Norwood, MA Transwestern | RBJ represented Hilco Real Estate LLC in an 11,535 s/f lease with SmartSource Rentals at 575 University Ave. Senior vice president Rob Byrne and vice president Chris Mullen represented the owner of the single-story, 88,379 s/f flex building.
575 University Avenue - Norwood, MA“This property’s location offers SmartSource easy access to major regional thoroughfare Rte. 128, as well as the Amtrak and MBTA Rt.e 128 station, and it’s in close proximity to the amenity-rich University Station and Legacy Place developments,” said Byrne. “SmartSource is an industry leader in the computer and audio visual rental space and Hilco’s determination to prepare the space in an expedited timeframe reflects SmartSource’s desirability as a tenant.”
SmartSource Rentals, a provider of computer, audio visual and technology solutions for businesses and events, will be relocating from Southwest Park in Westwood. The company was represented in the lease by Peter Whoriskey of Newmark Grubb Knight Frank.
According to research by Transwestern | RBJ, the Route 128 South submarket consisted of 3.8 million s/f of flex space with 8.9% vacancy at the close of first-quarter 2016 (Transwestern | RBJ “indSTATus – Q1 2016”).
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in agency leasing, management, tenant advisory, capital markets, research and sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate.
Hilco Real Estate is a trusted advisor and principal investor in commercial real estate transactions, providing a single integrated solution to maximize the value of value-add, opportunistic and obsolete real estate properties. By leveraging the integrated network and unique capabilities of the Hilco Global holding company, Hilco Real Estate tailors its approach to each project to efficiently redevelop or reposition complex real estate assets and liabilities. Hilco Real Estate is part of Northbrook, IL based Hilco Global (www.hilcoglobal.com), the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.
