Spectral Sciences, Inc. Expands Corporate Headquarters Location In Burlington, Mass. Richards Barry Joyce & Partners Advises R&D Company In Expansion BOSTON – August 24, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Spectral Sciences, Inc. in a 30,600 square foot lease renewal and major expansion for the company’s corporate headquarters. RBJ&P negotiated the lease for office and R&D space at 2-4 Fourth Avenue in Burlington, Mass. Spectral Sciences, a leading research and development company, doubled its presence and now leases the entire single-story building. 2-4 Fourth Avenue is located in NorthWest Park. “Massachusetts is home to many leading edge companies, such as Spectral Sciences, and we are fortunate to be able to advise many of them on their real estate strategy,” said Ron Friedman, senior vice president, Richards Barry Joyce & Partners. “Spectral Sciences is a very dynamic company and its rapid growth required a doubling of its space. By expanding within NorthWest Park, the company eliminates the disruption caused by a headquarters move, while also taking advantage of very favorable market conditions.” Mr. Friedman and Jonathan Varholak, partner, of Richards Barry Joyce & Partners represented Spectral Sciences in the lease. The building’s landlord, Nordblom Company, was represented internally. Market Statistics – Route 128 North Office Market About Spectral Sciences, Inc. 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. ### ________________________________________________________________________________________________________ Virtusa Corporation Extends Corporate Headquarters Lease In Westborough, Mass. Richards Barry Joyce & Partners Advises Information Technology Firm In Lease Negotiations BOSTON – August 10, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Virtusa Corporation in a lease extension for its corporate headquarters in Westborough, Mass. RBJ&P negotiated the 22,147 square foot lease for office space on the third floor of 2000 WestPark Drive, which is part of the Westborough Office Park. Virtusa Corporation (NASDAQ: VRTU) is a global information technology (IT) services company providing IT consulting, technology and outsourcing services. The company has over 4,000 employees worldwide and offices throughout the U.S., Europe and Asia. “We were pleased to advise Virtusa during the lease negotiations,” said John Lashar, partner, RBJ&P. “By implementing a ‘blend and extend’ agreement, we have simplified the administration of Virtusa’s corporate headquarters lease.” Mr. Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented Virtusa in the lease. The building’s landlord, BPG / Westborough Investors, LP, was represented by Jones Lang LaSalle. I-495 West Office Market About Virtusa Corporation Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States, the United Kingdom, the Netherlands and Hungary, and global delivery centers in India and Sri Lanka. www.virtusa.com 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. ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Advises WiTricity Corp. In New Corporate Headquarters Lease 20,000 SF Lease More Than Doubles Wireless Electricity Technology Company’s Headquarters BOSTON – August 4, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised WiTricity Corp. in a new 20,000 square foot lease for the company’s corporate headquarters. RBJ&P negotiated the lease for office and R&D space at 149 Grove Street in Watertown, Mass. WiTricity, an innovator in the wireless electricity technology field, will lease the entire two-story building. The company is more than doubling its previous location of approximately 8,000 square feet at 80 Coolidge Hill Road, also in Watertown. The RBJ&P team worked closely with WiTricity to determine the company’s needs for a new headquarters. The company wanted to remain close to MIT, due to its ties to the prestigious institute, and also had specific infrastructure requirements for its new location. In particular, WiTricity required access to first floor space that would facilitate the company’s research and development on electric cars that had to be moved in and out of the building. This required significant floor load capacity, a drive-in door and modest clear heights. The search centered around Watertown, Cambridge and other Inner Suburban areas. Options were limited because many office properties could not accommodate WiTricity’s requirements and many potential buildings in Cambridge had been converted to laboratory use. “WiTricity is a very unique company, a true trailblazer in wireless electricity,” said Eric Smith, senior vice president, Richards Barry Joyce & Partners. “After a comprehensive search, we determined that 149 Grove Street was an excellent fit for the company, as it meets WiTricity’s geographical objectives and is able to support the company’s R&D work.” Mr. Smith and Ron Friedman, senior vice president, of Richards Barry Joyce & Partners represented WiTricity Corp. in the lease. The building’s landlord, Bubblegum Realty Trust, was represented by Colliers Meredith & Grew. Market Statistics – Watertown Commercial Real Estate About WiTricity Corp. 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. ### ________________________________________________________________________________________________________ New Research From Richards Barry Joyce & Partners Highlights Greater Boston’s Industrial Real Estate Market “indSTATus – Summer 2010” Shows Mixed Results In Boston’s Warehouse, Flex And Manufacturing Properties BOSTON – July 21, 2010 – According to a new research publication from Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, Greater Boston’s industrial market displayed mixed indicators in the second quarter of 2010. The firm released the findings in indSTATus – Summer 2010,a research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings. The report finds that demand for each of the three property types is generally low and large increases in available space indicate that users expect to consolidate their use of space. Additionally, asking lease prices remain at historical lows for all industrial property types. “The first half of 2010 has been fairly stagnant in Greater Boston’s industrial market,” said Brendan Carroll, vice president of research, RBJ&P. “There are certainly positives to take from these results, as the numbers are not trending downwards. However, the mixed indicators make for difficulties in predicting future results.” In the Warehouse market, vacancy was down by 0.5% to 17.4%, after hitting a 14-quarter high in the first quarter. There was 306,000 square feet of positive absorption, and the asking lease rates went up minimally, by $0.03 to $5.52. The Flex market maintained vacancy of 18.8% during the quarter, with slight negative absorption of 30,000 square feet. Asking lease rates, which closed the quarter down $0.20 to $8.11, have fallen three straight quarters and are at the lowest levels in 15 years. Absorption in the Manufacturing market was at negative 50,000 square feet during the quarter, raising vacancy 0.5% to 17.1%. Absorption has been negative five of the past seven quarters in the manufacturing market, though all but one quarter of negative absorption has been minimal. Asking lease rates have fallen eight consecutive quarters and are at their lowest levels since 2004. For the quarter, asking lease rates were down $0.09 to $6.45. To request a copy of indSTATus – Summer 2010, please send an email to research@rbjrealestate.com. RBJ Research Publications About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Brokers 88,272 Square Foot Lease On Behalf Of Great Point Investors Netezza Corporation Signs Lease Renewal And Expansion For Corporate Headquarters; Brings 26 Forest Street (Marlborough, Mass.) To Full Occupancy BOSTON – July 20, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced an 88,272 square foot lease renewal and expansion the firm brokered on behalf of Great Point Investors at 26 Forest Street in Marlborough, Mass. The tenant, Netezza Corporation (NYSE: NZ), occupies office space on the building’s first, second and third floors. The company expanded its presence in the building by 20,483 square feet, having previously leased 67,789 square feet. Netezza is the global leader in data warehouse, analytic and monitoring appliances that dramatically simplify high-performance analytics across an extended enterprise. The lease brings 26 Forest Street to full occupancy. The three-story building is located in the Lake Williams Corporate Center. “Lake Williams Corporate Center offers the full range of features that tenants are looking for – central location, onsite and nearby amenities, highway access and a knowledgeable, flexible landlord,” said John Lashar, partner, Richards Barry Joyce & Partners. “While the park is particularly well suited to high tech companies, due to its state-of-the-art infrastructure, it is also very attractive to professional services companies, as it was originally built for a financial firm.” John Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented Great Point Investors in the transaction. The firm is the exclusive leasing agent for Lake Williams Corporate Center. Netezza Corporation was represented by Kevin Hanna of FHO Partners. 26 Forest Street And Lake Williams Corporate Center The building is part of Lake Williams Corporate Center, along with 62 Forest Street. The master-planned park totals 445,000 square feet of space on a 61-acre lakeside setting. The park is adjacent to the I-495 / Route 20 interchange and only a few miles from the Massachusetts Turnpike. Nearby amenities include restaurants, hotels, retail, daycare and the Marlborough / Westborough Boston Logan Airport Shuttle. I-495 West Office Market About Great Point Investors ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Represents AEW Capital Management And Griffith Properties In New 28,000 SF Lease SensAble Technologies Moves Headquarters To Ballardvale Office Park, Wilmington, Mass. BOSTON – July 13, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced a new 28,000 square foot lease the firm brokered on behalf of AEW Capital Management, L.P. and Griffith Properties, LLC, owners of Ballardvale Office Park (Wilmington, Mass.). Under the terms of the lease, SensAble Technologies will lease office and R&D space on the first floor of 181 Ballardvale Street. The location will serve as SensAble Technologies’ new corporate headquarters, with the company relocating from Woburn, Mass. SensAble Technologies is the leading developer of 3D touch-enabled (force feedback) solutions and technology that allow users to not only see and hear an on-screen computer application, but to actually “feel” it. “Ballardvale Office Park perfectly fits the needs of SensAble Technologies, with excellent amenities, easy highway access, flexibility for growth, and outstanding R&D infrastructure with attractive office finishes,” said James Lipscomb, senior vice president, Richards Barry Joyce & Partners. “Additionally, the ownership moved swiftly to meet SensAble’s timing and requirements by providing compelling lease terms and fully negotiating a lease within two weeks.” RBJ&P’s John Wilson, Brian McKenzie, and James Lipscomb represented the landlords in the transaction. SensAble Technologies was represented by Matt Daniels and Chris Lawrence of Colliers Meredith & Grew. About Ballardvale Office Park Each of the buildings in the park have undergone significant renovations, which selectively include new building exteriors, larger windows, state-of-the-art HVAC systems, new roofs and new landscaping, as well as improvements to common lobbies and fitness areas. Onsite amenities include a full-service cafeteria in Building One, with a large seating area, flat screen television monitor, and free WiFi access, a new fitness center with state-of-the-art equipment and locker room facilities, and banking facilities within the park. Market Statistics – Route 128 North About AEW Capital Management, L.P.
About Griffith Properties, LLC Since 1978, principals of Griffith Properties have owned over $2.0 billion of commercial properties in nearly 70 buildings totaling more than 11.0 million square feet. Brad Griffith founded the firm to take advantage of the opportunities created by the post-2001 market correction in commercial real estate, and to provide investors an attractive risk-adjusted return by investing in multiple asset classes. Through Funds I and II, Griffith Properties has acquired $220 million of assets consisting of 13 office and three industrial buildings, totaling 2.1 million square feet in the Greater Boston, Baltimore, and Washington, DC markets. For more information, please visit www.griffithproperties.com
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Greater Boston Office Market Remains Neutral During Q2 2010, Ends Streak Of Negative Absorption Richards Barry Joyce & Partners’ “officeSTATus – Summer 2010” Report Shows Market Had Slight Positive Absorption And Vacancy Increase BOSTON – July 8, 2010 – Greater Boston’s commercial office market ended a six-quarter skid of negative absorption in the second quarter of 2010, with flat absorption of 39,000 square feet, according to new research by Richards Barry Joyce & Partners, LLC (RBJ&P). The findings were released in the firm’s quarterly office report, officeSTATus – Summer 2010. According to the report, the Greater Boston office market experienced 39,000 square feet of positive absorption during the second quarter, in contrast to 204,000 square feet of negative absorption in Q1. The vacancy rate edged up by 0.2% to 16.0% as 504,000 sf was completed. Average asking lease rates were somewhat mixed across the market, with declines in most geographies and slight increases in a few premium locations. “The positive absorption we saw this quarter, however slight, was a welcome end to the year and half streak of negative absorption,” said Brendan Carroll, vice president of research, Richards Barry Joyce & Partners. “Combined with other economic indicators, it provides good reason to be cautiously optimistic.” officeSTATus is comprised of several sections. It begins with an executive summary with bulleted highlights of the quarter, followed by the “Economy & Real Estate” section, which places the quarter’s results into broader economic context. There are individual pages on each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – with findings specific to those areas. This quarter’s “Market Interesting” section takes a contrasting look (optimistic and pessimistic) at five critical issues in Greater Boston – the economy, population, employment, expense and mergers. The final page is comprised of a valuable resource – a single chart with all the pertinent market statistics (vacancy, market size, absorption, availability, and construction data) with historical data. Detailed graphics and charts throughout the report complement the text and highlight important information. To request a copy of officeSTATus – Summer 2010, please send an email to research@rbjrealestate.com. RBJ&P Research Publications About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________ NPV/Direct Invest Hires Richards Barry Joyce & Partners To Market Braintree Business Park Four-Building Park Consists Of 425,000 SF Of Premium Business Class Office, R&D And Warehouse Space BOSTON – July 1, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that the firm has been hired by NPV/Direct Invest, LLC as the exclusive leasing agent for the Braintree Business Park (Braintree, Mass.). Braintree Business Park consists of four buildings and offers 425,000 square feet of premium business class office, R&D and warehouse space. The buildings situated in a corporate setting are located in the heart of Braintree on Route 37, just 15 miles south of Boston. Nearby amenities include hotels, restaurants, day care, the South Shore Plaza and the 18-hole Braintree Municipal Golf Course. The Braintree MBTA station is located two miles away and there is easy access to the I-93/Route 3 split and Route 128. “We are very pleased to have been awarded the Braintree Business Park project by NPV/Direct Invest,” said Jay Nugent, Senior VP, RBJ&P. “The owner’s hands-on approach results in enhanced value to their properties and positive tenant relationships. We look forward to working with them on Braintree Business Park, which offers an excellent location and cost effective alternatives for an extremely wide variety of users.” The RBJ&P team assigned to the Braintree Business Park project includes partner Jonathan Varholak, senior vice president Jay Nugent and vice president Robert Byrne. There is immediate availability of 81,000 square feet of office/R&D space. According to RBJ&P’s “officeSTATus – Spring 2010”, the Route 128 South market has 11,965,000 square feet of office space, and is 19.0% vacant (as of the quarter ended March 31, 2010). About NPV / Direct Invest, LLC About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________ Richards Barry Joyce & Partners Brokers 51,000 Square Foot Lease Renewal On Behalf Of KBS Realty Advisors Crossbeam Systems Renews Lease For Two Floors Of 80 Central Street, Boxborough, Mass. BOSTON – June 23, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced a 51,000 square foot lease renewal the firm brokered on behalf of KBS Realty Advisors at 80 Central Street, Boxborough, Mass. Under the terms of the lease, Crossbeam Systems, Inc. will remain at 80 Central Street, which is part of Tech Central Boxborough along with 90 Central Street. Crossbeam, the leading provider of next-generation security platforms for high-performance networks, occupies the first and second floor of the building. 80 Central Street is Crossbeam’s corporate headquarters. “Crossbeam Systems’ decision to remain at 80 Central Street demonstrates the building’s appeal in this market,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “The building has a central location in the Massachusetts ‘high tech corridor’, excellent highway access, and the amenity package that many tenants look for. Additionally, with KBS Realty Advisors, the building has a landlord that understands the particular requirements for high tech tenants.” Richards Barry Joyce & Partners represented KBS Realty Advisors in the transaction and the firm is the exclusive leasing agent for 80 Central Street. Crossbeam Systems was represented by FHO Partners. 80 Central Street – Tech Central 80 Central Street has a distinctive three-story atrium, a 125-seat cafeteria and on-site fitness room with showers and lockers. The building is situated just off Route 2 and only minutes from I-495. There is currently 8,000 square feet of vacancy. I-495 North Office Market About KBS Realty Advisors About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Brokers Two New Leases On Behalf Of KBS Realty Advisors 80 Central Street In Boxborough, Mass. Attracts Two New Tenants – Applied Materials, Inc. Boston, MA – June 15, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented KBS Realty Advisors in two new leases with Applied Materials, Inc. and Sohn & Associates at 80 Central Street in Boxborough, Mass. Brian McKenzie, partner, and Robert Byrne, assistant vice president, of Richards Barry Joyce & Partners represented KBS Realty Advisors in the transactions. RBJ&P is the exclusive leasing agent for 80 Central Street. Details of the leases include: Applied Materials, Inc. signed a new lease for 6,109 square feet of office space on the second floor. Applied Materials, the global leader in Nanomanufacturing Technology solutions, is moving to 80 Central Street from Chelmsford, Mass. The company was represented in the transaction by Brian Tisbert of Colliers Meredith & Grew. “The I-495 North market has been active during the beginning of 2010,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “In particular, it has been Class A buildings such as 80 Central Street that have garnered the bulk of the attention. Tenants are gravitating towards buildings with a high level of amenities and good location, with either recent renovations or new construction that were made with tenants’ interest in mind.” 80 Central Street is a 149,528 square foot office building, located in the heart of one of the country’s most concentrated high technology corridors. Built in 1988 and fully renovated by 3Com Corporation in 1995, the building offers a high level of amenities, attractive design elements and robust building infrastructure, designed for high tech tenants. 80 Central Street has a distinctive three-story atrium, a 125-seat cafeteria and on-site fitness room with showers and lockers. The building is situated just off Route 2 and only minutes from I-495. There is currently 8,000 square feet of vacancy. I-495 North Office Market About KBS Realty Advisors About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Announces Two Appointments To Capital Markets Team Firm Strengthens Capital Markets Team, Increases Client Focus BOSTON – June 10, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, is pleased to announce two appointments to the firm’s capital markets team. Chris Skeffington and James Tribble have joined RBJ | Capital Markets as senior analysts. “We are pleased to be able to strengthen our firm with the addition of Chris and Jim,” said Robert Richards, president, RBJ&P. “The capital markets in commercial real estate are in the midst of great change during these economic times. Richards Barry Joyce & Partners’ approach of having a dedicated capital markets team that is fully integrated with the brokerage services teams provides clients with a best-in-class solution, and distinguishes the firm from the competition in a very critical way.” In their roles as senior analysts within RBJ | Capital Markets, Mr. Skeffington and Mr. Tribble will perform investment and valuation analysis, produce investment offering memorandums, support transaction execution activities, and provide clients with most current market analytics and trends. RBJ | Capital Markets is a dedicated team that is fully integrated into the operations of all other service lines within Richards Barry Joyce & Partners. The team, which is led by Frank Petz, provides a broad range of services including investment sales, equity placement, structured financing, and strategic advisory. Chris Skeffington – Prior to joining RBJ&P, Chris was an analyst at Anglo Irish Bank Corporation, working in the Commercial Real Estate Lending division. He performed valuation analyses, underwrote and restructured both new and existing loans, and was responsible for managing a loan portfolio of more than $1B in the aggregate. Chris earned a B.A. in Business Economics from Brown University. He volunteers with many youth initiatives, including the Woburn Boys’ and Girls’ Club and Woburn Youth Basketball. James Tribble – Jim has an extensive background as both a lender and capital markets intermediary. Before joining RBJ&P, he was an analyst with Eastdil Secured, a real estate investment banking company. He has also held capital markets roles at CB Richard Ellis and Wells Fargo Bank. Jim has a wealth of experience in analyzing and structuring the entire capital stack of a commercial real estate investment – senior and mezzanine debt, preferred and joint venture equity investments, and overall valuations. He earned a B.S. in Business Management from Babson College, graduating cum laude, and is a member of NAIOP. About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________ Richards Barry Joyce & Partners Advises Charles River Ventures In Lease Renewal RBJ&P Negotiates 13,576 SF Lease For Venture Capital Firm’s East Coast HQ BOSTON – June 3, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Charles River Ventures in a 13,576 square foot lease renewal for the venture capital firm’s east coast headquarters. RBJ&P negotiated the lease at 1000 Winter Street in the Bay Colony Corporate Center (Waltham, Mass.). Charles River Ventures, one of the nation’s leading early-stage venture capital firms, leases the building’s third floor. “Charles River Ventures works with some of the top start-up companies in the world, advising them on market strategy and helping them grow,” said Ron Friedman, senior vice president, RBJ&P. “We are pleased to have counseled them in their lease negotiations. Waltham is an excellent location for Charles River Ventures, as it places them close to many of the companies they work with.” The RBJ&P team of Jon Varholak, partner, and Ron Friedman, senior vice president, represented Charles River Ventures. The building’s landlord, Eastern Development, was represented by FHO Partners. “Jon and Ron provided us with exceptional expertise in this market. They made the entire process run smoothly and we could not be happier with the outcome,” said Jack Genest from Charles River Ventures. Office Market Statistics – Route 128 West About Charles River Ventures 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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Greater Boston’s Biotechnology Real Estate Highlighted In Research Publication From Richards Barry Joyce & Partners “bioSTATus – Summer 2010” Shows Space Constraint In Cambridge, Lab Market Outperforming Other Property Types BOSTON – May 26, 2010 – According to bioSTATus – Summer 2010, a new research publication highlighting Greater Boston’s biotechnology research-focused (“Laboratory”) real estate market, Laboratory space continues to outperform other property types in the area, while Cambridge, a leading worldwide biotech hub, is becoming increasingly typified by a lack of affordable, available options for tenants. bioSTATus is published twice a year by Richards Barry Joyce & Partners (RBJ&P), a full-service commercial real estate advisory firm based in Boston. The report finds that although Laboratory vacancy increased from 10.4 percent to 13.3 percent at the close of the two-quarter reporting period (March 31, 2010), it is still lower than vacancy for other property types, such as office and industrial buildings. Absorption was mixed in the major geographies, with positive absorption in Boston, negative absorption in the suburbs and flat in Cambridge. “Despite a slight increase in vacancy, demand for Lab space in greater Boston remains stable and well-positioned for an uptick in demand, potentially in the balance of 2010,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “This supports the findings that, for the first time, Massachusetts-based biotech companies raised more venture capital than their Silicon Valley counterparts.” About bioSTATus To request a copy of RBJ&P’s bioSTATus – Summer 2010, please send an email to research@rbjrealestate.com. RBJ&P’s Research Publications About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Negotiates 54,034 SF Lease For Coldwell Banker Residential Brokerage / NE Moves Mortgage, LLC / NRT Insurance Agency, Inc. Lease Is One Of The Largest Relocations In Route 128 West Submarket In 2010 BOSTON – May 19, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Coldwell Banker Residential Brokerage New England and its affiliated companies NE Moves Mortgage, LLC and NRT Insurance Agency, Inc. for a new 54,034 square foot lease at 52 Second Avenue in Waltham, Mass. The companies will occupy the entire third floor of 52 Second Avenue. The companies are moving from 1601 Trapelo Road, also in Waltham, making this one of the largest relocations in the Route 128 West submarket during 2010. “We are very excited to move our headquarters to this new location,” said Rick Loughlin, president of Coldwell Banker Residential Brokerage New England. “The modern space has allowed us to expand our sales associate training facilities and include state-of-the-art amenities for our marketing, relocation and information technology teams. Overall this new space will enable our sales management, operations teams, and our mortgage and insurance partners to work side-by-side, which wasn’t possible in the previous location.” “Richards Barry Joyce & Partners provides in-depth real estate counsel for a wide range of companies, including those in high tech, professional services and finance,” said Ron Friedman, senior vice president, RBJ&P. “Our key is to focus on the company’s business goals and determine how best to advance those through strategic and prudent real estate decisions. We are very fortunate to work with Coldwell Banker Residential Brokerage, NE Moves Mortgage, and NRT Insurance Agency, as they are top companies in their market.” Office Market Statistics – Route 128 West About Coldwell Banker Residential Brokerage 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. ### ________________________________________________________________________________________________________ Richards Barry Joyce & Partners Represents ING Clarion Partners In Multiple Leases At Waltham Woods Corporate CenterFirm Brokers Eight Leases Totaling 53,791 Square Feet BOSTON – May 6, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented ING Clarion Partners in eight leases at 890 Winter Street in Waltham Woods Corporate Center (Waltham, Mass.). The leases total 53,791 square feet of office space and have a mix of new leases and renewals. Tenants in the leases include companies in high technology, professional services and environmental services. The RBJ&P team of Jay Nugent,, Jonathan Varholak and Ron Friedman represented ING Clarion in each of the transactions. RBJ&P is the exclusive leasing agent for Waltham Woods Corporate Center. “Waltham Woods Corporate Center is considered by many to be the premier office park in suburban Boston,” said Jay Nugent, senior vice president, RBJ&P. “Its central location, bucolic setting and excellent amenities make it attractive to tenants, their employees and their customers. We are very pleased to have worked with a group of tenants that represent a broad range of industries.” Some of the tenants in the leases are: Abington, LLP; Avaya; Maxymillian Technologies, Inc.; Newburg & Company, LLP; Wellington Shields & Co. LLC; Windjammer Capital; and Yellowbook. Details of four of the transactions include: Avaya, a global leader in business communications, renewed its lease for 7,014 square feet on the first floor of 890 Winter Street. The communications company was represented by Newmark Knight Frank. Newburg & Company, LLP, an accounting and financial planning firm, signed a new lease at Waltham Woods Corporate Center. The firm will move from Wellesley to 11,520 square feet of office space on the 890 Winter Street’s second floor. Newburg & Company was represented in the transaction by Jones Lang LaSalle. Maxymillian Technologies, a comprehensive environmental services firm, signed a new lease for 4,023 square feet on the building’s second floor. The company, which is moving from another location within Waltham, was represented by Jones Lang LaSalle. Windjammer Capital, a national private investment firm, renewed its lease for 4,523 square feet of space on the first floor of 890 Winter Street. Windjammer was represented by Landmark Real Estate Partners. About Waltham Woods Corporate Center Office Market Statistics – Route 128 West About ING Clarion Partners 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. ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Releases Quarterly Research Report On Greater Boston’s Industrial Real Estate Market “indSTATus – Spring 2010” Shows Mixed Demand Among Greater Boston’s Industrial Property Segments: Warehouse, Flex and Manufacturing BOSTON – April 27, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, has released indSTATus – Spring 2010,a research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings. According to the report, demand was mixed in Greater Boston’s industrial property markets during Q1 2010. Nearly flat absorption was experienced among Flex and Manufacturing properties, while Warehouse facilities were impacted by more substantial negative demand. Asking lease rates were fairly stable across the board. “The first quarter of 2010 saw welcome signs of improvement in many areas of the economy, helping to boost business optimism and hiring expectations,” said Brendan Carroll, vice president of research, RBJ&P. “However, this optimism has not translated as yet to the industrial real estate market. This is due primarily to concerns about the sustainability of the improvements, as well as the fact that real estate generally lags behind the general market.” In the Warehouse market, vacancy hit the highest level in 14 quarters, increasing 0.4% to 17.9%. Absorption has been negative three of the past four quarters and it was down by 384,000 square feet during the first quarter. Asking lease rates were down slightly by $0.05 to $5.49. Absorption was slightly positive in the Flex market, edging up 50,000 square feet, with vacancy dropping by 0.5% to 18.8%. Asking lease rates remained fairly stable, decreasing only $0.04 to $8.31; however, they are 12% lower than rents just two quarters ago. The Manufacturing market had negative 50,000 square feet of absorption during the quarter, raising vacancy 1.2% to 16.6%. The vacancy rates may be somewhat misleading, given the high concentration of vacancy in older buildings. Asking lease rates, which were down by $0.23, closed the quarter at $6.54. To request a copy of indSTATus – Spring 2010, please send an email to research@rbjrealestate.com. RBJ Research Publications About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________ Richards Barry Joyce & Partners Brokers 100,000 SF Lease Renewal For TA Associates Realty Lease Will Keep 5 Dan Road, Canton, Mass. Fully Occupied By Dynagraf, Inc. BOSTON – April 13, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented TA Associates Realty in a 100,884 square foot lease renewal with Dynagraf, Inc. at 5 Dan Road, Canton, Mass. Dynagraf, a leading provider of printing, collateral and marketing materials, occupies the entire warehouse building. The location serves as Dynagraf’s headquarters, and also houses the company’s high-tech printing operations. “We are very pleased that Dynagraf has extended its lease for 5 Dan Road,” said John Lashar, partner, Richards Barry Joyce & Partners. “The facility is an exceedingly good fit for their operations, due to both its central location for Greater Boston and Providence and for housing Dynagraf’s state-of-the-art printing equipment. From this facility, they service some of the most well known customers in the country.” John Lashar, Jay Nugent, Paul Leone and Robert Byrne of Richards Barry Joyce & Partners represented TA Associates Realty in the transaction. Richards Barry Joyce & Partners is the exclusive leasing agent for 5 Dan Road. Dynagraf was represented by Cushman & Wakefield. Warehouse Market Statistics – Route 128 South About TA Associates Realty About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Greater Boston Office Market Experiences Slight Increase In Vacancy During First Quarter Of 2010 Vacancy Up 0.3% To 15.8% Across Greater Boston For Q1 2010, According To Richards Barry Joyce & Partners’ “officeSTATus – Spring 2010” BOSTON – April 7, 2010 – According to new research by Richards Barry Joyce & Partners, LLC (RBJ&P), Greater Boston’s commercial real estate office market experienced a slight uptick in vacancy during the year’s first quarter, increasing 0.3% to 15.8. The findings are included in the firm’s quarterly office report, officeSTATus – Spring 2010, which was released today. According to the report, the Greater Boston office market experienced 204,000 square feet of negative absorption in the first quarter of 2010. Asking lease rates for Class A office space in Boston’s Central Business District are $47.31 (down 11.1% over the last twelve months) and $23.56 in the Suburbs (down 7.9% over the last twelve months). In Boston’s Financial District, East Cambridge and Route 128 West – all considered bellwether areas – rents have stabilized during the past two quarters. “So far 2010 has shown a broadening of stabilization across larger parts of Greater Boston, particularly as compared to what we were experiencing during 2009 and the latter part of 2008,” said Brendan Carroll, vice president of research, RBJ&P. “In some of the submarkets that seem to still be lagging, it should be noted that the presence of fully vacant buildings may be distorting the actual picture.” This quarter, RBJ&P unveiled a new design for officeSTATus. Graphics and charts provide more information, yet with increased readability. A “Quick Look” graph on the front page provides and excellent summary of the figures many people are interested in (vacancy and asking lease rates by geography, with year-over-year comparison figures). The table on the final page, with all the pertinent market statistics – vacancy, market size, absorption and availability – now also includes construction information. The report begins with an executive summary with bulleted highlights of the quarter, followed by the “Economy & Real Estate” section, which places the quarter’s results into a broader economic context. Each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – has a page devoted to specific findings for that area. This quarter’s “Market Interesting” page gives an overview of “Ten Facts About Fully Vacant Buildings.” To request a copy of officeSTATus – Spring 2010, please send an email to research@rbjrealestate.com. RBJ&P Research About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________ Satcon Technology Corporation Expands Into 19,845 SF At 21-23-25 Drydock Avenue, In The Boston Seaport’s Emerging Innovation District Satcon Technology Corporation Is A Leading Provider Of Utility Scale Power Solutions For The Renewable Energy Market BOSTON – March 31, 2010 – Millennium Partners announced today that Satcon Technology Corporations has begun operations in its newly leased development and testing facility on the first floor of 21-23-25 Drydock Avenue in Boston’s Seaport District. Richards Barry Joyce & Partners, LLC brokered the 19,845 square foot lease on behalf of the landlord, CV Dry Dock Avenue LLC, which is a Millennium Partners venture through its Cargo Ventures affiliate. Cargo Ventures has a long-term ground lease on the building from the city of Boston. 21-23-25 Drydock Avenue is an 820,000 square foot building located in Boston’s Marine Industrial Park. “23 Drydock has exactly the space we needed to move our company forward,” said Daniel Gladowski, vice president of Satcon. “The location’s affordability helps our financial performance and Drydock Avenue’s waterfront location is a great and creative place to work.” Satcon Technology Corporation is a leading provider of utility scale power solutions for the renewable energy market. Joseph Larkin, a principal of Millennium Partners said “We are very happy to have Satcon Technology in our building; they are exactly the kind of innovative company that keeps Boston dynamic. At 21-23-25 Drydock Avenue tenants can really experience the Boston Waterfront, and, with the property’s unique capital structure, we can provide great space at a remarkably low cost.” Thomas Ashe, senior vice president, of Richards Barry Joyce & Partners represented the landlord in the lease. RBJ&P is the exclusive leasing agent for CV Dry Dock Avenue LLC’s portfolio, which consists of 21-23-25 Drydock Avenue. Satcon Technology Corporation was represented internally. Office Market Statistics – Boston’s Seaport District About Millennium Partners About Satcon Technology Corporation About Richards Barry Joyce & Partners ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Represents TA Associates Realty In 147,578 SF Lease Renewal And Major Expansion Owens & Minor Triples Its Presence At 20 Freedom Way, Franklin, Mass.; Building Maintains Full Occupancy BOSTON – March 30, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it brokered a 147,578 square foot lease renewal and expansion on behalf of TA Associates Realty at 20 Freedom Way, Franklin, Mass. The lease brings the building to full occupancy. TA Associates Realty signed a lease with Owens & Minor, a leading distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company. The Fortune 500 company renewed its lease on 47,459 square feet and expanded its presence in the warehouse building by an additional 100,119 square feet, more than tripling its original footprint. “20 Freedom Way is an excellent fit for Owens & Minor and we are very pleased that the company decided to commit long-term to the building,” said John Lashar, partner, Richards Barry Joyce & Partners. “The building’s proximity to the region’s major highway, modern features and clear heights make it one of the more sought-after facilities in the market.” 20 Freedom Way is a state-of-the-art, high bay warehouse building, featuring 36’ high ceiling and ESFR sprinkler systems. The building is located in a master planned industrial park and offers fast access to I-495. RBJ&P is the exclusive leasing agent for 20 Freedom Way. John Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented TA Associates Realty in the transaction. Owens & Minor was represented by Jackson & Cooksey. Warehouse Market Statistics – I-495 South About TA Associates Realty About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Completes New 25,952 SF Lease At 90 Central Street in Boxborough, MA BOSTON – March 5, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it completed a new 25,952 square foot lease transaction at 90 Central Street, Boxborough, Mass. The tenant in the lease is Qualcomm Incorporated. Qualcomm (NASDAQ: QCOM), a leader in developing and delivering innovative digital wireless communications products and services, will occupy office space on the building’s first floor. The company is moving to 90 Central Street from its current location in Concord, Mass. The 90 Central Street building, which is owned by Piedmont Office Realty Trust, Inc., was constructed in 2001 as a build-to-suit for Agilent Technologies, and consists of three floors and 175,000 square feet of office space. Situated just off Route 2 and a few minutes away from I-495, the building is located in Greater Boston’s “tech corridor.” The building has 34,500 square feet of space available for lease. The Richards Barry Joyce & Partners team of John Wilson, Brian McKenzie, James Lipscomb and Robert Byrne represented Piedmont Office Realty Trust, Inc. in the transaction. RBJ is the exclusive leasing agent for 90 Central Street. The tenant was represented by Stephen Cook and Jack Kerrigan of Grubb & Ellis. Office Market Statistics – I-495 North About Piedmont Office Realty Trust, Inc. About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Chase Corporation Leases Office And Laboratory Building In Westwood Richards Barry Joyce & Partners Negotiates Long-Term 20,200 SF Lease On Behalf Of Leading Manufacturing Company BOSTON – February 17, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, announced today that it negotiated a new 20,200 square foot lease for Chase Corporation (NYSE Amex: CCF) at 295 University Ave., Westwood, Mass. Chase Corporation, a global manufacturer of protective tapes and coatings, signed a long-term lease for the entire single-story building. The new facility will house R&D, selling and administrative resources from the company’s former Albany, NY and Taunton, Mass. locations, as well as personnel from its Randolph, Mass. facility. The building consists of office and laboratory space. “Our new Westwood operations center has allowed us to consolidate three locations into one, which will provide both significant cost savings and increased operational efficiency,” said Adam P. Chase, president and chief operating officer, Chase Corporation. “The new facility is an exceptional fit for our needs and we appreciate the efforts from Richards Barry Joyce & Partners in helping to secure this location.” Richards Barry Joyce & Partners’ John Lashar, partner, Paul Leone, senior vice president, and Jay Nugent, senior vice president, represented Chase Corporation in the transaction. The building’s landlord, BEC 1999 Development Trust, was represented by Colliers Meredith & Grew. Market Statistics – Route 128 South About Chase Corporation About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Negotiates New 21,148 SF Lease For MRV Communications Networking Company Leases Space At 300 Apollo Drive In The Chelmsford Office & Research Park BOSTON – February 11, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a new 21,148 square foot lease for MRV Communications at 300 Apollo Drive in Chelmsford, Mass. MRV Communications, which is moving from Littleton, Mass., has leased office space on the building’s third floor. The location will house members of the networking company’s engineering, operations and customer service teams. 300 Apollo Drive is located in the Chelmsford Office & Research Park. The building offers a full-service cafeteria, fitness facility and close proximity to I-495 and Route 3. “We worked very closely with MRV Communications to determine their real estate needs, based on their overall business objectives,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “After a broad review of options in the market, we were pleased to help them locate at 300 Apollo Drive. The building’s amenities and location are a very good fit for the company.” Richards Barry Joyce & Partners’ Brian McKenzie, partner, John Wilson, partner, and James Lipscomb, senior vice president, represented MRV Communications in the transaction. The building’s landlord, Chelmsford Associates, LLC, was represented by Lincoln Property Company. Office Market Statistics – I-495 North About MRV Communications 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. ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Brokers Two New Leases Totaling 29,092 SF On Behalf Of CrossHarbor Capital Partners LLC New Leases In Andover, Mass. Indicate Appeal Of River Place At I-93 BOSTON – February 3, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, announced today that it negotiated two new leases on behalf of CrossHarbor Capital Partners at River Place at I-93, located in Andover, Mass. The leases, which total 29,092 square feet, were signed with Casa Systems, Inc. and uReach Technologies, Inc. Casa Systems, a leader in next generation cable edge technology, signed a lease for 16,086 square feet of office and R&D space on the building’s first floor. The company is relocating its corporate headquarters from 10 New England Business Center in Andover. The new lease represents an approximate expansion of 5,000 square feet. Casa Systems was represented in the transaction by NAI Hunneman. uReach Technologies, a leading provider of converged communications solutions for wireless, wireline and broadband carriers, leased 13,006 square feet of office and R&D space, also on the building’s first floor. The technology company is relocating from 200 Bulfinch Drive in Andover. uReach was represented in the transaction by Robert Byrne, assistant vice president, of Richards Barry Joyce & Partners. “River Place at I-93 is a very attractive location in the I-495 market, with its excellent location, superb highway visibility and amenities,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “The building improvements made by CrossHarbor Capital Partners and, as importantly, their ability to react quickly to the tenants’ requirements in an unstable economic environment were key contributors to the success of attracting these two tenants.” Brian McKenzie and Robert Byrne of Richards Barry Joyce & Partners represented CrossHarbor Capital Partners in the leases. RBJ is the exclusive leasing agent for River Place at I-93. About River Place at I-93 Nearby amenities include restaurants, hotels, and several day care providers. Built in 1985, River Place at I-93 is undergoing extensive renovations, including an updated three-story atrium lobby, upgraded loading docks and HVAC systems, and improved landscaping and parking lot surface. Office Market Statistics – I-495 North About CrossHarbor Capital Partners 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. ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Releases New Research Reports On Greater Boston’s Industrial And Flex Properties Reports Show Slight Improvement In Warehouse And Manufacturing Properties; Continued Decline In Flex Market BOSTON – January 26, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, has released its two quarterly research reports on warehouse, manufacturing and flex properties: indSTATus – Winter 2010 and flexSTATus – Winter 2010. Richards Barry Joyce & Partners’ indSTATus report details the industrial market, consisting of warehouse and manufacturing property types. During the fourth quarter of 2009, both property types saw positive absorption and slight decreases in vacancy. Asking lease rates in each market, however, continued to drop. In the warehouse market, there was positive absorption of 187,000 square feet, which pushed the vacancy rate down slightly by 0.3% to 17.5%. Asking lease rates for warehouse properties closed the quarter down slightly (by $0.03 to $5.54) and are now 10% below levels seen six quarters ago. The manufacturing market had a minimal amount of positive absorption (36,000 square feet) and vacancy decreased by 0.2% to 15.4%. Asking lease rates, which have fallen 20% in six quarters, were down $0.16 to $6.77. The Greater Boston flex market, covered in the flexSTATus report, experienced 309,000 square feet of negative absorption in Q4 2009. Vacancy increased 1.1%, closing the quarter at 20.3%, and asking lease rates dropped by $0.19 to$8.54. For the year, tenants vacated more flex space in 2009 than in any other year since 2002. “In the property types covered by indSTATus and flexSTATus – warehouse, manufacturing and flex – there continues to be a tale of two property types,” says Brendan Carroll, vice president of research for Richards Barry Joyce & Partners. “Not surprisingly, the vast majority of activity is concentrated in newer properties, those with better locations and, in the case of warehouses, those with higher clear heights. This trend will likely continue, as commercial real estate follows the general economy into recovery.” To request a copy of indSTATus – Winter 2010 or flexSTATus – Winter 2010, please send an email to research@rbjrealestate.com. RBJ Research Publications About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
Richards Barry Joyce & Partners Brokers Five Of Top Six Cambridge Leases In 2009 Firm Brokers Leases Totaling In Excess Of 600,000 SF Of Lab And Office Space BOSTON – January 19, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that the firm brokered five of the top six leases in the city of Cambridge, Mass. during 2009 – a group of transactions that totaled 624,963 square feet of laboratory and office space. “Cambridge was without a doubt the most stable submarket in an otherwise very tumultuous year for Greater Boston commercial real estate,” said Steven Purpura, partner at Richards Barry Joyce & Partners and head of the firm’s Cambridge advisory group. “East Cambridge, in particular, stands out as the world’s preeminent cluster for cutting edge technology and life sciences research and development.” Fitting for its reputation as a biotechnology and life sciences leader, Cambridge was dominated by laboratory leases in 2009. Of the top six leases in Cambridge, five were for laboratory and the sixth was for office space – an 84,373 square foot lease renewal and expansion for ITA software. Of the city’s top ten leases, eight were completed by biotechnology companies. Following are details of Richards Barry Joyce & Partners’ top Cambridge leases. Richards Barry Joyce & Partners’ Cambridge advisory group includes Steve Purpura, Robert Richards, Jonathan Varholak and Eric Smith. Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) signed a 292,000 square foot lease renewal at 40 Erie Street and 200 Sidney Street, for laboratory and office space. Richards Barry Joyce & Partners represented the landlord, BioMed Realty Trust, Inc. Vertex was represented by CB Richard Ellis. Vertex Pharmaceuticals Incorporated is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) signed a lease extension and expansion at 300 Third Street. The company expanded its presence by 33,022 square feet and now occupies 95,410 square feet at the location. Alnylam, a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi, was represented by Richards Barry Joyce & Partners. The landlord, Alexandria Real Estate Equities, Inc., was represented internally in the transaction. ITA Software, Inc., the leader in developing innovative solutions for the travel industry, signed Cambridge’s largest office lease in 2009 – an 84,373 square foot lease renewal and expansion at 141 Portland Street. The software company expanded its footprint at the building by 30,046 square feet. Richards Barry Joyce & Partners represented ITA Software and the building’s landlord, Intercontinental Real Estate Corporation, in the transaction. Broad Institute signed a new lease for 79,863 square feet of laboratory space at 301 Binney Street. Richards Barry Joyce & Partners represented the building’s landlord, BioMed Realty Trust, Inc. CB Richard Ellis represented the Broad Institute. The Forsyth Institute signed a new headquarters lease at 245 First Street. The lease totals 73,317 square feet of laboratory space. Richards Barry Joyce & Partners represented the building’s landlord, Equity Office Properties. Forsyth, the world’s leading independent organization dedicated to scientific research and education in oral health and related biomedical sciences, was represented by Cushman & Wakefield.. Cambridge Market Statistics 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. ### ________________________________________________________________________________________________________ Standard Electric Supply Co., Inc. Renews Headquarters Lease In Wilmington, Mass. Richards Barry Joyce & Partners Negotiates 43,367 SF Lease On Behalf Of Electrical Distributor BOSTON – January 12, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a 43,367 square foot lease renewal for Standard Electric Supply Co., Inc., at 14 Jewel Drive, Wilmington, Mass. 14 Jewel Drive is Standard Electric’s corporate headquarters. The company leases office and warehouse/distribution space on the building’s first and second floors. Standard Electric is one of the largest electrical distributors in New England and one of the top 50 in the nation. “Our headquarters in Wilmington is an excellent fit for Standard Electric,” said Ross Army, D.C. Operations Manager, Standard Electric Supply Co., Inc. “This location also includes Standard Electric’s distribution center, which helps us to maintain efficient operations and continue to offer our high level of customer service.” Richards Barry Joyce & Partners’ Brian McKenzie, partner, and James Lipscomb, senior vice president, represented Standard Electric in the transaction. The building’s landlord, Howland Development Company, was represented internally. Warehouse Market Statistics – Route 128 North About Richards Barry Joyce & Partners, LLC ### ________________________________________________________________________________________________________
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