BOSTON – Davis Marcus Partners is pleased to announce that it has leased 45,275 sf of life science and office space at 53 and 115 Fourth Avenue in Needham, bringing both buildings to 100 percent occupancy. New tenant, Invicro, will move its life science and lab operations to the recently redesigned Needham location, while current tenants, Syniti and Encore Fire Protection, will each more than double their current footprints.
Located 20 minutes from Boston, directly off Route 128 (I-95), 53 and 115 Fourth Avenue offer numerous benefits for tenants, including ease of access to Boston, the vibrancy of nearby retail on Highland Avenue and Needham Street, walking trails along the Charles River, and recreational activities such as biking and canoeing at Nahanton Park across the river. Tenants can also take advantage of the buildings’ abundant onsite parking, newly redesigned common spaces, upgraded building systems, a tenant lounge with TVs, soft seating, a LeanBox and a Bevi station, as well as a new fitness center and outdoor patio.
Invicro, a Konica Minolta company, is an integral part of Konica Minolta’s precision medicine initiative, which aims to accelerate personalized medicine, discover novel therapeutic targets and develop innovative therapeutic technologies for unmet medical needs. Invicro will occupy 36,000 sf of lab and office space at 115 Fourth Avenue, marking a major move for the life science industry, as the demand for premier lab space pushes southwest of Boston.
Existing tenants, Syniti and Encore Fire Protection, are renewing their current leases and expanding their footprints, by 5,192 sf at 115 Fourth Avenue (10,259 sf of total occupancy) and 4,083 sf at 53 Fourth Avenue (11,083 sf of total occupancy) respectively.
“It’s very promising to see demand for quality lab space expand southwest of Boston with Invicro and also to watch as both our existing tenants, Syniti and Encore Fire Protection, grow their businesses and commit to expand their footprints in our buildings during such uncertain times,” said Matt Katz, Vice President of Asset Management at The Davis Companies, which manages the properties for the Davis Marcus joint venture.
“The demand for these buildings was incredibly high, given the build quality, neighboring retail, and accessibility to Boston, so we’re not surprised these three premier tenants decided to grow their operations at 53 and 115 Fourth Avenue,” said Rob Byrne, Managing Director at Cushman & Wakefield.
Despite pandemic concerns, leasing at 53 and 115 Fourth Avenue remained exceptionally strong this past year. With the addition of Invicro, the expansions of Syniti and Encore Fire Protection, and the addition of FareHarbor in August 2020, 53 and 115 Fourth Avenue have leased over 57,000 sf of commercial space since the state-mandated shutdown in March of 2020.
The Cushman & Wakefield team of Rob Byrne, Elizabeth Swanson and Ross Gaudet represented the landlord in all transactions.
Both 53 and 115 Fourth Avenue are owned by Davis Marcus Partners, a joint venture between The Davis Companies and Marcus Partners.