Senior vice president Daniel Cordeau of Spaulding & Slye Colliers represented Azonix. Robert Morgan of the Gutierrez Co. negotiated on behalf of the company, which owns the single-story research and development building. Gutierrez is renovating the space to meet the changing needs of Azonix, which has occupied space in the building for the past 12 years.
"Azonix looked at some very good alternatives," says Cordeau. "The Gutierrez Co. was able to provide the right economic package and renovations to the facility to meet Azonix's needs." The facility is part of an eight-building master planned 550,000 sf office park near Route 3.
Lease rates for this deal were not available but the average asking rent for office space in the area is about $16 per sf. Manufacturing space goes for about $10 per sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
