Hobbs Brook Management negotiated five lease totaling 55,289 s/f

Wakefield, MA Hobbs Brook Management LLC (HBM) has negotiated five leases for 55,289 s/f in its office parks in Wakefield and Johnston, R.I.

New Tenants:

• American Arbitration Association signed a new 11-year, 6-month lease for 11,371 s/f at 1301 Atwood in Johnston. American Arbitration was represented by Chris Krauss of JLL. Pete Hayes and Matt Fair of Hayes & Sherry Real Estate Services, a Cushman & Wakefield Alliance member, represented HBM. The lease will commence on June 1.

• PalliaTech signed a new three-year lease for 2,672 s/f at 301 Edgewater in Wakefield. PalliaTech was represented by Rob Cronin from Lincoln Property Co. and Bob Borgman of Wyman Street Advisors was the broker for HBM. The lease was effective on October 1, 2016.

• Worldwide Logistics signed a new 5-year lease for 1,529 s/f at 301 Edgewater, beginning on January 1. Borgman represented both Worldwide Logistics and HBM.

Lease Renewals/Extensions:

• HCC Specialty Underwriters, Inc. extended its 34,139 s/f lease at 401 Edgewater in Wakefield, for seven years and three months. The renewal, effective March 1, was brokered by Don King of Jones Lang LaSalle in Houston, Texas, and Chip Batchelder of Wyman Street Advisors.

• Mutual Fire Insurance Association of New England has extended its 5,578 s/f lease at 500 Edgewater for an additional seven years. Tim Brodigan of Colliers represented Mutual Fire and Borgman represented HBM.

“Our tenants can expect not only sustainable, high-quality office environments, but the exceptional customer service that has made HBM a pioneer in the development of premier office space since 1952. We value our tenants and have built a legacy upon our trusted relationships with them,” said Patricia Holland, real estate manager in Hobbs Brook’s leasing division. “We are thrilled to start our year by adding three new tenants, and continuing our relationship with two existing tenants. As we enter our 65th anniversary year, all of us at Hobbs Brook Management are grateful for the successful, long-lasting relationships that we have built, and for the opportunity to create more trusted relationships as we continue to grow our portfolio."

Because the most valuable thing they develop is a relationship, Hobbs Brook Management focuses its efforts on satisfying the individual needs of customers that lease within their parks. A service-oriented provider of class A business solutions to companies large and small, Hobbs Brook builds sustainably, maintains an on-site facilities management staff, and develops or renovates projects for energy efficiency, LEED certification, and the preservation of the local environment. With portfolios in Massachusetts, Rhode Island, Georgia and Illinois, Hobbs Brook offers competitive amenities, on-site catering and dining facilities, fitness centers, and a full-service conference center available to tenants and the public. Hobbs Brook enjoys a steady occupancy rate in the 90th percentile, and holds firm to the belief that tenants should feel secure, well-balanced and prevalent at work.