Westwood, MA Fairlane Properties, Inc. has completed the long-term lease to Beth Israel Deaconess Medical Center, Inc. (BIDMC) of 119,591 s/f at 80 Wilson Way.
Executive managing director Michael Frisoli and senior managing director Tyler McGrail of Newmark Knight Frank (NKF) represented Fairlane Properties in the exclusive marketing of 80 Wilson Way and the lease negotiations with BIDMC. Vice chair James Elcock, executive vice president/partner Kristin Blount, and senior vice president Bill Lynch of Colliers International represented BIDMC in the property search and lease negotiations.
“80 Wilson Way will provide BIDMC with ideal access to its hospital and patient network while providing its employees with access to public transportation and the substantial retail opportunities that surround the building,” said Michael Grill, president of Fairlane Properties.
An affiliate of Fairlane Properties purchased the fully-air conditioned property in June 2010 with a long-term lease to KLA-Tencor in place until 2018. 80 Wilson Way sits on a 10 acre wooded parcel off of Rte. 1, one mile from Rte. 128/I-95. With over 5 million s/f of retail nearby at University Station and Legacy Place, the property will also have direct access to the MBTA Green, Orange and Red Lines in downtown Boston via the MBTA Commuter Rail Franklin Line at Islington Station.
“We are thrilled to have represented Fairlane Properties in this significant lease transaction at 80 Wilson Way,” said McGrail. “The building offers Beth Israel Deaconess Medical Center close proximity to Rte. 128 and a unique combination of office, R&D, lab, production, medical, pharmacy and warehouse space under one roof with all uses permitted under existing zoning.”
Preparing 80 Wilson Way in anticipation of a new tenant such as BIDMC, Fairlane constructed a new glass and metal panel front façade entry, added 3000 amps to bring the building to its current 5000 amp service, and received town approvals for a 450 foot long sidewalk from the property’s parking lot through the property’s wooded parcel to East St., a short distance to the Islington MBTA Station and the new shops in Islington Village. This spring, Fairlane will be constructing the sidewalk with a security and video camera system.