DEDHAM — As 2016’s opening frame comes to a conclusion, suburban leasing remains brisk, a pace evident in recent handiwork of the Boston Realty Advisors team covering inner suburbs on the Hub’s western flank and Route 128 Central. Five commitments totaling 45,500 sf feature a virgin lease in Wellesley and the nearly doubling in size to 25,000 sf by Delta Projects at 118 Allied Dr. here in Dedham, that office building located near the critical juncture of Routes One and 128 plus I-95.
“It has been busy to say the least,” BRA partner and team member Adam T. Meixner tells Real Reporter in reviewing the first quarter flurry. “Companies are growing and it’s encouraging to see the confidence today to take more space.” Joining Meixner on the firm’s suburban contingent are principals Doug Adamian, Jeremy Freid, SIOR, Senior Associate Matthew Keys and Associates Tyler Griffin and Jordan Sneider.
The team also pushed across three renewals for 16,500 sf aggregate, headlined in 8,000 sf by NESCA at 55 Chapel St. in Newton and 4,500 sf at 10 Langley Rd. in Newton by Advantage Testing, with BRA advising the landlord there and Brentandy Real Estate covering for the tenant. Transwestern RBJ principal Rob Byrne negotiated terms for the landlord in the NESCA case. Fifty-five Chapel St. is owned by a private investment group led by Jonathan Poorvu.
JLL broker Brendan Cohn was on the landlord side in the Institute for Healthcare Optimization re-upping its 4,000-sf lease at 7/57 Wells Ave. in Newton, that 89,375-sf first class office building featured in the most recent Real Reporter when it was purchased by Angelo, Gordon & Co. with Jumbo Capital for $17.1 million from Normandy Real Estate Partners. That article unveiled the commitment by Angelo, Gordon and Jumbo for both 7/57 Wells Ave., aka Wells Place, and the companion 75- 95 Wells Ave. (Wells Center) that combined traded for $62.2 million. “It’s a beautiful building,” relays Meixner regarding Wells Place, his team’s client in that case a group working to keep costs down in the healthcare system through modern technology and best practices strategies.
The new lease in Wellesley was another tenant assignment in which BRA brought law firm Gibbs & Heinie to 57 River St. Landlord brokers for that 4,000-sf agreement are Lauren Harvey and Tim O’Brien. The building is owned by River Place LP.
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