Paul Ognibene Cohasset

Paul Ognibene / Urban Spaces Sign First Lease at New East Cambridge Mixed-Use Development

CAMBRIDGE, MA–Paul Ognibene, the CEO of the Cambridge-based real estate development company Urban Spaces, has signed pet supply retailer, Loyal Companion to a 4,000 SF lease at 95 First Street in East Cambridge. The store is latest retail tenant signed to the First Street Corridor, a $275 million mixed-use project conceived by Paul Ognibene.  The project is designed to reinvigorate the neighborhood that connects Lechmere Station and Kendall Square.

Loyal Companion is an ideal fit for the retail mix we’re assembling for the commercial and residential tenants of the First Street Corridor, as well as the larger East Cambridge multifamily market,” noted Paul Ognibene. “The Conviser Group, which handles the leasing of our 45,000 square feet of retail space along the First Street Corridor, is helping us to develop the appropriate blend of retailers and restaurants to best serve the needs of the community.

“Loyal Companion will be meeting the demand for pet supplies and services after the closing of Petco,” continued Paul Ognibene.  Petco decided to not renew their lease at 119 First Street following passage by the Cambridge City Council of an ordinance prohibiting the retail sale of commercially bred animals.  “Loyal Companion offers high-quality food and supplies, as well as on-premise grooming, training, daycare, and self-wash,” according to Paul Ognibene.

Paul Ognibene tapped architectural firm Perkins Eastman to design 95 First Street.  A single-story 10,000 SF retail building, it is located just a short walk from Cambridge Crossing. The First Street Corridor is located across from CambridgeSide, and upon completion will be comprised of over 250 apartments, 50,000 SF of office, 45,000 SF of retail space, as well as a 23,000 SF open-air park.

“There’s an incredible amount of unique, multi-family growth in East Cambridge,” said Jeff David, CEO of Independent Pet Partners (parent company of Loyal Companion). “First Street Corridor is in the heart of the community. That’s where we like to be because pets are the heart of the community too. This mixed-use project by Paul Ognibene allows us to provide the highest quality food, supplies and services that prolong the life of the pet and help make the community a happier place overall.”

By Paul Ognibene

Official blog for Paul Ognibene of Cohasset