north of Boston.

Waltham-based Raytheon has signed a 134K SF, seven-year lease at Rubenstein Partners’ Center at Innovation Drive in Tewksbury. The 706K SF office, manufacturing and flexible-use complex previously housed the headquarters for Wang Laboratories and was known as the 495 Business Center.

Raytheon plans to hire 600 for its Tewskbury office, which will take two floors at the Center at Innovation Drive.

“By repositioning the Center at Innovation Drive campus, we were able to unlock its hidden value,” Rubenstein Senior Vice President Peter Gottlieb said. “The campus is a special, differentiated offering in the market, and we are pleased to partner with cutting-edge tenants like Raytheon.”

Rubenstein bought the four-building Tewksbury complex in 2014 for $13M and has since invested $33M in upgrading the property’s systems, facade, entry and common areas. The repositioning also added amenities like an amphitheater, a fitness center, a café and collaboration space.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Boston Property Owners Raise Alarms About Cost Of Electric-Building Push

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

How A New Financing Model Helps Spur More Mixed-Income Housing

Law Firm Relocating To South Station Tower: The Boston Deal Sheet