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WAKEFIELD, MA-In what is being touted as the largest new office lease in suburban Boston this year, Epsilon is taking 100,000 sf at 601 Edgewater Dr. The 10-year lease is worth $23 million and includes expansion options for the company, which is a subsidiary of Dayton, OH-based Relizon.

The five-story, 160,000-sf building is located on 132 acres and abuts 1,400 acres of conservation land. The facility has a cafeteria, covered parking, onsite security and day care facilities.

Relizon’s national real estate advisors, CRESA Partners principals Craig Reinhart and Mike Cook of Portland, OR.; CRESA Partners Boston Project Management team of principal Jack Burns and senior project manager Sean Murphy; and Epsilon’s representative John J. Boyle III, principal for the Trammell Crow Co., represented Epsilon in the site search and lease negotiations. Chip Batchelder, senior vice president of R. M. Bradley, handled the negotiations on behalf of the property owner, Hobbs Brook Management, LLC.

According to Reinhart, seven different sites were evaluated before selection of this location. “We conducted cost estimates and test fits to build out each site, comparing efficiencies,” he says. “Edgewater offered Epsilon the greatest benefits in the most cost-effective scenario.”

The company is relocating its headquarters from its current location at 50 Cambridge St. in Burlington, MA. Michael Iaccarino, president and CEO of Epsilon says that the company decided to move because “we are able to maintain affordable occupancy rates over an extended period of time in an extremely efficient space within a brand new building. This will provide our employees with a state-of-the-art facility without significantly altering our employees’ commute.”

CRESA Partners was also selected to provide project management services for Epsilon’s new space, which is within the six-building Edgewater Office park. According to Murphy, the project team is currently being finalized, and construction will begin in the fall. The relocation is scheduled for this coming spring 2003 and also includes the consolidation of a previously 12,000-sf data center into an 8,000-sf space. Once fully relocated, Epsilon will be the largest tenant within the office park.

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