NORWOOD, MA-A semiconductor testing firm has terminated its lease on 167,500 sf of space in a Westwood building. The firm will move its world headquarters into 56,000 sf in a nearby property with the same ownership. LTX Corp. is currently located at 50 Rosemont Rd., which is among several buildings that will be redeveloped into a $1.5-billion, 4.5-million-sf mixed-use complex later this year.
The leasing arrangement will also keep at 825 University Ave. here fully occupied, Cal Hudak of Richards Barry Joyce & Partners tells GlobeSt.com. "The location worked well for them so they wanted to stay in the same area." He says the move is set to occur early in the third quarter once renovations to the Norwood property are complete.
Terms of the 10-year lease were not disclosed, but Hudak says property in the area generally leases in the mid-teens per sf. Hudak and colleagues Michael Frisoli represented the tenant, while Lincoln Property Co. represented Cabot, Cabot & Forbes, the owner of both properties. A call to LTX was not returned by deadline.
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