Spaulding & Slye Colliers principal Debra J. Gould and assistant vice president Jeremy M. Roy represented Hood Business Park LLC, and their development partner Nordic Properties. Senior vice president Francis X. Durand and assistant vice president Roger W. Breslin of Meredith & Grew Inc./ONCOR International represented the Visiting Nurses Association. Lease rates for this deal were not available but the average asking rent for office space in the area is about $22 per sf.
"Hood Business Park has proven to be a perfect combination of top-quality, affordable space with a wide range of desirable amenities in a pleasant campus setting," says Linda A. Britt, manager of facilities and administrative services for the Visiting Nurses.
The 309,000-sf 500 Rutherford is the first completed phase of Hood Business Park. The building is currently 90% leased to tenants including the Design Partnership of Cambridge, Personal Health Technology, Boston Datacenters, UPS, AEI Danzas, and Nextel. Hood Business Park is a 1.2 million-sf mixed-use complex/urban business environment comprised of four existing first-class office/research and development buildings with four additional buildings planned as part of the master plan.
The 20-acre urban campus is located on Route 93, just outside Charlestown's recently revitalized City Square. The master plan also incorporates a central park with a large open green space, walkways, trees and sitting areas, enhancements to the telecommunications infrastructure, and structured parking for 1,600 cars. There is approximately 700,000 sf of space permitted to be built in the Park.
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.
