Brian Hines and Mark Mulvey of Trammell Crow Co. represented Sensormatic Electronics in the transaction while Trammell Crow's John Boyle and Keith Gurtler negotiated on behalf of property owner, Lend Lease Real Estate Investments.
Gurtler tells GlobeSt.com that Sensormatic, which develops and supports electronic article surveillance, considered all its options in the market before it decided to renew its lease at this location. "They went out, they toured the market and then they did the deal," he says. Gurtler declined to reveal the lease rate but he notes that average lease rate for this space in the area is about $25 per sf.
Kiln Brook Office Park is a five-building office park totaling 355,700 sf of rentable space. The property is located near Route 128 and 11 miles from downtown Boston.
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