"They had a very small sales office, but this will be a major facility for them," says Ross, who handled the leasing arrangements for the tenant along with Bill Goade, Cresa's chairman. Terms of the lease were not disclosed, but Ross says office space in the Marlborough area generally leases in for $16 to $18 gross.
Ross also declined to identify the firm acquired by the Sunnyvale, CA-based technology firm, but according to Marvell Technology's website, the firm closed on the $600-million acquisition of Intel's cellular-communications and applications-processor business earlier this month.
The 178,697-sf, five-story class A asset was acquired for $17.6 million less than a year ago by Realty Financial Partners and Lincoln Property Co. In that time it has gone from 57% to 70% occupancy under the new ownership, according to Kevin Malloy, with Lincoln. Malloy and Tim Latham, also with Lincoln, handled the leasing duties in the Marvell transaction.
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