Photo courtesy of Berkeley Investments and BOSTON ARCHITECTURAL PHOTOGRAPHER
Berkeley Investments’ revamp of one of Malden Center’s highest-profile commercial properties landed an anchor tenant in a Woburn cleantech company.
Fresh off a $78 million venture capital fundraise in April, Alsym Energy leased 60,000 square feet at 200 Exchange for its new headquarters.
The company is developing non-lithium batteries suitable for grid and home storage, data centers and heavy industry.
Berkeley Investments has marketed the 352,000-square-foot former Bank of America data center for a variety of different uses including office, tech, life science and data centers since acquiring the property in 2016 for $21.7 million.
In 2021, Berkeley investments formed a joint venture with Chicago-based Singerman Real Estate to add life science infrastructure and obtained $135 million in financing from Acore Capital. In October 2023, Berkeley announced three life science tenants had leased nearly 100,000 square feet.
Following the latest transaction, approximately 50 percent of the space at 200 Exchange is available for lease, according to Berkeley Investments.
Alsym Energy will continue to occupy its 82 Cummings Park Drive facility in Woburn, while establishing 200 Exchange as the new headquarters.
Berkeley Investments said it’s in talks with additional life science, cleantech and advanced manufacturing tenants.
“The same companies also need the ample power and robust infrastructure that Exchange 200 offers in order to conduct their research and to build and test their products,” Berkeley Investments’ Director of Asset Management Dan McGrath said in a statement. “And, just as important, during the current period of ‘belt-tightening’ by start-ups and venture capital-backed companies, Exchange 200 offers rents at half of the cost of other competitive properties in locations like Somerville and Cambridge.”
Colliers’ Bill Lynch and Caroline Evans represented Alsym Energy in the lease transaction. JLL’s Molly Heath, Chris McCauley and Anslee Krouch represented ownership.
