Parking Garage Nearly Complete, Two More Office Buildings Planned at Former Parker Brothers Site in Beverly
- Nov 08, 2014
By Veronica Grecu, Associate Editor
Roughly 28 miles north of Boston, the 54-acre property that once served as the home office of the legendary game companies Parker Brothers and Atari is going through major changes.
Cummings Properties, a commercial real estate development firm based in Woburn, acquired the site known as 50 Dunham Road for $2.3 million from Wight & Company in December 2011. According to an official statement, the property, which was built in 1976 and included only one office building, was nearly vacant at the time. Cummings started renovating the 103,000-square-foot office structure shortly after the deal was closed. The renovated building, which displays commemorative signs and artwork that honor the history of the two game manufacturing companies, is now 85 percent leased to several firms, including Dessange International and Microline Surgical which occupies around 54,000 square feet of space.
Furthermore, in mid-2013 Cummings secured approval from the Beverly City Council to build a second, 120,000-square-foot building on the site, as well as a multi-level parking facility for 475 cars, which is nearing completion. According to a prepared statement, the five-story garage has been topped with 832 solar panels that generate more than 320,000 kWh of clean energy each year to power the existing structures on Dunham Road, as well as future buildings. The final stage of construction at the five-level parking structure calls for the creation of enclosed bridges that will allow clients and visitors to walk from the garage directly into a planned mixed use building.
As reported by the Salem News, Cummings plans two more structures at the site. The company has already poured the foundation for a five-story commercial building at 48 Dunham Road, but the rest of construction will start sometime in spring next year and only after Cummings finds an anchor tenant for the space. “The plans are largely complete, but we will build out the interior to suit,” said Dennis Clarke, president and CEO of Cummings Properties. “This is an ideal opportunity for a company to have a facility that is truly tailored to its needs.” At 144,000 square feet, 48 Dunham Road was designed to accommodate office or lab uses and will offer energy-efficient construction, Class A interior finishes and modern design features.
Plans for a second building at 52 Dunham Road, immediately east of the renovated Parker Brothers headquarters, are currently under review with Beverly city officials. According to the news source, 52 Dunham Road will rise five stories above ground and will encompass approximately 150,000 square feet of space.
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Renderings courtesy of Cummings Properties