The Bulfinch Companies

The Bulfinch Companies Inc.
Private
Industry Real Estate
Founded 1936
Founder Samuel W. Poorvu
Headquarters Needham, Massachusetts, U.S.
Key people
 Eric Schlager, CEO, Robert A. Schlager, President, and S. Lawrence Schlager, Chairman
Products Property Management, Property developer
Website www.bulfinch.com

The Bulfinch Companies, Inc. is a national real estate firm headquartered in Needham, Massachusetts.

History

Bulfinch was founded in 1936 by Samuel W. Poorvu, a Lithuanian immigrant who began his career as a bricklayer and soon started a small company in Boston building and developing Post Offices. Poorvu [1] was dubbed "The Post Office King of America" by the Wall Street Journal for his role in developing over 100 postal facilities nationwide for the United States Postal Service.[2] Bulfinch is owned and has been continuously operated by the Schlager family.[3] Since inception, Bulfinch has "developed, acquired, and re-positioned in excess of $1.5 billion in commercial real estate assets." Bulfinch owns over 3.5 million square feet of property, primarily centered in New England. Bulfinch is currently in its third generation of management.[4]

Awards

Bulfinch was awarded the "Distinguished Real Estate Award" by the National Association of Industrial & Office Properties in 2007.[5] They have also been awarded commendations by the Mayor of Cambridge, Massachusetts.[6] The City of Cambridge, Massachusetts awarded Bulfinch the Certificate of Preservation Merit.[7] They received LEED Gold Certifications by the USGBC.[8] Several Bulfinch properties have earned the United States Environmental Protection Agency's Energy Star certification. Banker & Tradesman has identified several Bulfinch sites as "Hot Properties".[9] The American Council of Engineering awarded Bulfinch a silver award for Cambridge Discovery Park in 2008.[10] Bulfinch received recognition at the 2011 GoGreen Awards for "their work in reducing storm water runoff and improving water quality".[11]

Acquisitions

Lifetime Center

Bulfinch acquired the Atrium Mall in Chestnut Hill, Massachusetts from Simon Property Group in July 2012.[12] The mall was approximately 300,000 square feet.[13] According to a press release issued by Bulfinch, the company plans to re-position the asset as a mixed-use medical office property, partially demolishing it, and then rebuilding and renovating it. It is going to be renamed the Lifetime Center and reopening in 2017.[14]

The Harvard Square Post Office

Samuel Poorvu originally developed the Harvard Square United States Post Office located in Cambridge, Massachusetts in 1954.[15] This facility was redeveloped in 2000 by Bulfinch.[16]

The Polaroid Building

The building was the "first modern industrial structure in Cambridge, Massachusetts" and was designed by Shepley Bulfinch in 1938 for B and B Chemical Company.[17] The building was acquired by Polaroid Corporation and was used as their corporate headquarters for some time. The building is listed on the National Register of Historic Places since 1982.[18] Bulfinch acquired the property in 2000.[19][20]

Cambridge Discovery Park

Cambridge Discovery Park is located on the site of the former Arthur D. Little Company headquarters in Cambridge, Massachusetts. It is an 820,000 SF master-planned development with multiple LEED certified buildings.[21] It is home to Forrester Research world headquarters and the Harvard-Smithsonian Astrophysical Observatory.[22][23] Siemens AG also leases space in the property.[24]

References

  1. ↑ "Samuel W. Poorvu Professional Profile". New England Real Estate Journal. 1967. Retrieved 6 August 2012.
  2. ↑ LM KOHLMEIER (June 16, 1960). "Postal Plums: More Investors Pick Up High Yields by Building, Leasing Post Offices". The Wall Street Journal. Retrieved 2 August 2012.
  3. ↑ Julie Carrick Dalton (July 4, 1999). "Family affair Bulfinch Cos., now in its 3d generation of family ownership, has assets of $250 million and manages 3 million square feet". The Boston Globe. Real Estate. p. J.1. Retrieved 2 August 2012.
  4. ↑ "Previous Version of Bulfinch Companies Website-Biographies of Executives". The Bulfinch Companies, Inc. Retrieved 6 August 2012.
  5. ↑ "NAIOP Selects The Bulfinch Companies to Receive Distinguished Real Estate Award". National Association of Industrial & Office Properties. 2007-07-09. Retrieved 6 August 2012.
  6. ↑ "Cambridge GoGreen Awards" (PDF). City of Cambridge, Office of the Mayor. Retrieved 6 August 2012.
  7. ↑ "Agenda". Cambridge City Council. Retrieved 7 August 2012.
  8. ↑ Laurie Forbes (July 10, 2012). "Bulfinch Earns LEED Gold for Forrester HQ Bldg.". CoStar. Retrieved 7 August 2012.
  9. ↑ Jim Cronin (July 16, 2012). "Hot Property". Banker & Tradesman.
  10. ↑ "Press Release: Bulfinch Wins Silver Award at the ACEC/MA Gala" (PDF). The Bulfinch Companies Inc. April 28, 2008. Retrieved 7 August 2012.
  11. ↑ "2011 GoGreen Awards Ceremony May 26". City of Cambridge. Retrieved 7 August 2012.
  12. ↑ Laurie Forbes (July 23, 2012). "Bulfinch Pays Simon JV $46 Million for Atrium Mall". CoStar Group. Retrieved 6 August 2012.
  13. ↑ Chris Reidy (July 23, 2012). "Atrium Mall in Chestnut Hill purchased by Bulfinch Cos.". The Boston Globe. Retrieved 6 August 2012.
  14. ↑ Allyson Quinby. "BULFINCH ACQUIRES FORMER ATRIUM MALL PROPERTY IN CHESTNUT HILL" (PDF). The Bulfinch Companies, Inc. Retrieved 6 August 2012.
  15. ↑ "New Post Office Now Under Construction". The Harvard Crimson. October 20, 1953. Retrieved 6 August 2012.
  16. ↑ "Square Post Office To Close Next Year for Renovations". The Harvard Crimson. September 19, 2000. Retrieved 6 August 2012.
  17. ↑ "B.B. Chemical Company, Corporate headquarters and research facility". Shepley Bulfinch. Retrieved 6 August 2012.
  18. ↑ "B and B Chemical Company". U.S. Department of the Interior, National Register of Historic Places. Retrieved 6 August 2012.
  19. ↑ "784 Memorial Drive". The Bulfinch Companies, Inc. Retrieved 6 August 2012.
  20. ↑ Sandra M. Chung (October 23, 2001). "Polaroid Goes Bankrupt; Plans to Sell Existing Assets". The Tech, Massachusetts Institute of Technology. Retrieved 6 August 2012.
  21. ↑ Laurie Forbes (July 10, 2012). "Bulfinch Earns LEED Gold for Forrester HQ Bldg.". CoStar. Retrieved 6 August 2012.
  22. ↑ "Bulfinch's 820,000 s/f Cambridge Discovery Park receives GoGreen Award for Stormwater Management". New England Real Estate Journal. June 24, 2011. Retrieved 6 August 2012.
  23. ↑ "Getting Around the CFA". Harvard-Smithsonian Center for Astrophysics. Retrieved 6 August 2012.
  24. ↑ "Siemens leases Cambridge office space". The Boston Globe. October 23, 2008. Retrieved 6 August 2012.
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