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MARLBOROUGH, MA-A growing high-tech firm is making the move here from Framingham in a big way, as Netezza has agreed to lease 60,000 sf at 26 Forest St. The three-story, 120,000-sf first class building is located in the Lake Williams Corporate Center.

Originally constructed as a build-to-suit for Fidelity Investments, 26 Forest St.’s high level of technology infrastructure was a key element in Netezza’s selection, according to the tenant’s broker, Kevin Hanna of Cushman & Wakefield. A global leader in analytic appliances, Netezza will use the building for its regional operations under the long-term agreement. The parties involved did not divulge lease terms for the transaction.

The landlord at 26 Forest St. is Great Point Investors, a Boston-based real estate investment firm that acquired two buildings in the Lake Williams Corporate Center for $33 million in 2002. Great Point bought the assets from National Development of Newton, the original developer, and from Taurus Investments. Richards Barry Joyce & Partners broker John Lashar headed up the team representing Great Point in the Netezza lease negotiations, an effort aided by colleagues Paul Leone and Brian McKenzie.

After several difficult years, the Interstate 495 West submarket that includes Marlborough had a solid 2007, according to results provided by Cushman & Wakefield. The submarket of 5.4 million sf had 234,000 sf of positive net absorption last year, reports C&W, helping drop the vacancy rate to 15.9%. That is still second highest among seven submarkets in the survey, with the overall suburban average at 11.4%.

Industry observers have reported increased activity in the second half of 2007 in I-495 West, fueled partly by an increasing pricing gap between Route 128 and the I-495 belt. According to C&W, the average direct rental rate in I-495 West is $19.41 per sf, well below the $32.81 per sf average in the core Route 128 Central submarket anchored by Waltham.

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