LONDONDERRY, N.H.— In a significant move that reflects growing demand for advanced manufacturing space in southern New Hampshire, Intelligent Manufacturing Solutions (IMS) has signed an 86,954-square-foot lease at 12 Innovation Way, a Class A light industrial property located near the Manchester-Boston Regional Airport.
The lease was arranged by global commercial real estate services firm Newmark, with Executive Managing Directors Rich Ruggiero, Brian Pinch, and Tyler McGrail representing the landlord, R.J. Kelly, in the negotiations.
The deal marks a major expansion for IMS, a circuit board assembly company that will more than double the size of its operations as it relocates from its previous facility at 645 Harvey Road.
“We’re proud to have helped secure a long-term solution that supports IMS’ growth trajectory and positions the company for continued success,” said Ruggiero. “By understanding the tenant’s evolving operational needs and aligning with the landlord’s objectives, our team was able to negotiate a lease that benefits both parties and strengthens the value of this high-quality asset.”
Built in 2018, 12 Innovation Way is a 233,839-square-foot facility designed for office, manufacturing, and light assembly uses. Located just off State Route 3 and within a 10-minute drive of Interstates 93 and 293, the property offers strategic access to major transportation routes. Following the IMS lease, approximately 50,000 square feet remain available, with the potential to expand the facility by an additional 70,000 square feet.
“We are excited to have IMS in the building and up and running,” said Brandon Kelly, President of RJ Kelly. “This premier building is perfectly suited to accommodate IMS’ growth in the circuit board manufacturing industry.”
The lease comes at a time of tightening conditions in the regional industrial real estate market. According to Newmark Research, availability in southern New Hampshire’s industrial sector has fallen to 6.2%, down from nearly 8% a year ago. Class A industrial properties are particularly scarce, with availability in this category declining by 10% since Q1 2025.
As demand for high-quality industrial space continues to rise, the IMS lease underscores the value of modern, well-located facilities like 12 Innovation Way — and signals continued momentum for the region’s manufacturing and technology sectors.
