Jones Lang LaSalle has a long history at MIT Technology Square. Our team assisted MIT in the purchase of the park, monitored the completion of four new buildings, led the design and construction efforts to convert 600,000 square feet of office space to lab use, and acted as Landlord Representative during the fit-up of tenant space. When MIT purchased Technology Square in February of 2001, Jones Lang LaSalle was selected to serve as the Property Manager for the 7-building, 1,135,660 square-foot complex, which includes office, lab and retail space. We are providing our services for the entire 10-acre campus, which encompasses 500,000 square feet of existing space, 635,660 square feet of new space, and a 1,500-car parking garage.
- Serving as Property Manager, our team:
- Worked with the General Contractor to mitigate construction issues effecting tenant operations.
- Coordinated the commissioning and start-up of the new lab and office buildings, including the hiring of appropriate engineering staff to ensure a smooth transition for tenants.
- Established a central campus security command center that monitors over 30 cameras, remote intercom and loading dock entry, card access, and a critical system alarm through a fiber optic communication network.
- Developed an extensive tenant retention/campus events program, including the creation of a website for tenant communication.
Jones Lang LaSalle has added significant value at MIT Technology Square, despite the complex nature of the project. We provided efficient management during the development process, improving tenant relationships to the benefit of our client. Due to our expertise managing large, mixed-use assets, we successful overcame numerous challenges inherent to a campus of this size, which demands more centralized systems for security, safety, operations, and cost allocation, including real estate taxes.