CONCOURSE SELECTED FOR AWARD BY MIT
February 12, 2016
Cambridge, MA, June 2016 - MIT Lincoln Laboratory (MIT LL), a Federally Funded Research and Development Center, owned by the Massachusetts Institute of Technology, selected The Concourse Group (Concourse) as the recipient of its 2015 Small Business of the Year award. MIT LL engaged Concourse to examine various financing tools to recapitalize some of MIT LL’s key assets.
MIT LL occupies 2.2 million gross square feet in Massachusetts. Some of the facilities require significant capital upgrades or replacement. MIT LL engaged Concourse to develop a comprehensive Business Case Analysis and an Analysis of Alternatives to demonstrate the financial benefits of a proposed 450,000 square foot project known as the West Lab which would replace an obsolete building and deliver a state-of-the art facility to enhance MIT LL’s mission. Concourse also determined the optimal financing vehicle. The project is currently in the design process and construction is expected to begin in 2019.
Tom Shea, a former senior Concourse official who led the assignment said, “This work was a challenge due to the portfolio’s many moving parts, but we enjoyed it immensely. Concourse is perfectly suited to handle this type of analysis and the MIT LL staffs were a pleasure to work with. Our team is thrilled to see the project move into the design phase.“
MIT LL also nominated Concourse to the U.S. Small Business Administration for its 2015 Small Business Award.
About The Concourse Group
The Concourse Group, headquartered in Annapolis, Maryland and with offices in Washington, DC, Colorado, and California, was founded in 2001 and provides consulting support in affordable/workforce housing, real estate privatization, finance, development, planning, and economic analysis. The firm provides end-to-end real property consulting throughout the entire property lifecycle to optimize its client’s portfolio.
Concourse was the winner of the MIT 2016 Small Business of the Year Award for its work developing a plan to recapitalize MIT’s research laboratory campus.
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2015 Small Business of the Year
Massachusetts Institute of Technology Lincoln Laboratory (MIT LL), selected The Concourse Group (Concourse) as the recipient of its 2015 Small Business of the Year award.