They are located at 111, 140 and 150-170 Locke Dr. in the I-495 West submarket. According to Richard Bradbury, VP in the Boston office of Richards Barry Joyce & Partners, they include a mix of office, R&D and flex space, and the portfolio is currently more than 90% leased.
Among the tenants are Sepracor Inc., Motorola, Allied Printing, Xcellerex and Fons Corp., which is a part of ADC. Bradbury tells GlobeSt.com that rates vary widely, depending on particular types of space, but says the range is between $6.50 per sf and $10 per sf. "So far in 2006, this submarket is showing especially high levels of both sale and leasing activity." According to data compiled by his office, the submarket had a 21.1% vacancy at the end of 2005 and has experienced positive absorption for seven of the past eight quarters.
Bradbury along with Richard Herlihy, Michael Frisoli, Paul Leone and John Lashar, a partner in the firm, represented the seller in the transaction and also procured the buyer. The seller is First, Second, Third Marlborough Development Trust.
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