Normandy Real Estate Partners completed three leases totaling 171,000 s/f at Lexington Corporate Center, located at 10 Maguire Rd. Transwestern | RBJ's Jon Varholak and Ron Friedman, partners, along with Chris Mullen, assistant vice president, and Perry Beal, associate, represented Normandy.
Details of the leases include:
* Imprivata Inc. signed a 93,000 s/f lease, that includes a 20,000 s/f expansion and a long-term extension. The tenant was represented by Roy Hirshland, CEO and co-founder of T3 Advisors.
* iBasis Inc. signed a new, long-term lease for 42,000 s/f. Jim Boudrot, executive vice president of NAI Hunneman, represented the tenant. iBasis was previously located in Burlington.
* MC10 Inc. signed a new, long-term lease for 36,000 s/f. Kevin Malloy, principal, and Dan Collins, senior vice president, of Avison Young represented the tenant. MC10 was previously based in Cambridge.
"With the excellent access this property offers to both residential and commercial destinations, Lexington Corporate Center is a unique property in the heart of the Rte. 128 office market, with exciting potential for growth and creative innovation," said Mark Roopenian, principal for Normandy. "We're excited to see these businesses thrive in this evolving campus space."
Transwestern | RBJ is the exclusive leasing agent for Lexington Corporate Center, a four-building park comprised of 285,000 s/f of class A office space. Featuring recently renovated lobbies and ample parking, the park offers an array of improved onsite amenities, including a full-service cafeteria and a fitness center with lockers and showers. Lexington Corporate Center is situated adjacent to wooded conservation land with picnic areas and walking, jogging and cross-country skiing trails, including access to the Minuteman Bikeway, an 11-mile bike trail that runs from Cambridge to Bedford. The nearby area is also amenity-rich, with a daycare facility, a health and fitness center, hotels, retail and many restaurants. The park offers easy access to Rte. 128 and the Mass. Pike.
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy's existing portfolio includes over 15 million s/f of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements.