Massive Lease Signed by Tech Company in Maynard

The rebranding and repositioning of the former Clock Tower Place in Maynard is coming along nicely. Stratus Technologies, a tech firm that provides software and servers, is moving into a 102,321 square foot space in the development. According to Cushman and Wakefield, the leasing agent, this lease is the largest in the I-495 West submarket so far in 2015.

In 2014, Stratus Technologies was acquired by Siris Capital Group, a private equity firm, for $352 million. This prompted many additional changes for the tech firm, including a relocation to a larger, more versatile space. Previously, Stratus Technologies was located at 111 Powder Mill Road, which is also located in Maynard. The firm plans to be moved into its new location by March 2016.

This represents a major reversal of fortunes for the site formerly known as Clock Tower Place. The development was foreclosed not that long ago. Since then, the site was acquired by Saracen Properties and Artemis Real Estate Partners, who immediately launched an ambitious rebranding effort. The 50-acre campus is now known as Mill & Main, and Stratus isn't the only business opening its doors there. Battle Road Brewing company, a brewery and brewpub, plans to open a location there in the not-too-distant future.

To keep track of additional real estate developments in Maynard and other Boston suburbs and neighborhoods, check back regularly with Boston City Properties. We constantly update our commercial real estate news to ensure that you always have the latest and best information.

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