BOSTON— CB Richard Ellis/New England announced that it has arranged three new leases totaling 16,639 square feet at Burlington Centre, a 500,000 square foot master-planned office park located in Burlington, Massachusetts.
The firm facilitated a new 4,271 square foot lease with Proteus Technologies at 35 Corporate Drive; a new 4,592 square foot lease with International Mailing Systems at 25 Corporate Drive; and a new 7,776 square foot lease with Awareness, Inc. also at 25 Corporate Drive.
The CBRE team of Kerry Olson, Vice President, and Jason Levendusky, First Vice President, represented ownership Multi-Employer Property Trust in all three transactions. The team also represented International Mailing Systems in its lease at 25 Corporate Drive. Proteus Technologies, a software and systems engineering solutions provider, was represented by Rory Walsh, Associate at Cushman & Wakefield while social media marketing firm Awareness, Inc. was represented by Mike Shreve, Senior Vice President, and Greg Hoffmeister, Managing Director, of T3 Realty Advisors.
“Burlington Centre is well located with immediate access to Route 128 in an amenity-rich area and we’re pleased to welcome three new tenants to the park,“ said CBRE’s Kerry Olson.
25 Corporate Drive, a 125,000 square foot Class A office building, was constructed in 1990 and features a two-story atrium lobby with marble flooring, cherry paneling and brass finishes. The four-story building also offers a full-service cafeteria, outdoor patio seating, structured parking and an on-site fitness center. 35 Corporate Drive features approximately 120,000 square feet of Class A office space in addition to a two-story atrium lobby, granite flooring, African wood paneling and stainless steel fixtures. Built in 1999, the building offers premier visibility from Interstate 95/Route 128, distant views of the Boston skyline, and ample parking. Kennedy Associates, a full-service real estate investment advisor, acts as the exclusive advisor for the property.
Burlington Centre is situated on 78+ acres adjacent to Route 3A in Burlington just 15 miles northwest of Boston. The centre recently selected new operator Unidine as its exclusive food service provider.
According to research by CB Richard Ellis, the Route 128 North Office Market comprises approximately 17.5 million square feet. At the close of the third quarter 2009, the market posted a 25.6% availability rate, a 21.5% vacancy rate and a 2.0% sublease rate.