"It is not often that you get an A-credit tenant in this type of market, and when you do, you pursue them aggressively," says Walles.
Through a partnership with JP Morgan Partners, Berkeley owns both 115 and 117 Flanders Rd. The buildings, which consists of office and research and development space, total approximately 115,000 sf and are located less than one mile from the intersection of Routes 9 and 495, one exit north of the Massachusetts Turnpike. They are about 80% occupied with approximately 28,000 sf available.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $19 per sf. Research and development space goes for nearly $10 per sf.
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