Boston – Avison Young announced that its Boston office has arranged 56,250 square feet (sf) in new lease deals at 753 Forest Street in Marlborough, MA, bringing the property’s occupancy level to 100%.
Global electronics solutions provider Richardson Electronics has recommitted to a longer-term lease for 40,650 sf, North American fastener distributor Fastenal Company has signed a new 7,965-sf lease and measurements solutions provider Mitutoyo America Corporation has also extended its lease for a longer-term for 7,644 sf. All three companies plan to utilize their spaces for office, storage, distribution and technical training.
Bill Sullivan, a Senior Vice President at Avison Young who specializes in the industrial and office sectors, and Jon Pezzoni, a Vice President at Avison Young who also specializes in the industrial and office sectors, represented the landlord, True Associates, of Westwood, and the tenants, in the negotiations.
“Having three major global companies commit to new long-term lease agreements at 753 Forest Street is a major indicator of the continued strength of the Greater Boston suburban market,” said Sullivan. “The location near two major thoroughfares provides tenants with access to various talent labor pools while the property’s space and zoning allows flexibility to house office, fulfillment and training under the same roof.”
Built in 1986, 753 Forest Street is a 75,000-sf property comprising convenience and versatility. The property features private rear-loading docks, heating and cooled warehouse space and easy subdivision opportunities that provide tenants with the flexibility to accommodate a range uses from office to industrial. 753 Forest Street is located just off Interstate 495 with close proximity to Route 20, offering accessibility throughout the Greater Boston area in addition to a bevy of local restaurant, hotel and retail operators.