Enterasys Leases 151,000 SF at Minuteman Park

ANDOVER, MA-A full-building, six-figure commitment here is helping launch the autumn office leasing season on an up note. Enterasys Networks Inc. has completed a space search throughout the Interstate 495 North market right back where it began, opting to do a direct deal for all 151,000 sf at 50 Minuteman Rd. A sublease arrangement that initially brought the IT security company to the property is nearing expiration, leading to the engagement of Cushman & Wakefield to explore options.

“They did consider alternatives, but in the end, it just made the most sense to stay put,” says C&W senior director Richard Ruggiero, part of the team assisting Enterasys in its evaluation. Not only were the financial terms and tenant fit out allowances sufficiently attractive, Ruggiero says Enterasys was pleased with the overall quality of 50 Minuteman Rd. and the Minuteman Park campus in which the property is situated.

“It’s definitely one of the best office parks around,” Ruggiero tells GlobeSt.com, as well as one of the most established addresses in the I-495 region. A former dairy farm, the 94-acre complex sits alongside Interstate 93, providing quick access to 954,000 sf in six first-class buildings. Landlord Brickstone Properties began developing the site in the 1970s, and founder Martin Spagat retains an ownership stake in addition to providing management services. Martin and Jeff Spagat represented the landlord in the lease negotiations with Enterasys. Joining Ruggiero on the tenant team were C&W senior directors Torin Taylor and David Pergola, director Matt Adams and associate director Rob Kinlin.