Tyco Sets Eyes on Taylor Woods Option

LITTLETON, MA-A real estate throwback from suburban Boston’s golden age of computers is close to getting a new lease on life, as Tyco International reportedly prepares to lease all of 151 Taylor St. The building is a two-story, 100,000-sf flex/office building located at the juncture of Route 2 and Interstate 495. The property is owned by the Bulfinch Cos. of Needham, which acquired it three years ago from Hewlett Packard for $4.3 million.

“It looks good that it is going to happen,” one source says of Tyco committing to the asset, which Bulfinch has renamed Taylor Woods as part of a repositioning campaign. The veteran development and investment firm has also made substantial capital improvements to the building after last summer taking out a $70-million mortgage from Anglo-Irish Bank Corp., enabling Bulfinch to pursue solid credit tenants circulating in the Interstate 495 region.

At this point, none of the parties involved seems willing to discuss the situation, with calls to Bulfinch and the landlord’s leasing agents at Richards Barry Joyce & Partners not returned by press deadline. RBJ principal Brian McKenzie and VP Jamey Lipscomb are exclusive leasing brokers for Taylor Woods, while Mark Reardon and Kerry Olson of CB Richard Ellis are conducting the space search for Tyco.