Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOXBOROUGH, MA-Synqor Inc., a manufacturer of ac/dc converters, has leased 102,000 sf at 155 Swanson Rd. for a consolidation and expansion while marking one of the largest deals in some time for the suburb.

According to Brian Mackenzie of Richards Barry Joyce & Partners Synqor is moving out of three facilities in Marlborough and Hudson where it leases about 40,000 sf. The company’s leases were up in those locations.

Mackenzie tells GlobeSt.com that Synqor has been looking for space for about two years. “They knew the market was in their favor so they waited it out. They were looking for the right opportunity and rent structure,” he says.

Their patience paid off. Synqor’s lease is structured to allow the company to phase into the industrial space over the next two years. Mackenzie emphasizes the company was able to negotiate the deal because the building, along with 159 Swanson Rd., was recently purchased by Newton-based National Development this past January from Setra Systems Inc. Setra leased back the 102,000-sf 159 Swanson Rd., which Mackenzie points out enabled National Development to “underwrite fairly extensive downtime on the space. They were able to structure a deal and be flexible and aggressive with potential tenants and it played out in their ability to attract Synqor.”

Lease rates for this deal were not available, but similar space in the area hovers in the single digits per sf on a triple net basis. Mackenzie, along with John Lashar, a partner at Richards Barry Joyce & Partners, represented Synqor in the transaction while Jerome Kyllingstad, vice president and director of acquisitions for National Development represented his company.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.