Marlborough, MA Colliers International represented Canvys, a Division of Richardson Electronics, Ltd., in connection with a lease renewal for 40,650 s/f at 753 Forest St. The Colliers team was led by Kevin Brawley and Stephen Woelfel Jr.
The transaction locks up the entire space at the 1986-built 75,000 s/f structure, which has been owned by Deutsche Asset and Wealth Management since 2005. John Lashar of Transwestern RBJ represented Deutsche in the lease.
“Canvys’ has a deep commitment to maintaining a strong presence in Marlborough, and Deutsche’s continued track record of superior responsiveness in the area is unwavering,” said Woelfel, “Canvys is able to offer its people stability along with very appealing amenities, alongside the growing complement of eating and shopping alternatives available in the immediate vicinity.” The amenity-rich location has attracted other tenants, including Boston Scientific, GE Healthcare and Quest Diagnostics, each of whom recently made large commitments to Marlborough.
753 Forest Street - Marlborough, MAMarlborough is a key segment of the 14.2 million s/f “Boroughs” submarket, as tracked by Colliers. The Boroughs submarket has enjoyed 687,000 s/f of positive absorption in the four-quarter period ended September 30, 2015, as vacancy dipped from 24.2% to 19.4%.
Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high value displays, flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure.
Colliers International Group Inc. is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.