Newmark Knight Frank recently completed multiple transactions at 267 Boston Rd. The three lease extensions, and one lease extension and expansion speak to the success of the leasing program at the two building, 97,000 s/f industrial flex project, which has benefitted from extensive capital renovations. The property is owned by an affiliate of Alex Brown Realty, Inc. and Hall Royce, LLC. Organized in 1972, Alex Brown Realty is a privately owned real estate investment manager headquartered in Baltimore, Md. Hall Royce is an owner/operator of industrial, R&D and office properties throughout Mass.
Newmark Knight Frank principal Jim Thomson and associate Devon Manfredonia represented building owners Alex Brown Realty, Inc. and Hall Royce, LLC in all four transactions at 267 Boston Rd.
SI2 Technologies, Inc., a conformal and flexible electronic systems company, renewed and expanded its lease at 267 Boston Rd., securing 15,100 s/f of space. This space will serve as SI2 Technologies' headquarters. Alan Ringuette of The Stubblebine Co. represented SI2 Technologies in this transaction. "The efficiency of the single story building works very well for SI2's needs of combining office space with manufacturing space. We were glad to be able to help this company grow and we thank Alan Ringuette of The Stubblebine Co. for making this a very smooth transaction," said Thomson.
M.S. Inserts and Fasteners Corp., a distributor of Aerospace and electronic fasteners, renewed its space consisting of 4,500 s/f at 267 Boston Rd. This space serves as the East Coast hub for MS Fasteners.
New England Rehabilitation Hospital also extended its lease of 3,600 s/f. The facility at 267 Boston Rd. provides outpatient rehabilitation services for the hospital.
The final deal was negotiated with Lahey Clinic, Inc. to expand and extend its 8,100 s/f lease. Lahey Clinic is a community based primary care facility, featuring specialties in cardiology, gastroenterology and internal medicine.
"We were thrilled to be able to renew all three of these tenants in the building. Lahey Clinic and New England Rehabilitation Hospital staying in the building allows the owners to continue to have a strong medical presence within the property," said Jim Thomson.
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 200 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $32 billion with annual revenues of over $811 million. With a combined staff of over 6,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.