This lease represents a relocation and expansion of LeMaitre's corporate headquarters. The privately held medical device company also has facilities in Germany, France and Florida.
The deal is good news in a market that has been hit particularly hard by the downturn in the area's office market, largely due its dependence on high tech companies. According to Trammell Crow Co.'s third quarter statistics, Burlington's overall availability rate was at 41.6%, up slightly from 40.3% this past January but up significantly from 29.4% in January 2002.
Lease rates for this deal were not available, but the area's asking rent for office space is at $23 per sf according to Trammel Crow Co.
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