News: Front Section
Posted: April 16, 2021
Davis Marcus Partners completes 45,275 s/f in life science leases at 53 and 115 Fourth Ave., Nedham, MA - both buildings now 100% occupied
Needham, MA Davis Marcus Partners has leased 45,275 s/f of life science and office space at 53 and 115 Fourth Ave., bringing both buildings to 100% occupancy. New tenant, Invicro, will move its life science and lab operations to the recently redesigned location, while current tenants, Syniti and Encore Fire Protection, will each more than double their current footprints.
Located 20 minutes from Boston, off Rte. 128 (I-95), 53 and 115 Fourth Ave. offer numerous benefits for tenants, including ease of access to Boston, tnearby retail on Highland Ave. and Needham St., 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 will occupy 36,000 s/f of lab and office space at 115 Fourth Ave., 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 s/f at 115 Fourth Ave. (10,259 s/f of total occupancy) and 4,083 s/f at 53 Fourth Ave. (11,083 s/f 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 Cos., 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.
The Cushman & Wakefield team of Byrne, Elizabeth Swanson and Ross Gaudet represented the landlord in all transactions.
Both 53 and 115 Fourth Ave. are owned by Davis Marcus Partners, a joint venture between The Davis Companies and Marcus Partners.
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