Hobbs Brook Real Estate

What Hobbs Brook Real Estate does

Hobbs Brook Real Estate (HBRE), founded in 1952/53 and headquartered at 404 Wyman Street, Waltham, MA, is a privately held, vertically integrated commercial real estate development, ownership, and operations company wholly owned by FM Global, a mutual insurance company. HBRE manages a 4.7-million-square-foot portfolio across 28+ properties in Massachusetts, Rhode Island, Georgia, and Illinois, serving 181+ tenants with Class A office and life-science space and one hospitality asset (Four Points by Sheraton Norwood). The portfolio includes the flagship 2.2M SF Waltham Campus (13 buildings), The Edge Campus (~1M SF in Wakefield, MA), Northwoods (316,000 SF, Johnston, RI), Ledgemont Tech Center (387,000 SF, Lexington, MA), Preston Ridge (146,000 SF, Alpharetta, GA), Park Ridge (255,000 SF, Park Ridge, IL), and 1175-1177 Norwood (170,000+ SF, Norwood, MA).

HBRE operates a single in-house platform spanning leasing, property management and engineering, construction and design (covering tenant fit-outs from 1,500 SF up to 700,000 SF campus developments), and marketing/tenant engagement (custom tenant app, wellness programs, community events). Revenue is generated primarily through long-term and short-term office and life-science leases to mid-to-large enterprise tenants across corporate, life-science, financial services, technology/R&D, and hospitality segments. Pricing is quote-based and individually negotiated against property, size, duration, and tenant-mix considerations, with multi-year contracts as the standard billing cadence and a "Physical Space as a Service" positioning.

HBRE go-to-market combines a dedicated in-house direct leasing team with longstanding broker relationships (Colliers, Cushman & Wakefield/Hayes & Sherry, CBRE, JLL), property-marketing through the company website (with 24-hour inquiry response SLA), and a tenant-engagement ecosystem (farmers' markets in partnership with Healthy Waltham and Stillman's Farm, summer concert series, wellness programs, custom campus app). HBRE is led by President & CEO Peter Gottlieb (joined 2022); Kerry Hawkins serves as VP/Senior Director of Asset Management and Stephen Brodsky as VP/Director of Operations and Property Management, with additional senior hires in 2023–2024.

Name

Hobbs Brook Real Estate

Legal name

Hobbs Brook Real Estate LLC

Website

https://hobbsbrook.com

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

251–500 employees

Short description

Hobbs Brook Real Estate is a privately held, FM Global-owned commercial real estate firm that owns, develops, leases, and manages a 4.7-million-square-foot Class A office and life-science portfolio across 28+ properties in Massachusetts, Rhode Island, Georgia, and Illinois, serving 181+ enterprise and life-science tenants.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131), Lessors of Other Real Estate Property (531190)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Office Real Estate Asset Management (BPAJAMAG)

akta.pro secondary industries

Office Property Management (BPAJAGAA), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Commercial real estate
• Class A office leasing
• Life science properties
• Property management services
• Commercial property development

Headquarters

HQ city

Waltham

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Real Estate Leasing: Long-term and short-term office and life science space leasing to corporate tenants. Revenue generated through rental income from diverse property portfolio including Class A office buildings and life science facilities.
2. Property Management Services: In-house property management providing optimal physical operations, engineering practices, and environmental impact reduction for tenants.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Hobbs Brook Real Estate acquires, develops, owns, and operates Class A office, life science, and hospitality properties across the U.S., delivering real estate space and related services to corporate tenants. Offerings span long-term and short-term leasing of more than 4.7 million square feet across 28 properties, complemented by in-house property management, construction and design, and marketing/tenant engagement services. The company delivers these as a vertically integrated platform on behalf of its parent FM Global.

Product overview

Hobbs Brook Real Estate is a commercial real estate development, ownership, and operations company offering a diversified portfolio of office, life science, and hospitality properties across multiple states. The company operates a vertically integrated platform providing property management and engineering, leasing, construction and design, and marketing and tenant engagement services. The core product portfolio includes flagship properties such as the 2.2M SF Waltham Campus featuring 404 Wyman and 225 Wyman life science/office buildings, The Edge Campus (962,000 SF in Wakefield, MA), Northwoods (316,000 SF in Johnston, RI), Ledgemont Tech Center (387,000 SF life science campus in Lexington, MA), Preston Ridge (146,000 SF in Alpharetta, GA), Park Ridge (255,000 SF in Park Ridge, IL), 1175-1177 Norwood (170,000+ SF in Norwood, MA), and Four Points by Sheraton Norwood hotel. The company manages a 4.7M SF portfolio across 28+ properties serving 181+ tenants.

Differentiator

Problem solved

Functional benefit

Products and services

• Waltham Campus HBRE's flagship multi-building campus on Wyman Street in Waltham, MA, featuring 13 buildings with over 2.2 million square feet of Class A office and life science space, seven miles from Cambridge and twelve miles from Boston with direct access to Route 128 and I-95. Notable tenants include Dassault Systèmes, Seqirus, ZoomInfo, and Dentsply Sirona.
• 404 Wyman A 384,841 SF boutique office building on the Waltham Campus featuring upgraded amenities including a state-of-the-art gym, conference center, remodeled lobby, café, EV stations, and campus app, with tenants including Hobbs Brook Real Estate, ZoomInfo, and FM.
• 225 Wyman A 506,000+/- SF five-story ground-up life science and office development delivered in 2022 with LEED Gold certification, featuring a 10,000 SF boutique fitness center, tech-ready flexible conference center, on-site café and coffee shop, and bike storage; tenanted by Pegasystems, ElevateBio, and Seqirus.
• The Edge Campus A nearly 1 million SF first-class office property across 122 acres in Wakefield, MA including a 1.3-mile walking path, conservation marshland views, and year-round campus events, with tenants including Beth Israel Lahey Health, Eastern Bank, and Tokio Marine.
• 1175-1177 Norwood A 170,000+ SF high-quality Class A office property off Route 1 in Norwood, MA with full-service café, fitness center, abundant natural light, and ample parking; tenanted by Atrius Health and FM.
• Northwoods A 316,000+/- SF LEED Gold-certified Class A office building in Johnston, RI with large unobstructed floor plates, landscaped campus setting with walking path and pond, and direct RIPTA bus line access; tenants include Dassault Systèmes, Dimeo Construction, and American Arbitration Association. Achieved 96% occupancy.
• Ledgemont Tech Center A 387,000 SF five-building life science and office campus on 11+ acres within Greater Boston's premier suburban life science cluster at the intersection of Route 2 and I-95; tenanted by CoNCERT Pharmaceuticals and Shire.
• Preston Ridge A 146,000+/- SF Energy Star-certified Class A office property in Alpharetta (North Fulton County, GA), approximately 30 miles from Downtown Atlanta; six-story multi-tenant building on 13 wooded acres with 360-degree views; tenants include FM and MidFirst Business Credit.
• Park Ridge A 255,000+ SF three-building Class A office campus in Park Ridge, IL, near O'Hare Airport with professional on-site property management and underground and surface parking; tenants include FM Global, Clear Spring Healthcare, and Edward Jones.
• Four Points by Sheraton Norwood Premier Marriott-franchised hotel ideally located between Boston, Providence, and Cape Cod, ranked among the top Four Points assets worldwide, featuring meeting facilities, wedding venues, special event spaces, and tradeshow facilities; recognized as Top 2 Marriott Hotel in North America in 2022.
• Property Management and Engineering Services In-house property management focusing on optimal physical operations, enhanced engineering practices, environmental impact reduction, and health and safety of occupants, with proactive measures to ensure buildings are secure and well-maintained across HBRE's portfolio.
• Leasing Services Dedicated leasing department providing expert guidance to prospective tenants with deep knowledge of the HBRE portfolio and market, working closely with Asset Management, Construction Management, and Property Management teams to deliver integrated solutions.
• Construction and Design Services Construction and design services ranging from 1,500 SF tenant fit-outs to 700,000 SF campus developments, built to the highest engineering, safety, and resiliency standards.
• Marketing and Tenant Engagement Services Tenant engagement services creating vibrant environments with best-in-class amenities, custom tenant app, wellness services, and experiential events, supporting a 50% increase in amenity engagement and a 15% rise in wellness participation across the HBRE portfolio.

Quantifiable outcome

• 683,000 square feet of leases executed in 2024 (15% of portfolio)
• +3 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Shawmut Design and ConstructionmajorImplementation/ SI/ Consulting Partner · 14 November 2024Shawmut Design and Construction is building FM's new state-of-the-art R&D center in Norwood, MA. The project combines world-class research, science, and technology facilities for FM Global, led by HBRE.
• PayettemajorStrategic or Co-development Partner · 14 November 2024Architecture firm leading the design of FM's new world-class R&D center project in Norwood, MA.
• CollierscoreChannel Partner/ Reseller/ Distributor · 26 September 2024Colliers has represented HBRE as landlord representative since 2013, securing 35,000 SF of leases at Preston Ridge III, bringing the property to 92% leased.
• Cushman & Wakefield/Hayes & SherrycoreChannel Partner/ Reseller/ DistributorRepresented HBRE as landlord broker for 125K SF in leases at Northwoods property, with tenants including Zebra Technologies, Dassault Systèmes, and Dimeo Construction.
• CBREcoreChannel Partner/ Reseller/ DistributorCommercial real estate broker representing tenants at HBRE properties including Dimeo Construction at Northwoods.
• JLLcoreChannel Partner/ Reseller/ DistributorJLL represented Zebra Technologies and Dassault Systèmes as tenant representatives at Northwoods property.
• Healthy WalthamminorOthersCommunity partner for farmers market program. HBRE hosts donation-based farmers markets with proceeds supporting Healthy Waltham's food assistance mission.
• Stillman's FarmminorOthersLocal farm vendor for HBRE's farmers markets at Waltham campus, providing fresh produce.

Scale indicators11 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• BioMed Realty: Major private life science landlord (now under Healthpeak Properties) with significant Cambridge/Boston cluster exposure. Comparable asset class and tenant mix to HBRE's life science holdings, though operates at national/international scale.
• Alexandria Real Estate Equities: The dominant publicly traded life science landlord (lab/office) operating in the same Greater Boston cluster. Highly comparable on the life science asset class mix and tenant base (biotech, pharma), although Alexandria operates at national scale across multiple innovation districts rather than HBRE's regional focus.
• Tishman Speyer: Global, vertically integrated commercial real estate owner/developer with significant Class A office holdings in major US markets. Broader than HBRE in geography and product mix, but a useful incumbent-scale comparable given its ownership, leasing and on-site property management platform.

Direct peers

• Marcus Partners: Boston-based private real estate investment manager focused on office/life science repositioning across Greater Boston. Comparable vertically integrated owner/operator model and submarket footprint along Route 128.
• Piedmont Office Realty Trust: Publicly traded office REIT focused on Class A buildings in select tier-one US markets. Directly comparable office product and tenant base; noted because Stephen Brodsky (VP, Director of Operations & Property Management at HBRE) previously served as GM/Lead at Piedmont.
• King Street Properties: Private life science developer and landlord concentrated in Greater Boston and Cambridge. Closely comparable niche focus on lab-enabled office and ground-up life science product, mirroring HBRE's strategy at the Ledgemont Tech Center and 225 Wyman.
• Boston Properties: Largest publicly traded office REIT in the Boston market and a major direct competitor in the same Route 128 and Cambridge submarkets where HBRE concentrates. Directly comparable in product type (Class A office and life science) and tenant base of large enterprise occupiers, though far larger in scale.
• The Davis Companies: Privately held, vertically integrated commercial real estate investor, developer and manager based in Greater Boston. Overlaps with HBRE's suburban office/life science holdings and integrated service platform.
• Nordblom Company: Long-standing private commercial real estate firm headquartered in the Boston area, with development, leasing and property management of office and mixed-use product across the suburbs. Closely mirrors HBRE's integrated model and New England submarket focus.

Regional players

• Anchor Line Partners: Boston-based commercial real estate investment firm with concentrated New England office holdings and similar tenant profiles. Useful as a regional scale/strategy peer, though typically smaller on a per-deal basis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hobbsbrookrealestate
• LinkedInlinkedin.com/company/hobbs-brook-real-estate
• Instagraminstagram.com/hobbsbrookrealestate
• Xx.com/HobbsBrook

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hobbs Brook Real Estate