Originally constructed as a build-to-suit for FidelityInvestments, 26 Forest St.'s high level of technologyinfrastructure was a key element in Netezza's selection, accordingto the tenant's broker, Kevin Hanna of Cushman & Wakefield. Aglobal leader in analytic appliances, Netezza will use the buildingfor its regional operations under the long-term agreement. Theparties involved did not divulge lease terms for thetransaction.

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The landlord at 26 Forest St. is Great Point Investors, aBoston-based real estate investment firm that acquired twobuildings in the Lake Williams Corporate Center for $33 million in2002. Great Point bought the assets from National Development ofNewton, the original developer, and from Taurus Investments.Richards Barry Joyce & Partners broker John Lashar headed upthe team representing Great Point in the Netezza leasenegotiations, an effort aided by colleagues Paul Leone and BrianMcKenzie.

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After several difficult years, the Interstate 495 West submarketthat includes Marlborough had a solid 2007, according to resultsprovided by Cushman & Wakefield. The submarket of 5.4 millionsf had 234,000 sf of positive net absorption last year, reportsC&W, helping drop the vacancy rate to 15.9%. That is stillsecond highest among seven submarkets in the survey, with theoverall suburban average at 11.4%.

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Industry observers have reported increased activity in thesecond half of 2007 in I-495 West, fueled partly by an increasingpricing gap between Route 128 and the I-495 belt. According toC&W, the average direct rental rate in I-495 West is $19.41 persf, well below the $32.81 per sf average in the core Route 128Central submarket anchored by Waltham.

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