NextWorth Solutions Nearly Doubles HQ Space in Move to 900 Technology Park Dr
Campanelli has signed NextWorth Solutions to a new, 10,500 square foot lease at 900 Technology Park Drive in Billerica, Mass.
NextWorth Solutions will be almost doubling the size of its corporate headquarters from the 5,600 square feet it currently occupies at 700 Technology Park Drive, which is also owned by Campanelli. NextWorth, a leader in consumer electronics upgrades and trade-ins, will move to the second floor of 900 Technology Park Drive in October.
NextWorth Solutions was represented by Victor Galvani of Parsons Commercial Group, Inc. in this lease transaction. The Richards Barry Joyce & Partners team of Brian McKenzie, John Wilson, James Lipscomb and Emma Geldmacher worked with Campanelli’s Peter Brown, Director of Leasing, and Mark Carroll, Senior Director of Asset Management. RBJ&P is the leasing agent for 700 and 900 Technology Park Drive.
700 and 900 Technology Park Drive were part of an eight-building portfolio purchased in 2010 by a joint venture partnership between Campanelli and Dallas-based TriGate Capital. The buildings are located directly off Route 3, within five miles of both I-495 and Route 128.
Situated in a mature park setting, the buildings comprise a total of more than 87,000 SF of office space. 700 Technology Park offers a fitness center and the park features daycare and a hotel. 700 and 900 Technology Park Drive can accommodate tenants looking for space from 2,000 to 20,000 SF.
After acquiring the buildings, Campanelli redesigned the lobbies, ceilings, lighting and floor finishes to the common areas, upgraded finishes to the common fitness facility, and upgraded the parking lots and landscaping.
According to research by RBJ&P, the Route 128 North submarket consists of 25,789,000 square feet of office space and was 17.9% vacant, as of the quarter ended June 30, 2012. [source: Richards Barry Joyce & Partners’ “officeSTATus – Summer 2012”]. Tenants have absorbed 1.5 million square feet in the submarket over the past ten quarters, making it one of the best such performing areas within the market in the decade.
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