"We've seen substantial activity at the park from existing tenants, but more importantly, from active prospects touring the market," says Colliers Meredith & Grew senior vice president Matt Daniels, a member of Brickstone Square's exclusive leasing team. Daniels and CMG assistant vice president Christopher Lawrence represented the Transwestern in the eight latest deals, and Daniels reports additional leases are pending.
Daniels says the park has benefited from $4 million spent on a capital improvements program that fixed common areas, upgraded park signage and built out floors on a speculative basis. Another competitive advantage has been Brickstone's ability to accommodate future growth needs, explains Lawrence, as well as "an outstanding amenity package" that includes a 564-seat cafeteria, day care center, fitness facility and on-site property management. Accessibility has been another plus, he says, with Brickstone Square adjacent to the confluence of I-93 and I-495 and close to key roadways such as Routes 114, 125 and 133.
More than half of the space taken down in the eight just-completed deals is from a 57,000-sf renewal by Unicare. The tenant was represented by Jones Lang LaSalle VP Flory McCarthy. The next largest commitment is a renewal and expansion by law firm Devine, Millimet & Branch to more than 17,000 sf, while Helium Inc. expands to more than double its previous size in a lease of 9,000 sf.
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