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Realty Financial Inks 27,000-SF Office Lease

MARLBOROUGH, MA-The new tenant at 67 Forest St. is a medical technology firm based in Scotland and takes a full floor at the 65,000-sf property.

By Joe Clements | Updated on January 16, 2008

MARLBOROUGH, MA-A prominent office building here has landed a firm with international cache, as Scottish-based Optos agrees to take a full floor at 67 Forest St. The three-story, 65,000-sf property is owned by Realty Financial Partners of Wellesley.

Optos “needed more space to accommodate their internal growth,” explains Lincoln Property Co. broker Tim Latham, who negotiated the lease for the landlord along with Lincoln colleague Kevin Malloy. The commitment for nearly 27,000 sf on the third floor represents an increase of 17,000 sf to be occupied by Optos, says Latham, who declined to provide terms such as lease length or rates due to confidentiality agreements. Jack Kerrigan and Steve Cook of Grubb & Ellis represented the tenant, whose US headquarters is relocating from another Marlborough building.

Optos is among a cadre of tenants with requirements of 10,000 sf to 30,000 sf who have been driving activity in the Interstate 495 West submarket, says Latham. “There has been some good velocity over the past month or two,” he reports. Latham and Malloy are also exclusive agents for Realty Financial Partners on another Marlborough asset, 293 Boston Post Rd. Occupancy in that 180,000-sf building has spiked from 40% to 90% in the past 18 months, while 67 Forest St. is now two-thirds leased after being completely empty at the outset of 2007.

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