Athenahealth will be leaving its longtime home in Watertown and the company’s headquarters will be relocated to Brighton.
For nearly 20 years the health care tech company has been located at the Arsenal on the Charles, a complex the company once owned. Athena has leased 100,000 sq. ft. at Boston Landing in Brighton for its corporate headquarters, the according to the Real Reporter. The new space is about one-third the size its office space in Watertown, according to the Boston Globe.
The company purchased the Arsenal on the Charles from Harvard University in 2013 for $168 million. They began plans to renovate the former U.S. Army facility a couple years later, but then in 2017 the began a series of layoffs.
The company was purchased by Veritas Capital and Evergreen Coast Capital in 2018. In 2o19 the Arsenal on the Charles was sold Alexandria Real Estate Equities for $525 million.
In 2022, Athenahealth was sold to Bain Capital and Hellman & Friedman for $17 billion.
In February, the company reduced its workforce by 3 percent.
Kind of ironic, the whole redevelopment of the Arsenal was the brainchild, and instigated, by the former CEO of Athenahealth, Jonathan Bush.
What ever became of the ice-cubed money for improvement? I remember they wanted Watertown to be in the hook for some and we ( I believe) pushed, back rightly so. One question I asked was what would happen if they downsized or went bankrupt given I believe the $$ was based on growth of the company?( some state $$ and $$ from them) .I dont remember getting an actual answer to this question as I think they thought it a silly question as everything was rosy at the time!
Biotech REIT Alexandria Real Estate Equities plans to cut its construction spending by $250M this year by pausing or delaying projects in its portfolio.
Wonder how their developments across Watertown will be affected including the plans for the large complex adjacent to Target?
Great job Watertown. Increasing linkage fees driving out businesses. May not be the main reason but definitely a factor.
Just to clarify, linkage fees are only on new developments.
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