Marlborough, Mass. (August 6, 2008) — Normandy Real Estate Partners, one of the largest real estate owners and operators in the Boston to Washington, D.C. corridor, recently announced the completion of two leases at Marlborough Technology Park in Marlborough, Massachusetts totaling 26,895 square feet.
Biokey International Inc., a company that develops advanced identification solutions for police, fire, and emergency service departments in North America, has committed to 14,907 square-feet of space in Building 300. The lease was brokered by John Lasher of Richard Barry Joyce & Partners.
A second lease was brokered by Robert McGuire of CB Richard Ellis and totals 11,988 square feet. Cardinal Health Solutions, Inc., the leading provider of products and services supporting the healthcare industry and a current tenant of Marlborough Technology Park, has signed a lease extension and relocation to Building 400.
“The completion of these two leases is a reflection of Normandy’s commitment to the repositioning and improvement at Marlborough Technology Park,” said Raymond P. Trevisan, a principal at Normandy Real Estate Partners who oversees the leasing of the firm’s portfolio. “The recent renovations and upgrades to the property show our current and potential tenants that we are constantly thinking about ways to retain their valued employees.”
Marlborough Technology Park recently underwent a two-phase renovation and repositioning that was completed in the spring of this year. Improvements included the addition of a new full-service cafeteria, a fully equipped state-of-the-art fitness center with showers and lockers, an executive conference meeting center and board room, a training area, an employee breakout lounge area, new lobby, new restrooms, flat screen TVs throughout the common area and an on-site property management office. In addition, new landscaping, new signage throughout the park, and renovated restrooms and lobbies at each building were also added.
Marlborough Technology Park is an 85-acre campus with 573,576 square feet of office and lab space in seven two-story buildings. The campus is master planned and can accommodate an additional 270,000 square feet of development. It is located on Nickerson Road in Marlborough off I-495 with easy access to all major routes in the MetroWest Region in all directions, including the Massachusetts Turnpike, I-290, Route 128 and Route 9.
About Normandy Real Estate Partners
Normandy Real Estate Partners, one of the nation’s leading privately held investment management firms, owns and operates one of the largest diversified real estate portfolios in the Northeast/mid-Atlantic region. Since its founding in 2002, Normandy has acquired a portfolio totaling more than $3 billion. The firm has been extremely active in the Greater Boston area, where it owns 32 commercial properties comprising more than 3.7 million square feet, 325 hotel rooms, and various development sites. Most of Normandy’s holdings in the Boston area are in the Route 128 corridor. Normandy maintains its regional headquarters in Boston at 99 Summer Street, which it also owns.
The firm targets real estate opportunities where it can leverage the whole spectrum of its fully integrated capabilities, including development, management, leasing and asset management. Normandy is currently investing through its discretionary real estate fund which has approximately $1.8 billion in total purchasing power. For more information visit www.normandyrealty.com.
About Richards Barry Joyce & Partners
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, investment sales, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune.
CB Richard Ellis’s New England practice has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property, facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting. Please visit our Web site at www.cbre.com.