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Astra Tech Nearing 85,000-SF Lease Deal

WALTHAM, MA-Sources claim the medical devices firm has signed a letter of intent for all of 590 Lincoln St.

By Joe Clements | Updated on February 12, 2008

WALTHAM, MA-A high-flying medical devices company is about to give suburban Boston’s office market a welcomed shot in the arm, as Astra Tech Inc. is supposedly on the verge of signing an 85,000-sf lease to occupy 590 Lincoln St. for its regional headquarters. Part of the Hobbs Brook Office Park, the building is undergoing a complete renovation and upgrade to first class space by the landlord, HBM Management.

“Yes, we have,” an Astra Tech spokesman confirmed when asked by GlobeSt.com whether the firm has been pursuing 590 Lincoln St. as the answer for a space search to relocate from its present home at 890 Winter St. in Waltham. The spokesman declined to offer details, but did dispute industry reports that a letter of intent has been inked. One source close to the deal insists Astra Tech has committed to take all the space in the building for 10 years, and predicts a final lease could be in place as early as next week.

Most parties involved in the negotiations did not respond by press deadline, including brokers at NAI Hunneman Commercial Co. and Wyman Street Advisors. NAI Hunneman SVPs James Boudrot and Steven James are agents for the tenant, while Wyman Street principal Charles Batchelder is exclusive leasing agent for Hobbs Brook Office Park. HBM principal Donald Oldmixon also did not respond to press inquiries by deadline.

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