National Development has completed a long term lease totaling 490,119 s/f in Littleton Corporate Center at 550 King St. The property is located at the intersection of I-495 and Rte. 119 and was previously occupied by Digital Equipment Corp. and Hewlett Packard.
Cushman & Wakefield's senior directors Torin Taylor and Rich Ruggiero represented the landlord, a joint venture between National Development and New York-based Angelo Gordon. The tenant, IBM, was represented by Flory McCarthy and Matt Dwyer of Jones Lang LaSalle.
"When our venture acquired this property in 2006, we felt it was well positioned to attract a large corporate user to Littleton Corporate Center," said John O'Neil, National Development's Managing Partner. "The Town of Littleton, in conjunction with the Governor Patrick's office, has been extremely proactive in helping us to attract IBM to this property."
IBM has announced plans to house most of its 5,000 Mass. employees at its new campus in Littleton. Until the IBM lease was signed, Littleton Corporate Center was one of the only large blocks of space available in the 495 North marketplaces. The 39 acre, three story Class A office facility, consists of two buildings completed in 1984 and 1987. Current plans for the property include significant upgrades to the facility and increases in parking.