The fulfillment provider is relocating operations from 235 Barnum Road in Devens where it occupies 184,077 square feet. The lease deal was announced by brokerage firm Newmark Knight Frank.
Hilton's first tri-branded property is the most recent completion in what is quickly one of the hottest submarkets whose evolution is supporting both new development and giving new life to some historic structures.
The East Park SRO renovations were funded through a mix of equity from federal low-income housing tax credits, a grant from the Federal Home Loan Bank of Chicago and debt financing from the Illinois Housing Development Authority.
In an example of office-occupying activity, a long-term lease was recently inked by Waste Management Inc., which is to occupy nine floors at Capitol Tower consisting of approximately 284,000 square feet.