Philips to move company headquarters from Andover to Cambridge
BOSTON GLOBE: The Dutch health care technology company Philips NV plans to relocate its North American headquarters from Andover to Cambridge, bringing with it about 2,000 employees.
The company said Thursday that in 2020 it will set up shop in a building now under construction at Cambridge Crossing, a large development underway on the Cambridge-Somerville-Boston line. About 300 ultrasound system manufacturing workers will remain in one building at the company’s Andover campus.
Philips is the latest major life sciences firm to relocate in and around booming Kendall Square, and the latest in a string of companies to leave behind suburban campuses for a spot in the core of Greater Boston.
Philips will move North American HQ to Cambridge — along with 2,000 workers
BOSTON BUSINESS JOURNAL: Royal Philips is moving its North American headquarters and 2,000 employees from Andover to Cambridge in 2020 as the company continues its evolution from a consumer products company into a health-technology company.
The 243,000-square-foot Philips headquarters deal is the first commercial lease for Cambridge Crossing, the 45-acre mixed-use campus formerly known as NorthPoint.
With demand spiking for office space, developers are building ‘on spec’
BOSTON GLOBE: An unusual thing happened one November Saturday in East Cambridge: Nearly 9,000 tons of concrete were poured for the foundation of a large office building — one that does not yet have a single tenant lined up. It’s the sort of big bet that may grow more common as the Boston area’s real estate boom rolls on: Developers putting up buildings “on spec,” without signed tenants, in the hope that if they build it, someone will come.
Boston Ranks in Top Ten Cities Most Prepared For the Future
BUSINESS INSIDER: In 2017, being a "smart city" isn't just about having fast internet. Officials around the world are gathering all types of data — on traffic, pollution levels, and energy use — to make their cities safer, healthier, and more efficient. The definition of a smart city has recently broadened to include environmental sustainability, affordable and reliable transit, access to education, and a local economy with businesses that explore new technologies
Elected Officials Join DivcoWest in Groundbreaking Ceremony on 45-Acres in Cambridge, Boston, and Somerville
DivcoWest joined Cambridge Mayor E. Denise Simmons, Cambridge City Manager Lou DePasquale and elected officials from the Commonwealth of Massachusetts to celebrate the long-awaited re-launch of the 45-acre development site now known as Cambridge Crossing (“CX”).
NorthPoint Site Gets a New Name
BOSTON GLOBE: One of the biggest development projects in the core of Greater Boston is getting underway in earnest. DivcoWest is readying several construction sites for its 45-acre NorthPoint campus on the borders of Cambridge, Boston, and Somerville, where it plans to put five office buildings and about 2,400 condos and apartments over the coming years. It’s also giving the place a new name: Cambridge Crossing.
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DivcoWest and its predecessor, Divco West Properties, were founded by Stuart Shiff in 1993. DivcoWest is an experienced, vertically-integrated operator, owner and asset manager with approximately US $5.0 billion in assets under management as of 2Q 2017. DivcoWest employs approximately 110 employees across corporate offices in San Francisco, Los Angeles, and Boston as well as numerous property management locations across the United States. Since its inception, DivcoWest and its predecessor have acquired more than 110 investments - in excess of 425 buildings or 40.2 million square feet of commercial space - primarily throughout the United States utilizing total costs of approximately US$9.3 billion. DivcoWest’s real estate portfolio currently includes existing and development properties consisting of office, R&D, lab, industrial, retail and multifamily.