Project Progress: Acquired by Proponent


About Riverworks Innovation Center

480 Pleasant Street, Watertown, MA

The center, located at 480 Pleasant Street, is composed of three interconnected three- and four-story brick office buildings totaling approximately 200,000 square feet of space. The property was formerly the headquarters to Boston Scientific Corporation until the medical device company vacated the site. 

As its name suggests, the Riverworks building is located directly on the Charles River, offering river views in many of the spaces and making is an easy walk to the Charles River Walk for employees. The site sits on approximately 11 acres of land and offers ample parking with 3.5 parking spaces per 1,000 square feet. It’s easily accessible both from the Mass Pike and via public transit. Recent and planned renovations include creating more usable outdoor space for employees to enjoy as well as the recent addition of a fitness center and cafeteria. Many of the offices feature the original brick and beam architecture and there is a genuine sense of history here with old cotton mills and antique artifacts decorating the common areas. The old clock tower still towers above the main entrance. A new main lobby is currently under construction. The building currently offers room for tenants to grow and is a great space for burgeoning tech companies to reside.

Construction Cost $63,800,000.00
Acquisition Cost $63,800,000.00
Square Feet 200,000
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Oct 16, 2018

GEM Realty Capital has acquired the property at 480 Pleasant Street in Watertown, MA, known...

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