Micah Stubblebine of the Stubblebine Co. represented Dynamiocs in the transaction while Marie Imbres and Douglas Wynyard of the Nordblom Co. represented the property owner. The deal is a relocation of the Bedford, MA offices for the Andover, MA-based company. The space will be used for the company's technical services group.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $18 per sf. Vacancy rates for the area according to Grubb & Ellis' most recent statistics are at 25%, down slightly from the previous quarter indicating positive net absorption for the quarter of 234,000 sf.
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