Eutek, a maker of grit removal systems for water treatment plants, signed a 76-month lease for Suntech 3, which is located at 2925 NW Aloclek Dr. The blended asking rate for the space was $0.76 per sf per month, and the effective rate on the negotiated lease is believed to be very close to that amount.
The deal included a tenant improvement allowance. The parties involved did not discuss the allowance, but a typical allowance would come in around $30 per sf.
David Squire, Eric Haskins, and Brandon Frank of Grubb & Ellis have the leasing assignment for the property. Cliff Finnell with Colliers International represented Eutek.
Suntech is a four-building, 302,000-sf office/R&D park. In April 2004, Bedford paid $19.4 million for Suntech 1 & 2, which total 126,800 sf and are fully leased by Santa Clara, CA-based Sun Microsystems and locally based Merant Software. It picked up Suntech 3 in October 2004 for $9.8 million. The fourth building in the park is owned by Rreef and leased by Sun Microsystems.
G&E landed the first tenant for Suntech 3 this past July. Fiber Sensys LLC, a Comudyne company, signed a 5.5-year lease for 31,372 sf.
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