Byrne, Mullen, Varholak and Lashar of Richards Barry Joyce & Partners sign 29,769 s/f in leases

October 07, 2010 - Front Section

400 Crown Colony Drive - Quincy, MA

Richards Barry Joyce & Partners, LLC (RBJ&P) represented Quincy Office Investors, Inc. in four leases at 400 Crown Colony Dr.
The tenants in the leases are Comcast Corp., Mutual of Omaha, CareerBuilder, and Systagenix Wound Management.
The RBJ&P team of Robert Byrne, Chris Mullen, Jon Varholak and John Lashar represented the landlord in the transactions. RBJ&P is the exclusive leasing agent for 400 Crown Colony Dr.
Details of the four leases include:
*Comcast Corporation signed a new lease for 14,679 s/f of office space on the fifth floor of 400 Crown Colony Dr. Comcast was represented in the lease by CresaPartners.
*CareerBuilder signed a new lease for 2,739 s/f of space on the third floor. Grubb & Ellis represented CareerBuilder.
*Mutual of Omaha signed a new lease for 3,928 s/f of office space on the building's sixth floor. Mutual of Omah was represented by Grubb & Ellis. "This lease represents the second lease completed with Mutual of Omaha at 400 Crown Colony in less than two years, and we are proud that they again chose our building in which to operate their business," said James Zilora, vice president of Quincy Office Investors.
*Systagenix Wound Management signed a new lease for 8,423 s/f of office space on the third floor. The location is the company's U.S. headquarters. Systagenix was represented in the transaction by Jones Lang LaSalle.
Quincy Office Investors recently made significant enhancements to the six-story, 118,325 s/f office building. On the outside, the granite façade was completely renovated, landscaping was upgraded and the lighting was improved, providing a new look for the building.
Inside the building, common areas were updated, including new paint and carpeting as well as refinished millwork. The elevator cabs were fully renovated and a new café was opened to service the building tenants and guests. Behind the scenes, new high-efficiency boilers and air handlers - along with a recent cooling tower replacement - have improved the comfort, reliability, and efficiency of the building's HVAC system.
A new access ramp to the building was opened for use in late 2009. Part of broader construction in the area being done by the state of Mass. to help reduce traffic, the new ramp at Crown Colony has greatly increased the convenience and accessibility of the building and significantly reduced congestion during rush hour. Additionally, shuttle service is provided between the building and from the nearby Quincy Adams MBTA station.
"400 Crown Colony's amenities, ease of highway access and proximity to downtown Boston have always made the building one of the top options in the area," said Zilora. "We witnessed a sharp increase in the level of interest after the renovations were complete and the new access ramp was opened, and are very pleased to have attracted these industry-leading new tenants to the building. We are appreciative of RBJ&P's work on our behalf and also of the efforts of Grubb & Ellis, CresaPartners, and Jones Lang LaSalle and others in helping connect the 400 Crown Colony space solutions to their clients."

Route 128 South Office Market
According to research by RBJ&P, the Route 128 South submarket consists of 11,965,000 square feet of office space and was 18.4% vacant, as of the quarter ended September 30, 2010. [source: Richards Barry Joyce & Partners' "officeSTATus - Fall 2010"]

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit their website at www.rbjrealestate.com
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