Rreef Fills 40,000 SF in Pair of HQ Leases

BILLERICA, MA-Two leases totaling more than 40,000 sf are helping carry the momentum of a robust 2007 for the northern suburban flex/office markets into the new year. In the larger of the transactions, Aushon BioSystems is taking 21,500 sf at 43 Manning Rd., while QC Solutions is leasing 20,000 sf at 29 Dunham Rd.

“It’s more of the same,” Colliers Meredith & Grew SVP Matthew Daniels tells GlobeSt.com in reporting solid velocity present throughout the Interstate 495 North and Route 128 Northwest submarkets that converge along Route 3 in Billerica. I-495 North posted more than one million sf of positive net absorption last year whereas that figure is typically closer to 350,000 sf, says Daniels. The Route 128 Northwest submarket of 21 million sf fared even better, with CM&G tracking 2.2 million sf of positive net absorption.

Although CM&G has Billerica in the I-495 North region, Daniels says the community is close enough to Route 128 to attract prospective tenants such as Aushon BioSystems, which is relocating its global headquarters from Burlington. There has been organic growth as well, evidenced by the expansion of QC Solutions, which has been operating from a smaller facility on Linnell Circle in Billerica. Both firms signed five-year agreements. Financial terms were not disclosed.