One & Three Strathmore Road Now Fully Leased
Lincoln Property Company (LPC) is pleased to announce that Electric Hydrogen Co. has completed a 20,400 square-foot lease expansion into 3 Strathmore Road, Natick, MA. The full-building expansion comes only five (5) months after Electric Hydrogen initially opened their east-coast Headquarters by taking 10,201-square-feet next door at One Strathmore Road. LPC Senior Vice President, Tim Latham represented Electric Hydrogen in both the original relocation and subsequent expansion.
“It’s amazing how quickly Electric Hydrogen is growing and after exploring various expansion alternatives, it became clear that Three Strathmore Road provided the best operational and financial solution. The 20,400-square-foot building offered Electric Hydrogen an opportunity to expand in a relatively contiguous manner while taking advantage of the building’s in-place, robust infrastructure” Latham said.
Founded by a team of energy transition veterans from First Solar and Tesla, Electric Hydrogen is building the world’s most efficient and low cost electrolyzers to produce green hydrogen from water and renewable energy at truly global scale. Low cost green hydrogen has the ability to ease the world’s dependence on fossil fuels and to decarbonize many of the most polluting industrial sectors.
Earlier this year, Electric Hydrogen closed a significant financing round led by Breakthrough Energy Ventures, Prelude Ventures, and Capricorn’s Technology Impact Fund, and has subsequently announced additional funding from Energy Impact Partners. The clean hydrogen company needed additional space to accommodate employee growth and to support manufacturing capacity of their ultra-efficient hydrogen electrolysis systems.
“Electric Hydrogen is laser-focused on delivering green hydrogen at a cost that’s competitive with fossil fuels, so being able to expand quickly at our existing location in the Boston area allows us to keep that focus on our core business goals,” said Derek Warnick, CFO.
The Landlord was represented by the Lincoln Property Company team of Tim Latham, Chris Devaux, and James Tambone. Prior to Electric Hydrogen, One & Three Strathmore were most recently occupied by MilliporeSigma. The Landlord, an affiliate of LPC, purchased the asset in late 2019.
“Electric Hydrogen embodies the innovation and mission-driven spirit that makes Massachusetts a leader in future technologies,” said Scott D. Faber, Senior Vice President of Investments at LPC. “We are very fortunate to have Electric Hydrogen as a client at One and Three Strathmore and look forward to witnessing their continued success for the years to come.”
Read coverage in Bisnow Deal Sheet
Chris Devaux James Tambone Landlord Representation Life Science Scott Faber Suburban Brokerage Tenant Representation Tim Latham