Boston, June 28, 2017 – Colliers International, Boston and Wise Construction are pleased to celebrate the recent completion of The Engine. Colliers served as project manager for the buildout process and Wise Construction built the space at 501 Massachusetts Avenue in Cambridge’s Central Square.
Last fall, Colliers’ Development and Consulting Services Group was selected by Massachusetts Institute of Technology (MIT) as the project manager with senior vice president Mark Rosenshein leading the team. Wise Construction was then chosen to build out the space. The Engine provides flexible office, conference, meeting, lab and maker space to technology start-up companies selected into the program. The selection criteria is extensive and focuses on companies and technologies looking for access to more patient capital for longer development timelines associated with hard technologies. The Engine aims to introduce start-ups to their entrepreneurial peers through a range of open and closed work spaces for approximately 60 companies, over the first few years of operation, ranging in size from one- to several-person firms.
"We're excited to have played an integral part in this innovative project build-out," said Mark Rosenshein, senior vice president at Colliers International Boston. "Its opportune location in Central Square allows The Engine to tap into a richly innovative network and provide critical resources needed to both launch start-ups and foster a well-connected cross-industry environment."
The 24,000-square-foot space is located on floors two through four of a four-story, brick-and-beam building located in Cambridge’s bustling Central Square. The build out plans for the property consist of incubator space offering co-working space, on-site makerspace and lab space.
"We appreciated the opportunity to work with both Colliers and MIT on The Engine," said John Wise, president of Wise Construction. "To meet the project's goals of developing an innovative space on an accelerated schedule, the entire team collaborated on a lean approach that ultimately led to its success."