Brickstone Sq. Cements 110,000 SF in Leases

ANDOVER, MA-Leasing has been spotty in many parts this spring, but that does not appear to be the case for the Brickstone Square complex here, as landlord Transwestern Investment Co. is signing deals totaling nearly 110,000 sf in eight recently completed agreements. The three-building business center contains one million sf of class A space in a campus setting alongside suburban Boston’s Interstate 93 North corridor.

“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.