"The Dedham Executive Center is a great building in a greatlocation that offers terrific exposure for our tenants," saysRobert Macnamara, COO for KS Partners. Macnamara says a $2 millionupgrade of the facility has helped reposition the property and madeit attractive to the newest occupants, adding that the firm isnegotiating on a number of fresh deals and renewals that he expectsto be finalized in the coming weeks.

|

The largest of the recent slew of lease agreements is HilcoAppraisal Co.'s commitment for 9,000 sf. Countrywide Bank securedjust over 8,000 sf, GE Capital is leasing slightly less than thatin a renewal and Dedham Opthalmic Consultants & Surgeons PC istaking 6,000 sf. Corporate Incentive Solutions is leasing 5,000 sf,while other firms joining the tenant roster are NCH Corp. andBoston Medtech Advisors. Also, James Bonaccorsi LLC renewed hislease at the property at 980/990 Washington St.

|

The renovations to Dedham Executive Center include a new roof,elevator upgrades and installation of modern mechanical systems. KSPartners is also providing a fitness center and is restoring theproperty's cafeteria and signage. Besides the capital improvements,KS Partners VP of leasing James Grady maintains the firm was ableto secure a majority of the companies who were seeking spacebecause of flexibility and response to tenant needs. Assisting theKS leasing professionals in the Dedham Executive Centernegotiations was the Meredith & Grew team of James Elcock,David Goodhue and William Lynch.

|

The leases are a continuation of a brisk year for the Route 128office belt and the suburbs overall, with a 2007 review issuedtoday by DTZ FHO Partners showing the north, central and southerntiers of Route 128 registered positive absorption, while thesuburbs as a whole exceeded 2.5 million sf of net absorption forthe year. That performance puts the suburban office market vacancyrate at 16.7%.

|

While far less than the remarkable 1.5 million sf of positiveabsorption registered in Route 128 Central, the southern stretchthat includes such communities as Canton, Dedham, Norwood andWestwood had just under 200,000 sf of positive absorption for theyear, says the DTZ FHO research. The review covers 153 buildingsand 14.1 million sf of space in the southern sector, which is closeto the suburban average vacancy rate, coming in at 16.8%.

|

KS Partners is a commercial real estate owner and propertymanagement company that targets undervalued assets and seeks toimprove cash flow through a value-added approach. The ownership hasbeen investing in Greater Boston for a decade, with currentMassachusetts holdings stretching from Andover to Quincy.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.