High-Tech Tenants Select Dedham Place

DEDHAM, MA-A pair of deals signed here at Dedham Place reflects an improved office-leasing climate beyond the core Route 128 Central submarket, according to officials at Normandy Real Estate Partners, owners of the 160,000-sf building. The two commitments in the Route 128 South strip totaled just over 26,000 sf, as Open Channel Solutions took 14,000 sf and Metatomix Inc. secured more than 12,000 sf.

“The demand for a quality building such as Dedham Place is growing, especially given the low vacancy along the Route 128 corridor,” says Normandy principal Raymond Trevisan. The 20-year-old building at 3 Allied Dr. was purchased by Morristown, NJ-based Normandy in early 2006 for $23.6 million after being completely overhauled in 2002. The acquisition was included in a five-building portfolio purchased by Normandy that included Norfolk Place, a three-story, 47,000-sf office building also in Dedham. That asset at 333 Elm St. was purchased for $8.2 million.

Tenant brokers participating in the latest leases were Taryn Wilson and Lance Carlton of Grubb & Ellis negotiating for OCS, while Ty Janney of Cushman & Wakefield served as agent for Metatomix. CB Richard Ellis principals Steve Clancy and Jim Nicoletti represented Normandy in both transactions. OCS is relocating from nearby Norwood, whereas Metatomix is coming from Waltham, suburban Boston’s corporate hotspot and the anchor for Route 128 Central.