
June 30, 2010 -
Front Section
According to CB Richard Ellis/New England, it has facilitated two lease renewals totaling 17,600 s/f at Burlington Centre, a 600,000 s/f master-planned office park. The firm has arranged an 8,919 s/f renewal with Circor International—a manufacturer of fluid-control valves and accessories—on the first floor of 25 Corporate Dr. and an 8,316 s/f renewal and expansion with Modis—a leading provider of information technology staffing and recruitment solutions—on the second floor of 35 Corporate Dr. CB Richard Ellis represented the landlord, Multi-Employer Property Trust (MEPT), in both transactions.
"We're pleased to have retained two excellent tenants here at Burlington Centre," said James Crew of Kennedy Associates Real Estate Counsel, the advisor for the property. "We're fortunate to have both Circor and Modis continue their operations at our park and to be able to accommodate their growing business needs."
The CBRE team of Kerry Olson, vice president, and Jason Levendusky, first vice president, represented MEPT in both transactions. Circor International was represented by Jonathon Varholak and Ron Friedman of Richards Barry Joyce & Partners while Modis was self-represented.
Constructed in 1990, 25 Corporate Dr. features approximately 125,000 s/f of class A office space in addition to on-site property management, a full-service cafeteria, outdoor patio seating and an on-site fitness center. 35 Corporate Dr., built in 1999, features approximately 120,000 s/f of class A office space in addition to a two-story atrium lobby, granite flooring, African wood paneling and stainless steel fixtures. In addition to Modis, recent tenants renewing at 35 Corporate Dr. include Click Software (16,014 s/f), Lockheed Martin (14,500 s/f) and United Fuels (4,600 s/f). The property was LEED-EB Certified by the USGBC in May. Kennedy Associates Real Estate Counsel, a full-service real estate investment advisor, acts as the property's exclusive advisor.
Burlington Centre is located adjacent to Rte. 3A just 15 miles northwest of Boston. The park offers premier visibility from Interstate 95/Rte. 128, views of the Boston skyline and ample parking. Burlington Centre was also named the 2009 Suburban Low-Rise Office Park of the Year by the Building Owners and Managers Association, the industry's premier network of commercial property owners, developers and managers.
CB Richard Ellis Group, Inc., 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 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company for three years in a row.
CB Richard Ellis' New England practice has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting.
Please visit our Web site at www.cbre-ne.com.