Four years after it was conceived, Telecom City finally has a tenant. Sort of.In an announcement that caught proponents of the 200-acre technology park off guard, an Internet service provider known as HarvardNet said this week that it would be the first company to relocate into the complex. The firm has signed an 87,000-sf lease at One Cabot Rd. in Medford, one of three cities where the planned 1.4 million-sf park will be located. “Moving to a larger facility inside Telecom City not only supports our growth plans for the future, it also allows us to take advantage of the park’s focus on the telecommunications industry,” HarvardNet CEO Mark Washburn says.

The only problem is One Cabot Rd. is not actually in Telecom City, and the Mystic Valley Development Commission that was formed to make the park a reality expressed surprise at the proclamation. Owned by Berkeley Investments, the site is close to the park, but has no official connection to the venture, says MVDC spokeswoman Deborah Burke.

Even with the mix up, MVDC sees some benefits in HarvardNet’s decision. Besides having an established Internet service provider trumpeting the potential of Telecom City, and bringing more than 300 professionals into the area, Everett Mayor David Ragucci says the deal underscore’s the park’s potential.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.