August, 2021 Rob Nahigian, FRICS, SIOR, CRE, MCR of Auburndale Realty Co., Newton, Mass. is pleased to announce the completion of a corporate assignment with Miele, Inc. as its tenant representative. Miele has leased approximately 6,163 square feet of office/innovation space at Two Corporation Way, Peabody, MA. The site search started from February, 2021 and a lease was signed August, 2021. Miele’s corporate headquarters is located in Princeton, NJ. Miele is a German manufacturer of high-end domestic appliances and commercial equipment, headquartered in Gütersloh, North Rhine-Westphalia. The company was founded in 1899 by Carl Miele and Reinhard Zinkann, and it has always been a family-owned and family-run company. Miele is the world’s leading manufacturer of high-end appliances for domestic and commercial use, including cooking, baking and steam-cooking appliances, refrigeration products, coffee makers, dishwashers; and laundry and floor care products. Throughout the world, the family-run enterprise, now in its fourth generation, employs a workforce of 21,000 and generated revenues exceeding $5.3 billion in 2020.Miele received numerous design and innovation awards for its products and routinely ranks among the top recognized brands in Europe. In North America, Miele is marketed as a high-end major appliance brand and competes against brands such as Küppersbusch, Sub-Zero, Wolf & Cove, Gaggenau, Fagor, Viking Range, Dacor, Asko, JennAir, and Thermador.Miele is establishing a new Emerging Technologies Lab (ETL) at Two Corporate Way to provide a creative and collaborative environment for applied research and proof-of-concept studies with startups and other innovative research partners in the U.S. This innovation lab seeks to extend research collaborations with external partners in a wide range of cutting edge technologies, including but not limited to robotics, artificial intelligence, sensors, food/health tech, energy & sustainability, HMI and cyber security. Serving as the interface between Miele’s R&D units and the highly dynamic, innovative startups community, the ETL works like a startup, with startups, while enjoying the resources and stability of a large, successful enterprise. Auburndale Realty Co. exclusively represented the Tenant.
Month: August 2021
Guidance and comprehensive search for good places for the purpose of investing
Mr. Nahigian conducted a facilities evaluation and market search that included a geographic area from Western and Central MA to SE MA and Rhode Island. Springfield, Worcester, Rt. 495, SE MA and Central MA were the focus points studied. The study unveiled more than 45 sites, land and/or existing buildings with the minimum criteria of having 90,000 to 120,000 square feet with outdoor parking for over 120 cars and trucks. The property at 7-9 Latti Farm was available by the owner. The property includes over 38 acres of land with the building.
HMI also had a location in Woburn, MA at Cummings Park that it recently consolidated to Whitinsville, MA. During the site selection process, Rob Nahigian contacted MA Office of Business Development and MassEcon for guidance on possible sites, funding, financial incentives and loan packages for Woon-Tech
The renovation construction should be completed near the end of the summer, 2021. Woon-Tech expects to occupy the space in the Fall, 2021. Auburndale Realty Co. exclusively represented WoonTech. The property will be completed with renovations and reconstruction during August, 2021.