Avison Young has leased 28,000 s/f of office space at 46 Jonspin Rd. on behalf of landlord Spinelli Commercial Properties to L-3 Communications Holdings, Inc. (L-3).
Avison Young principal Jack Kerrigan and associate Colin Whitney represented Spinelli. Cushman & Wakefield represented L-3 in the transaction.
L-3 Communications will begin a new lease at the location, adding to the aerospace systems contractor's current tenancies at 17 and 53-65 Jonspin Rd. in the North Wilmington Business Park.
"With a strategic suburban location and hands-on ownership, North Wilmington Business Park is an ideal corporate setting for L-3 Communications as the firm continues to expand," said Kerrigan. "Rachele DePamphilis, CEO of Spinelli Commercial Properties, was instrumental in driving this deal to a successful and timely close."
"We are pleased to continue our long-term relationship with L-3 Communications, which now occupies more than 107,000 sf of office and R&D space in North Wilmington Business Park," said DePamphilis.
L-3's new premises comprise 21,000 s/f on the first floor and 7,000 s/f of mezzanine space, bringing the firm's total occupancy at North Wilmington Business Park to 107,485 s/f. The building provides easy access to I-93 and Rte. 125 and is six miles from both I-495 and I-95.
Tenants have access to many amenities less than three miles from the park, including multiple health clubs, major shops, diverse restaurants and the Tewksbury Country Club.
L-3 Communications is a prime contractor in aerospace systems and national security solutions. In addition to providing superior performance to the U.S. Government as a top 10 defense contractor, the company offers a broad range of communication and electronic systems/products used on military and commercial platforms. With reported sales of $12.6 billion in 2013 and nearly 48,000 employees, L-3 Communications has established itself as one of the most prominent U.S. defense contractors.
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,600 real estate professionals in 60 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multifamily properties.