Thomas Aitken, vice president at NAI Hunneman, represented the property owner, Walford Company LLC, in the transaction, while Charles Detwiller of Neelon Associates Inc. represented Mettler Toledo/Thornton.The deal reportedly represents a consolidation of space for Mettler Toledo/Thornton. The company chose this space, after what it calls an "exhaustive search" because the shell condition of the building enabled it to design the space to meet its real estate requirements.
The property is close to Routes 3 and 95.The deal is significant in this market which is still struggling with overall vacancy rates in its research and development sector in the 30% range. Lease rates for this deal were not available, but average asking rents for research and development space in Bedford is about $12 per sf.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
