Senior vice president Daniel Cordeau of Spaulding & Slye Colliers represented Azonix. Robert Morgan of the Gutierrez Co. negotiated on behalf of the company, which owns the single-story research and development building. Gutierrez is renovating the space to meet the changing needs of Azonix, which has occupied space in the building for the past 12 years.
"Azonix looked at some very good alternatives," says Cordeau. "The Gutierrez Co. was able to provide the right economic package and renovations to the facility to meet Azonix's needs." The facility is part of an eight-building master planned 550,000 sf office park near Route 3.
Lease rates for this deal were not available but the average asking rent for office space in the area is about $16 per sf. Manufacturing space goes for about $10 per sf.
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