Phil Giunta, EVP and partner, and George Nugent, SVP and partner with locally based CB Richard Ellis/New England Partners, represented Dynamic Research and procured the buyer. Dynamic Research, which provides technology services to government entities from offices nationwide, has been headquartered in this building for a number of years, according to Nugent, who says, "the transaction was mutually beneficial."
The new lease at 60 Frontage Rd is for 10 years, Nugent tells GlobeSt.com. "Published rental rates in this area are variable and can be misleading," he says, "because of the many R&D facilities here. The asking rate for office space in the area is between $10 per sf and $12 per sf, net, and this building is probably at the upper end of the spectrum, because it's a class A corporate headquarters."
The three-story property is located on a little more than 17 acres and has direct access to Route 93. It was built in 1986 and has recently undergone a total renovation.
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