Richards Barry Joyce & Partners, LLC (RBJ&P) advised Coldwell Banker Residential Brokerage New England and its affiliated companies NE Moves Mortgage, LLC and NRT Insurance Agency, Inc. for a new 54,034 s/f lease at 52 Second Ave.
The companies will occupy the entire third floor of 52 Second Ave. The companies are moving from 1601 Trapelo Rd., making this one of the largest relocations in the Rte. 128 west submarket this year.
"We are very excited to move our headquarters to this new location," said Rick Loughlin, president of Coldwell Banker Residential Brokerage New England. "The modern space has allowed us to expand our sales associate training facilities and include state-of-the-art amenities for our marketing, relocation and information technology teams. Overall this new space will enable our sales management, operations teams, and our mortgage and insurance partners to work side-by-side, which wasn't possible in the previous location."
The RBJ&P team of Jon Varholak, partner, and Ron Friedman, senior vice president, represented the tenants in the lease. The sub-landlord of the space is National Grid, which was represented by Jones Lang LaSalle.
"Richards Barry Joyce & Partners provides in-depth real estate counsel for a wide range of companies, including those in high tech, professional services and finance," said Friedman.
"Our key is to focus on the company's business goals and determine how best to advance those through strategic and prudent real estate decisions. We are very fortunate to work with Coldwell Banker Residential Brokerage, NE Moves Mortgage, and NRT Insurance Agency, as they are top companies in their market."
Office Market Statistics - Route 128 West
According to research by RBJ&P, the Route 128 West submarket consists of 21,873,000 square feet of office space and was 19.0% vacant, as of the quarter ended March 31, 2010. [source: Richards Barry Joyce & Partners' "officeSTATus - Spring 2010"]
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage company in New England, with its affiliated companies, and joint ventures provide comprehensive homeownership services including residential real estate sales, mortgage brokerage, insurance brokerage, corporate relocation, and marketing of luxury properties. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation's largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy's company-owned real estate brokerage offices. For more information please visit www.NewEnglandMoves.com.
About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com.