"I think they will do well with it," says Hughes Property Corp.president Scott R. Hughes, a veteran real estate broker familiarwith the project. "It's a good location and [Conroy] does goodwork. If they can get it in the ground by spring, and as long asthey price it competitively, they should see a lot ofinterest."

Calls to Conroy founder Terry Conroy Sr. were not returned bypress deadline, but the firm has told state officials that it hopesto begin work on the $8-million project later this fall. Thecompany anticipates an opening sometime next summer, if successful.The building would reportedly feature about 30% office space, whilethe remainder would be a mix of light manufacturing and assemblyspace.

According to Hughes, the availability of modern flex space isbecoming increasingly rare, with many office users taking over suchbuildings due to a lack of supply in that sector. TraditionalR&D markets are being stretched ever outward, with Route 495among the areas that are benefiting from the migration. Sources saythat Conroy has several potential users, but is willing to developthe building on a speculative basis if no takers step forward priorto the ground-breaking. The firm must also first win localapprovals.