The master plan involves six office, research and development and telecommunications buildings along with 1,600 parking spaces. Three of the office buildings are new with two of them at 220,000 sf and six stories each and one at 100,000 sf and four stories. According to a released statement, construction on the powerhouse, a 34,000-sf renovation, will be completed in February and the company is moving forward on the 55,000-sf renovation of the cooler building. Nordic Properties also anticipates receiving a building permit for 480 Rutherford Ave., a 106,000-sf renovation and expansion, in time to begin construction this January.

500 Rutherford Ave., the first completed phase of the Park, is currently 100% leased. Among its tenants are Design Partnership of Cambridge, Personal Health Technology, Allegiance Telecom, Broadview Networks, and Hosting.com.

Nordic Properties is the real estate investment affiliate of Burlington, MA-based Nordblom Company, a provider of real estate solutions. The company specializes in commercial and multifamily brokerage, property management, investment sales, development and asset management.