Richards Barry Joyce & Partners, LLC (RBJ&P) brokered four leases totaling 35,940 s/f at 187 Ballardvale St. for the building's owners, AEW Capital Management, L.P. and Griffith Properties. AEW owns the property on behalf of AEW Value Investors, L.P., a value-added real estate fund.
The tenants are AppliedMicro, Fluke Corporation, OuterLink Global Solutions and Sleep HealthCenters.
187 Ballardvale St. is a two-story office building totaling 105,000 s/f and is part of the 550,000 s/f Ballardvale Office Park.
"These leases demonstrate the level of interest in the market for Ballardvale Office Park," said James Lipscomb, senior vice president, RBJ&P. "The recent renovations to the park, as well as its location and visibility, make it one of the region's top choices for businesses from a wide range of industries, as is seen with these four excellent tenants."
Brian McKenzie and Lipscomb of RBJ&P represented the owners in the transactions. The firm is the exclusive leasing agent for Ballardvale Office Park.
Details of the four leases include:
Applied Micro Circuits Corporation or AppliedMicro, a global leader in energy conscious computing solutions for telco, enterprise, data center, consumer and SMB applications, renewed a lease for 14,800 s/f on the second floor of the building. AppliedMicro was represented in the lease by John Wilson of RBJ&P.
Fluke Corp. renewed a lease for 5,502 s/f on the 2nd floor. Fluke, the world leader in the manufacture, distribution and service of electronic test tools, biomedical equipment and networking solutions, was represented by Rory Walsh of Cushman & Wakefield.
OuterLink Global Solutions signed a new lease for 4,358 s/f on the 2nd floor. The tenant relocated from Lowell and was represented by Brian Tisbert and Chris Lawrence of Colliers International. Outerlink Global Solutions' core mission is to connect the world's mobile and fixed assets through a platform of unified communication networks.
Sleep HealthCenters, a network of specialized sleep medicine centers and clinics that provide all the required services needed to diagnose, treat, and support patients with sleep disorders, signed a new lease for 11,280 s/f on the building's 2nd floor. Sleep HealthCenters was represented by Rob Nahigian of Auburndale Realty Co.
According to research by RBJ&P, the Route 128 North submarket consists of 25,757,000 square feet of office space and was 19.5% vacant, as of the quarter ended June 30, 2011. [source: Richards Barry Joyce & Partners' "officeSTATus - Summer 2011"]
About Ballardvale Office Park
Ballardvale Office Park is comprised of 555,000 s/f of office space with premier frontage along I-93 in Wilmington. The buildings have each undergone significant renovations, which selectively include new building exteriors, larger windows, state-of-the-art HVAC systems, new roofs and new landscaping, as well as improvements to common lobbies and fitness areas.
The campus is located at the intersection of I-93 and Rte. 125, providing excellent access to Rte. 128/95, I-495 and Rte. 3. The campus is less than 20 minutes from downtown Boston and Logan International Airport. A new on-ramp adjacent to the property makes highway access very convenient.
Onsite amenities include a full-service cafeteria in Building One, with a large seating area, flat screen television monitor, and free WiFi access, a new fitness center with state-of-the-art equipment and locker room facilities, and banking facilities within the park.