Performance Motion Devices, Inc. has lease 13,258 s/f and will move its headquarters to 80 Central St., a class A office building 30 miles northwest of Boston. KBS Realty Advisors acquired the 149,528 s/f building in the 495/North submarket in 2006.
Connor Barnes and Michael O'Leary from Boston-based FHO Partners represented Performance Motion Devices in the transaction while Brian McKenzie, John Wilson and Jamey Lipscomb from Richards Barry Joyce & Partners in Boston represented KBS.
Performance Motion Devices, Inc. is expanding its business and moving its operation from Old Bedford Rd, in Lincoln, Mass., to 80 Central St., nearly doubling its space commitment.
80 Central St. is located along Rte. 495 north, offering easy access to I-128 and the considerable executive housing in the area. Constructed in 1988, the three-story building was renovated in 1999 and features an onsite 125-seat cafeteria, fitness room, and locker and shower facilities.
Other 80 Central St. tenants include Crossbeam Systems, Axis Semiconductor, Diversified Management, PHAST Data, Lightower Fiber Networks, Egenera Cleanwise and Applied Materials.
"Despite the economy, 80 Central Street continues to perform above the market, thanks to its location, attractive amenities and quality tenant roll," said Charles Valentino, KBS senior vice president and asset manager. "It is especially well suited for technology-oriented tenants like Performance Motion Devices that account for the majority of demand in this market."
A major property owner in the area, KBS-affiliated companies own a total of 17 properties in the greater Boston market, including the Class A 625 Mount Auburn Street property in Cambridge and the recently renovated 825 University Avenue building in Norwood.
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS-affiliated companies have completed transactional activity of approximately $20 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs.
Performance Motion Devices
Performance Motion Devices, Inc (PMD) provides OEMs worldwide with innovative, high performance chip, card, and drive-based motion control solutions. PMD products are used to control brush, brushless and stepping motors in the medical, commercial and industrial markets. PMD has the motion control expertise to simplify customer's designs, reduce risks, and lower overall costs.