Jack Kerrigan, senior vice president, Hank Amabile, senior vice president and Steve Cook, vice president, all with Grubb & Ellis represented Thermo Electron in the transaction. Milford Fenwal Realty LLC, the lessor, represented itself.
The company says the new facility consolidates the operations of four former sites. As a result of this consolidation of this part of Thermo Electron's Life and Laboratory Sciences business, the company is putting its property at 300 Second Ave. in Needham on the market. The site, being marketed by Grubb & Ellis, consists of 119,500 sf of flex space.
Lease rates for this deal were not available but the average asking rent for similar space in the area is about $19 per sf.
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