Curtis Cole and Charles Kavoogian of CB Richard Ellis/Whittier Partners represented property owner, Alexandria Real Estate Equities, in both transactions. Jonathan Varholak of Richard Barry Joyce & Partners represented Protein Forest, a life science tools company, and Mike Brown of Trammell Crow Co. represented Envivo, a biopharmaceuticals firm.
Built in 2003, the 140,000-sf building is near the Massachusetts Turnpike and is seven miles from Downtown Boston. Lease rates for this deal were not available but the average asking rent for similar space in the area is about $10 per sf.
The area is still struggling to fill its research and development space as it continues to post negative absorption rates and an availability rate of nearly 21% according to Spaulding & Slye Colliers's most recent statistics.
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