The firm, which produces electron beam emitters, was occupying about 10,000 sf at 10 Upton Dr. in Wilmington when it first looked at the 299-301 Ballardvale St. building last February, says Brandon Kelly, with RJ Kelly Company of Burlington.
"What brought them to the property was the ability for them to get exactly what they wanted," he tells GlobeSt.com, noting that the building's current owner, Essex Investments, a subsidiary of Essex River Ventures, of Boston, worked closely with the firm to customize its needs. An aggressive lease rate and a top-notch landlord helped solidify the deal, he says.
Terms of the lease were not disclosed but Kelly says similar space in the Wilmington area generally leases between $7.50 to $12 per sf, triple net. The firm will share the 128,000-sf building with the high tech firms BOC Edwards and ONI.
Kelly, along with Robert King of Essex Ventures, handled the transaction for the landlord. The tenant was represented by Steve Rich and Peter Trivelas, both with Equis Corp.
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.
