News: Front Section
Posted: December 1, 2009
Nugent of RBJ reps. Intrum in 32,371 s/f lease to Euro-Pro Operations
Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, brokered a new 32,371 s/f lease at 180 Wells Ave. The firm represented the landlord, an affiliate of Intrum Corp., in the lease with Euro-Pro Operating, LLC.
Euro-Pro, a pioneer in innovative cleaning solutions and small household appliances, leased the entire second floor and parts of the first and third floor. The company is moving from their current Washington St. location to 180 Wells Ave., which will become Euro-Pro's new corporate headquarters.
180 Wells Ave. is a three-story, class A office building totaling 54,000 s/f. The building has recently undergone significant improvements, including upgrades to common areas, building systems and landscaping. The building offers parking, access to Rte. 128, and an amenity-rich location with nearby health clubs, restaurants, retail, day care facilities and hotels.
"Euro-Pro has a long history and excellent product set and we are pleased to have attracted them to 180 Wells Ave.," said Jay Nugent, senior vice president, RBJ, who represented the landlord in the transaction. "The building's recent upgrades and close proximity to Rte. 128 make it a good fit for their needs."
Intrum Corp. is a real estate management and development company that owns several commercial properties west of Boston. RBJ is the exclusive leasing agent for 180 Wells Ave. Euro-Pro was represented by Eric Solem with Landmark Real Estate Advisors.
Office Market Statistics - Route 128 West
According to research by RBJ, the Route 128 West submarket consists of 20,529,000 square feet of office space and was 15.2% vacant, as of the quarter ended September 30, 2009. [source: Richards Barry Joyce & Partners' "officeSTATus - Fall 2009"]
About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com
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