Lenny Owens, executive vice president of McCall & Almy,represented IBM in conjunction with Ken Lowell, program manager ofreal estate operations at IBM. The Kiln Brook Office Park is ownedby a Morgan Stanley-advised client. Morgan Stanley was advised byTrammell Crow Co.'s John Boyle, principal; Keith Gurtler, seniorvice president; Pat Cooper, property manager; and Deanne Conte,vice president.

John Buza, head of Morgan Stanley's US asset managementbusiness, notes that, "the execution of the IBM lease clearly addsto the long-term strength and stability of the Kiln Brook OfficePark." He adds that the lease was negotiated during a "particularlychallenging time in the suburban Boston office market and is adesirable outcome for the property and our client."

Kiln Brook Office Park is a class A, five-building office parktotaling 355,700 sf. The property is located one mile from Route128 and 11 miles northwest of Downtown Boston. Lease rates in thearea average about $21 per sf. According to Trammell Crow Co.'smost recent statistics, Lexington's overall availability rate is at20%, a figure that is 1% higher than the vacancy rate inJanuary.