Olson and Levendusky of CB Richard Ellis arrange three leases totaling 16,639 s/f

December 16, 2009 - Front Section

25 Corporate Drive - Burlington, MA

CB Richard Ellis/New England arranged three new leases totaling 16,639 s/f at Burlington Centre, a 500,000 s/f master-planned office park.
The firm facilitated a new 4,271 s/f lease with Proteus Technologies at 35 Corporate Dr.; a new 4,592 s/f lease with International Mailing Systems at 25 Corporate Dr.; and a new 7,776 s/f lease with Awareness, Inc. also at 25 Corporate Dr.
The CBRE team of Kerry Olson, vice president, and Jason Levendusky, first vice president, represented ownership Multi-Employer Property Trust in all three transactions. The team also represented International Mailing Systems in its lease at 25 Corporate Dr. Proteus Technologies, a software and systems engineering solutions provider, was represented by Rory Walsh, associate at Cushman & Wakefield while social media marketing firm Awareness, Inc. was represented by Mike Shreve, senior vice president, and Greg Hoffmeister, managing director, of T3 Realty Advisors.

25 Corporate Dr,, a 125,000 s/f class A, four-story office building.

35 Corporate Dr, is a 120,000 s/f class A office space. Built in 1999, the building offers ample parking.
Kennedy Associates, a full-service real estate investment advisor, acts as the exclusive advisor for the property.
Burlington Centre is situated on 78 acres adjacent to Rte. 3A, just 15 miles northwest of Boston. The centre recently selected new operator Unidine as its exclusive food service provider.
According to research by CB Richard Ellis, the Route 128 North Office Market comprises approximately 17.5 million square feet. At the close of the third quarter 2009, the market posted a 25.6% availability rate, a 21.5% vacancy rate and a 2.0% sublease rate.
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