Cabot, Cabot & Forbes, Community Leaders Break Ground on Innovation Space for Leading Edge Companies

WOBURN - Cabot, Cabot & Forbes (CC&F), a leader in transit-oriented development for Greater Boston’s new economy workers, broke ground this Thursday on “The Bolt,” a 180,000 SF center for innovation along the New Boston Corridor in Woburn - one of the nation’s leading markets for technology, energy, life sciences, and manufacturing.

Lt. Gov. Kim Driscoll, Woburn Mayor Mike Concannon, Rep. Richard Haggerty (D-Woburn), Woburn City Council President Jeff Dillon, along with CC&F CEO Jay Doherty and representatives from the U.S. Environmental Protection Agency were there to celebrate the start of construction.

“The Bolt exemplifies CC&F’s vision for future development, embracing an entrepreneurial, dynamic and fast-paced culture that requires innovative and detailed thinking for creative solutions in real estate, development, management and investment, “ CC&F CEO Jay Doherty said. “We are bullish on this Corridor. The versatility of the space, proximity to Boston and major highways, and the adjacent growing commercial, retail and residential transit hub will attract the next group of innovative companies.”

The Bolt, which is being built on spec by John Moriarty & Associates, will be versatile enough to accommodate the needs of innovative companies in a wide spectrum of industries, including energy, manufacturing, life sciences, and technology, and is expected to create 300 new jobs. It will sit in a prime location in what has become a hub for growing, innovative businesses, located just North of Boston, along Routes 93 and 95 (128) and adjacent to the Anderson/Woburn MBTA station, which is convenient to Boston’s downtown and other regional destinations via the MBTA Commuter Rail and Amtrak Downeaster rail lines. The building is expected to be ready for occupancy in the second quarter of 2027.

The project continues CC&F’s $400 million investment in the redevelopment of the former Superfund site that includes Emblem 120, a 289-unit luxury multifamily housing/retail development and Zero New Boston, a proposed multifamily project that will include 250 apartment units, garaged parking spaces, and 1,200 square feet of retail.

“‘The Bolt' is a clear example of the benefits of transit-oriented commercial and residential spaces. This development will provide job opportunities and reasonably-priced housing near transportation hubs —which is good for workers, businesses and our economy,” said Lieutenant Governor Driscoll. “We look forward to coming back when these developments are completed.”

Local officials from Woburn praised the project as a continuation of the City’s and the State’s efforts to redevelop the former Superfund site into a major transit-oriented hub for residential life and the Commonwealth’s new generation of innovative companies.

“Today’s ground breaking is a celebration of what can be accomplished when forward-looking developers, state transportation initiatives, a thriving community and city representatives work together to create a strategic vision,” Woburn Mayor Mike Concannon said. “Every step we take together to realize the potential created by the New Boston Street Bridge is a win for Woburn.”
Added Rep. Richard Haggerty (D-Woburn): "The Bolt project will bring innovative companies across industries like life sciences, technology, and advanced manufacturing, and hundreds of high-paying jobs to our community. I was happy to help move projects like this forward when I served as Woburn City Council President, working with Cabot, Cabot & Forbes to ensure these developments benefit our entire community. This $400 million investment continues our efforts to turn the Anderson RTC area, a former Superfund site, into a thriving economic hub with smart, public transit-oriented development."

Woburn City Council President Jeff Dillon said: “Today, we celebrate an important milestone. I want to thank and recognize the contributions of Ward 6 City Councilor Lou DiMambro and Cabot, Cabot & Forbes for always taking into account the interests of our residents as we build for the future responsibly.”

The Federal Environmental Protection Agency was also a major partner in the redevelopment of this area. “EPA is proud to play a role in transforming the Industriplex Superfund site into a space that advances community growth and opportunity,” said EPA Regional Administrator Mark Sanborn. “Through our Superfund program, EPA is committed to turning once-contaminated properties into safe, vibrant places that contribute to local economies and improve the quality of life in surrounding communities.”

CC&F would like to thank its many partners in this project. The Bolt was designed by Jacobs, a premier architectural and engineering firm that operates in 40 countries. Cushman & Wakefield will be the exclusive leasing agent for The Bolt.

Kawa, a nationwide lender specializing in commercial real estate financing, with over $1 billion in originations across all asset types, provided $79 million in construction financing for the project. “The Bolt” reflects Kawa's strategy of partnering with best-in-class sponsors like Cabot, Cabot & Forbes to deliver high-quality assets in markets with strong fundamentals,” said Jeremy Lash, Director at Kawa Capital Management. “Kawa is excited to help bring this transformative project to fruition and support the continued growth of Greater Boston's innovation economy.”

Aries Capital, a diversified commercial real estate investment and boutique capital advisory firm with offices in Miami and Chicago, served as an advisor in structuring a bespoke financing solution for The Bolt. “In an increasingly dynamic capital markets environment, Kawa delivered a strategic solution that positions CC&F to bring a versatile manufacturing asset to the New Boston Corridor,” said Devon Stoloff, Principal at Aries.

The Commerce Way area is already one of the more significant hubs of both residential and commercial transit-oriented development in the region. Major employers include Raytheon, Ultragenyx, and Amazon Robotics. They are joined by an array of smaller firms and startups such as Covaris, Boston Metal and Continuus Pharmaceuticals. The City of Woburn has supported employers in the area by supporting the development of 1,275 multifamily units including 120 Emblem, Station 316, and Woburn Village. The Commonwealth of Massachusetts, working with Woburn and EPA Region One, has been a consistent investor in critical public infrastructure, installing both the new I-93 ramps and the MBTA Anderson terminal itself. The most recent investment, by MassDOT, is a $30 million bridge that reconnects the two sides of the area, which will open in the summer of 2026.