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News: Front Section
Posted: November 25, 2022
SVN | Parsons completes 22,187 s/f in new leases and renewals at Knowledge Park
Marlborough, MA SVN | Parsons Commercial Group | Boston has completed 22,187 s/f of lease renewals and new deals at Knowledge Park, bringing the three-building office park to 90% occupancy.
Within the past couple of months, Knowledge Park has expanded, renewed, and welcomed four new tenants to the park. The Better Business Bureau, a non-profit organization currently located in town, will occupy 4,078 s/f on the first floor of Building 4. Lightelligence, an AI hardware company, will be moving into 3,768 s/f to accommodate their growth. Ellie Mental Health, which offers mental health services for all ages, leased 2,732 s/f at Building 2, opening their first Massachusetts location. In addition to these new tenants, one of Knowledge Park’s largest tenants, Solmetex (medical equipment manufacturing) renewed their current lease and expanded their footprint to 11,609 s/f.
“We continue to see strong activity in new deals, renewals, and expansions at Knowledge Park,” said senior advisor Garrett Quinn of SVN | Parsons. “Ownership at Knowledge Park continues to retain tenants and offer unique and effective solutions for office tenants in the MetroWest market.”
Knowledge Park consists of three buildings (2, 4, and 5 Mount Royal Ave.) for a total of 161,000 s/f located on Rte. 20 directly off I-495.
“We want new and existing tenants to know that we can accommodate their office space needs whether they are complex or simple,” said Bob MacNamara, president of Dartmouth Property Management who manages the campus.
“We’ve been very successful in helping tenants with their office layouts while offering effective and creative solutions to ensure our tenants are getting the most out of their office space”.
CB Equities purchased the three-building portfolio in 2017 and has made improvements including a gathering space called “The Club Room” that offers a free Starbucks coffee machine, comfortable co-working rooms, outdoor patio, a fitness center, and a business lounge.
Building 2 is currently in the middle of a renovation to the façade. Ownership is painting the exterior and adding wood paneling to the front of the building that faces Rte. 20.
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