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NEWTON, MA-Geo-Centers Inc., a science-based research company that provides research and product development services to government, business and academic institutions, is leasing 29,768 sf of office space at 7 Wells Ave. The deal represents an expansion and renewal of Geo-Centers’ headquarters. Lease rates for this deal were not available, but the average asking rent for similar space in the area is about $25 per sf. The long-term lease is one of the area’s largest in recent months.

Debra Lee Stevens, CCIM, principal of GVA Thompson Doyle Hennessey & Stevens, represented Geo-Centers in the transaction while Joel Kadis represented property owner, Archon Atlantic.

Stevens tells GlobeSt.com that Geo-Centers is a main tenant in the 88,679-sf building. She adds that Archon is in the process of renovating the space for Geo-Centers. Stevens notes that Geo-Centers “got a good deal” and she adds that there is a “small window of nine more months left for a tenant to get opportunistic deals. I can see things turning around.”

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