Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MARLBOROUGH, MA-Motorola Corp. signed a lease for 60,000-sf of space at 111 Locke Dr. The deal will enable the telecommunications and electronics company to consolidate from several locations into a single site. Lease rates for this deal were not available, but the average asking rent for similar space in Marlborough is about $21 per sf.

Michael Frisoli, John Lashar, and Brian McKenzie, partners at Richards Barry Joyce & Partners, structured the lease for property owner, Park Development Corp. Motorola was represented by Binswanger/CBB.

Park Development Corp. developed the park where the property is located and owns two other buildings in the location. The building offers Motorola immediate access to Route 495 and the Massachusetts Turnpike.

The deal is good news in this market that is still struggling with vacancy rates of about 31%, according to Grubb & Ellis’s latest statistics. The Route 495 West market has had a negative absorption of a whopping 507,357 so far this year, worse than any of Greater Boston’s other submarkets.

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?

Dig Deeper



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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.