The 495/Mass Pike market is located between Boston and Worcester and surrounds the intersection of the Mass Pike (I-90) and Route 495, Boston’s outer beltway. 495/Mass Pike towns include Bolton, Framingham, Holliston, Hopkinton, Hudson, Marlborough, Natick, Northborough, Shrewsbury, Southborough, Sudbury, and Westborough. The submarket’s location offers easy access to Route 128 and Boston, as well as offering the market’s large employers access to the faster growing more affordable communities in along 495 and in Worcester County for employees. The submarket has a very diverse tenant base including Staples, Boston Scientific, Genzyme, Bose, TJX, and EMC, and Framingham and Natick offer one of the most prominent retail corridors in Greater Boston.
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The largest lease transaction of the second quarter was a renewal executed by 3Com Corporation. The company renewed its lease at 350 Campus Drive in Marlborough, its regional headquarters, for ten years with a 35,500-square-foot contraction and will now occupy 132,798 square feet in the building. Eaton Vance, the building’s landlord, had been marketing the space since the fourth quarter of 2008 in the event that 3Com relocated elsewhere. Other significant lease transactions that contributed to occupancy gains during the quarter included: New Energy Advisors relocated into 25,671 square feet at 300 Nickerson Road in Marlborough; IDG leased 18,517 square feet at 492 Old Connecticut Path in Framingham; and MetroWest Medical Center relocated from its office at One Clarks Hill Corporate Center into 18,872 square feet at 100 Nickerson Road in Marlborough.
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LEASE
3Com Corporation
350 Campus Drive, Marlborough
132,798 s.f.
Renewal with contraction
New Energy Advisors
300 Nickerson Road, Marlborough
25,671 s.f.
Relocation
Framingham Heart Study
73 Mt. Wayte Avenue, Framingham
21,216 s.f.
Renewal
Arrow Electronics, Inc.
400 Donald J Lynch Boulevard, Marlborough
19,224 s.f.
Renewal
MetroWest Medical Center
100 Nickerson Road, Marlborough
18,872 s.f.
Relocation
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