Christopher Tosti, Robert Walles, Robert McGuire and Matt Flaherty of CB Richard Ellis represented property owner, Berkeley Investments, Inc., in the Pulte transaction, and Kevin Malloy of Lincoln Property Co. represented the tenant.
In the 3M lease transaction, Walles, McGuire, Flaherty and Tosti of CBRE represented Berkeley while Mark Reardon of CBRE represented the tenant.
"Both companies were looking for a property west of the city to locate office space, and 115 Flanders Road fit the bill on both occasions," says Walles. The building is located on 13 acres at the intersection of Routes 495 and 9, 25 miles west of Downtown Boston. The building was originally built in 1987 and its current tenants include OZ Development, Cambex Corp. and Indigene Pharmaceuticals.
Lease rates for this deal were not available but the average asking rent for office space in the area is about $19 per sf. Research and development space in the area goes for approximately $10 per sf.
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