On behalf of Meritage Properties LLC, CB Richard Ellis - N.E. Partners, LP has facilitated a new lease at 138 River Rd. Keller Williams Realty, the second-largest residential real estate company in the United States, will occupy 3,204 s/f at the property immediately. This deal brings the property to 97% occupancy in a market with 25% vacancy.
As exclusive leasing agent for the asset, CB Richard Ellis - N.E. partners LP's Kerry Olson Hawkins, first vice president, and Robert LeClair, associate, represented the landlord. The tenant was self-represented.
"We are pleased to accommodate Keller Williams Realty at 138 River Road," said Hawkins. "The building's boutique charm, its location directly off Interstate 93, and its ability to cater so well to smaller tenants make it a unique building within the Interstate 495 North market."
138 River Rd. is a 62,806 s/f class A office building. The property is adjacent to I-93, three miles from I-495 and 30 minutes north of downtown Boston and Logan International Airport. Built in 1984, the building offers access to numerous nearby amenities including a full-service Marriott Courtyard Hotel and Wyndham Hotel and a variety of eateries.
CB Richard Ellis - N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2011 revenue). The company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.