The speculative building at 138 Conant Street, which began construction in October 2007, is a highly visible, conveniently located, first-class office building on the Beverly/Danvers line, offering over 470 feet of prime frontage on Rte. 128.  The building, which is expected to be completed by mid-October 2008, is developed by Beverly-based, Connolly Brothers Construction, Inc. who are currently in their fourth generation of family leadership under owner, Stephen J. Connolly IV. 

“I took a ‘huge financial risk’ constructing this $11 million building in this uncertain economy, but saw a market opportunity for the building in this location,” says Stephen Connolly. “It became apparent to me that it’s very difficult for a tenant to come along and commit to a building that hasn’t been built.  I think having a company like Wachovia move in will definitely set a tone with what we are doing here.  In addition, they will bring approximately 40 jobs to the Beverly area from offices elsewhere where they merged with another brokerage firm, AG Edwards Inc.,” he adds.

This impressive 4-story building features a red granite façade, elegant cherry-wood and granite atrium, an onsite cafeteria, fitness room and showers located on the first floor.  Other amenities include secure, underground parking for 55 cars out of the total 260 spaces.  You can even catch a glimmer of the ocean from Wachovia’s future fourth-floor office beyond downtown Beverly.

Klemmer Associates is the exclusive broker on the building.  For photos and more details, please visit the Exclusive Listings section of our website.

“The North Shore Chamber of Commerce congratulates Klemmer Associates and Connolly Brothers for their success in these challenging economic times,” says Chamber President Bob Bradford. “We are encouraged by this positive news and hope it is a sign of more movement to come in the commercial real estate market.”

“It’s nice to see that high quality office space in an attractive location is being leased even in these difficult economic times,” adds Bill Scanlon, Mayor of Beverly.