Ground Broken on 76,000 SF Building

With resurgence in the Malden office market, Combined Properties has broken ground on a 76,000-sf office project at 195 Canal St. The state-of-the-art building will replace an industrial structure that has been vacant for nearly three years, says Combined president John Pereira. His firm acquired the building last year for $1.2 million.

“Only the foundation and skeleton of the original building will remain,” says Pereira, who adds that Combined plans to have the building ready for occupancy by January. Designed by Davis & Associates, the building will feature new HVAC and mechanical systems, two loading docks and fiber-optic access for telecommunications systems. More important, he notes, is the rate differential, with asking rents of $25 per sf certainly considered a bargain in the local real estate climate.