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WESTBOROUGH, MA-Communications Test Design Inc. signed a lease renewal agreement with Glenborough Realty Trust Inc. for 37,200 sf in the Flanders Industrial Park at 133 Flanders Rd. Lease rates for this deal were not released, but according to Trammel Crow Co. average asking rents for office space in Westborough as of this past April is $20 per sf, down slightly from $21 per sf in January. The area’s overall available space has gone up in that time period, from 26% in January to 29% in April.

John Lashar and Brian McKenzie, partners at Richards Barry Joyce & Partners, structured the lease. John Conley, director of leasing for Glenborough, represented Glenborough Realty Trust.

Jim Boisvert, branch manager for CTDI, which provides service solutions to the telecommunications industry, notes that the park is a “great location” for the company’s New England regional operations, mainly due to its centrality. The company is an anchor tenant in the park, which is located near Routes 495 and 9. Boisvert adds that the new lease enabled CTDI to reconfigure and improve its space, reduce its expenses and maintain the flexibility it needs for growth.

“We structured the lease to enable CTDI to take advantage of the real estate market and improve its facility with extensive renovations,” says Lashar. “The final deal structure enabled CTDI to stay in their current location with no disruption to their business, while also providing a win for Glenborough.”

Lease rates for this deal were not released, but according to Trammel Crow Co. average asking rents for office space in Westborough as of this past April is $20 per sf, down slightly from $21 per sf in January. The area’s overall available space has gone up in that time period, from 26% in January to 29% in April.

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