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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.

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