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.


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.


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%.


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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