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Walpole Park Inks 30,000 SF in Two Deals

WALPOLE, MA-The agreements drop vacancy at the nine-building flex park adjacent to Gillette Stadium back into the single digits.

By Joe Clements | Updated on March 10, 2008

[IMGCAP(1)]WALPOLE, MA-A nine-building flex complex adjacent to Gillette Stadium has scored a pair of leases totaling just under 30,000 sf. The agreements bring vacancy into single digits for Walpole Park South, which is owned by John D. Murphy Co of Walpole.

“It’s a nice couple of deals for the property and the market,” says Cushman & Wakefield senior director J.P. Plunkett, who joined C&W senior director Catherine Minnerly and associate Jason Bryer as agents for the landlord on both leases. The largest is a 29,000-sf pact by Bridge Medical at Building Six, accompanied by a 9,000-sf commitment from the Music & Arts Center, which will occupy space in Building One. CB Richard Ellis principal Steve Clancy was Bridge Medical’s broker, while Auburndale Realty Corp. President Robert Nahigian orchestrated negotiations for Music & Arts Center.

[IMGCAP(2)]Walpole Park South is one of suburban Boston’s most established business addresses, having been founded in 1972 by company namesake John Murphy and continuing on as a family owned operation now led by son Donnell Murphy. The 54-acre complex abuts Route One near the intersection of Interstate 95. The property is also near Interstate 495 and roads leading into Connecticut and Rhode Island. The park has traditionally retained a low vacancy rate, but development of speculative product in the past few years did increase that level into double digits before being brought down again through the latest deals.

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