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The original item was published from 10/22/2019 4:15:13 PM to 10/22/2019 4:16:01 PM.

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City of Malden News

Posted on: October 22, 2019

[ARCHIVED] Groundbreaking for New Office Building in Malden

Rendering of 11 Charles Street Project

Mayor Gary Christenson recently announced the groundbreaking for a new office building to be built in Malden. The four-story office building totaling nearly 80,000 square feet will be built on the site of the former Ryan Family Amusements at 11 Charles Street.

“I am very pleased that a financial services firm like Cantella & Co., Inc. has chosen to call Malden home, and even more thrilled that they have chosen to build an exceptional and unique building that will enhance the neighborhood and attract other businesses,” said Mayor Christenson.

Cantella & Co., Inc. is an independent broker/dealer and Registered Investment Advisor that services financial professionals nationwide. Cantella had been headquartered in Boston since 1952 before moving to Malden in 2018. Boasting an innovative team and custom-built technology, Cantella supports a variety of affiliation models to enable independent advisors to best serve their clients. They have been renting space at 350 Main Street while permitting and construction occurs.

“In the short time we have been here, we have found Malden to be very welcoming and a great fit for us. Our employees enjoy an abundance of after-work options, and we know this is the place we want to be for the long-term,” said Jennie Devlin, President of Cantella. “The city has been exceptionally helpful with the process of getting construction approvals, which has been vital to keeping our project on track. This saved us time and money by allowing us to design the project quickly,” said Jay Lanstein Chief Executive Officer of Cantella.

The finished building includes onsite parking, is adjacent to Route 60 and is a five-minute walk from Malden Center station with both Commuter Rail and Orange Line access. Cantella will occupy the top floor with their headquarters while the first floor will be available for restaurant and retail uses. The middle two floors will be office space available for leasing. The leasing will be managed by Avison Young in Boston.

The building's architect, Arrowstreet, designed it using heavy timber, making it the first timber office building in the Northeast United States. In addition to its lower carbon footprint, heavy timber construction features wide column spacing, exposed wood structural elements and generous ceiling heights throughout the building. Completion of the building is expected in the fourth quarter of 2020.

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