Since taking over control of the asset at 30 Temple St. lastyear, Aegean Capital has undertaken an extensive capitalimprovements program, reports Costa Alexakos, president of the realestate investment firm. The effort included upgrades to theexterior and landscaping, as well as an overhaul of the interiorsand building common areas. "Our plan when acquiring this propertywas to restore it to its initial glory," says Alexakos, adding hebelieves Indian Head Plaza "is once again Nashua's premieredowntown business address."

Other pluses that have been able to lure and retain tenantsinclude a number of nearby restaurants and retail options, saysAlexakos, and proximity to such operations as the Nashua DistrictCourt, Hillsboro County Superior Court, the Hillsboro CountyRegistry of Deeds and two medical facilities, St. Joseph's Hospitaland the Southern New Hampshire Medical Center. Those entities areattractive to legal and medical-related tenants. Technology tenantsbenefit from a solid infrastructure in the building, he relays,with three fiber-optics systems giving an extra level of redundantcapability.

Terms of the lease renewal with Progress Software were notrevealed. According to one document, space in the 24-year-oldbuilding is being offered at prices between $16.50 and $17 per sf,near the top of the market. Aegean Capital was represented in leasenegotiations on the Progress pact by Thomas Farrelly of Cushman& Wakefield. Wayne Spiegel of NAI Hunneman Commercial Co. actedon behalf of the tenant.