Flory McCarthy, with Jones Lang LaSalle's Boston office, tells GlobeSt.com that the firm's lease of 111 Powdermill Rd. in Mansfield allowed the subsidiary of Stratus Technologies Group S.A. to consolidate operations from an underutilized 106,000-sf property at 109 Powdermill Rd. and return that building to landlord DEK Portfolio LLC for lease up. The 111 Powdermill Rd. property formerly served as the headquarters for Digital Equipment Corp.
"Both parties really benefited," says McCarthy. "Stratus got some relief on space they weren't using and the owner got a new long-term lease with a great company."
Terms of the lease were not disclosed but McCarthy says similar space in the Mansfield market generally leases in the high $16 per sf range.
The three-story 111 Powdermill Rd. property has served as the world headquarters to Stratus for the last seven years. The tenant, part of Luxenbourg Corp., delivers system solutions for business processes and applications. The building, which was originally built for Digital, is part of a 47-acre campus with 1,400 parking spaces, a cafeteria exercise facility and two heliports.
Jones Lang LaSalle has begun marketing the 109 Powdermill building for lease along with the 111 Powdermill property, which is currently available for sale. The brokerage firm also is exploring options for an additional 10 acres of land at the site.
The lease transaction was handled for Stratus by Bill Zielinski and John Carroll III, both with Meredith & Grew. McCarthy along with Tamie Thompson and Tyler Spring, all with Jones Lang LaSalle, represented building owner DEK Portfolio LLC.
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