Colliers facilitates 37,262 s/f lease at 79-85 Astor Ave. in Norwood to Nano-C

Norwood, MA Colliers has facilitated a new 37,262 s/f lease at 79-85 Astor Ave., a manufacturing/flex building. Colliers represented both the landlord, Kadima Industrial Partners and DRA Advisors, and the tenant, Nano-C, in the transaction. Colliers executive vice president Ovar Osvold and vice president Sean Hannigan represented the landlord, while executive vice presidents Kevin Brawley and Steve Woelfel and vice president John Real represented Nano-C.

The newly-leased space will support Nano-C’s growth as a developer and manufacturer of electronic materials and specialty chemicals used across industries including solar, semiconductors and energy storage. Through the transaction, Nano-C more than doubled its footprint, securing a long-term lease off Rte. 1.

Kadima Industrial Partners and DRA Advisors acquired 79-85 Astor Ave. and completed targeted improvements, including a new roof, exterior paint and LED lighting, to reposition the property. The Colliers landlord team actively marketed the 60,204 s/f building to users seeking adaptable manufacturing and flex space, helping ownership achieve its business plan within six months of acquisition.

The lease reflects strong demand for flex/manufacturing space throughout Greater Boston. In the Rte. 128 South submarket specifically, flex rents rose roughly 4% year over year while vacancy fell in Q3, according to Colliers research. With its location, infrastructure and committed ownership team, 79-85 Astor Ave. is well positioned to meet the needs of companies in the region.

Colliers continues to market the remaining 22,942 s/f, which includes one drive-in and four loading docks, in a fully air-conditioned building with 22-foot clear heights and ample power capabilities.

“Nano-C had a clear vision for its next phase and needed a space that could support its specialized work,” said Brawley. “Kadima and DRA were great partners in making that happen. The combination of infrastructure, value and location made 79-85 Astor the right fit.”