X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BILLERICA, MA-Suburban Boston’s technology market is again showing signs of life, as evidenced by a 24,000-sf lease here to Avici Systems. The firm, which provides core routing services for data networks, is taking the space at Building Four of 101 Billerica Ave., owned by BBC Equity Partners.

“Avici Systems is one of the fastest growing IP solutions providers and needed more space to expand,” explains NAI Hunneman Commercial Co. SVP James Boudrot, who negotiated lease terms for the tenant with colleague Stephen James following a space search. The answer for Avici was not far away, says Boudrot, with the firm able to utilize real estate in the same office park as its headquarters. Avici Systems is based in Building Two.

Several aspects of the complex appeal to Avici Systems, relays Boudrot, including the location in the Interstate 495 North office submarket. The park is situated just off Exit 37 of I-495, two stops away from Route 3. The property is also accessible via a nearby commuter rail line that provides transit into Boston and Lowell.

Avici Systems is one of several technology firms who have expanded in the I-495 North corridor this year. After leading Massachusetts as a hub for Internet, software and other high-tech activity to begin the decade, I-495 North was crippled by the subsequent recession, with vacancies ballooning into the mid-30% range. The difficulties lingered until recently, but I-495 has seemingly begun its recovery. According to the latest figures from Richards Barry Joyce & Partners, the 14-million-sf office market has dropped its vacancy to 26.3% after adding 363,000 sf of positive absorption in the past four quarters. That rate is still, however, the highest vacancy of any office submarket reviewed by RBJ, and well above the overall suburban average of 18.4%.

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

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.