News: Front Section

Snell of The Stevens Group represents Azzur Cleanrooms on Demand in 50,000 s/f lease - Malatesta of Newmark Knight Frank reps. the landlord

Burlington, MA Azzur Cleanrooms on Demand (COD), an Azzur Group company, leased a 50,000 s/f single story free-standing office/flex building located at 60 Blanchard Rd. The property is located across from Lahey Clinic with direct frontage and visibility on Rte. 128/95. Purchased in 2019 by the Nordblom Company, the building will undergo interior renovation, and exterior upgrades.

Amanda Snell, CCIM, principal of The Stevens Group, provided real estate advisory services to Azzur Group and negotiated on their behalf, and Matt Malatesta of Newmark Knight Frank represented the landlord, Nordblom Company. 

 “The Burlington, MA location will be the largest of Azzur COD’s cGMP facilities so far and will house up to 20 cleanrooms and associated cGMP spaces. With our additional services such as materials management, QC testing, IT, calibration/qualification and training, our clients are able to get to clinical manufacturing faster, compared to traditional models of contract manufacturing or a self-operated manufacturing facility,” said Ravi Samavedam, president, Azzur Cleanrooms on Demand. 

“We appreciate the hard work and effort by Amanda Snell and her team at The Stevens Group on Azzur’s behalf as we further expand our offerings in the Boston-Cambridge area. This expansion allows us to better serve the local bio pharma community, giving them the ability to manufacture early-phase clinical products, without the burden of facility ownership and maintenance.”

 

MORE FROM Front Section
Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.