Avici Systems Expands Presence in I-495 North

BILLERICA, MA-Suburban Boston’s technology market is again showing signs of life, as evidenced by a 24,000-sf lease here to Avici Systems. The firm, which provides core routing services for data networks, is taking the space at Building Four of 101 Billerica Ave., owned by BBC Equity Partners.

“Avici Systems is one of the fastest growing IP solutions providers and needed more space to expand,” explains NAI Hunneman Commercial Co. SVP James Boudrot, who negotiated lease terms for the tenant with colleague Stephen James following a space search. The answer for Avici was not far away, says Boudrot, with the firm able to utilize real estate in the same office park as its headquarters. Avici Systems is based in Building Two.

Several aspects of the complex appeal to Avici Systems, relays Boudrot, including the location in the Interstate 495 North office submarket. The park is situated just off Exit 37 of I-495, two stops away from Route 3. The property is also accessible via a nearby commuter rail line that provides transit into Boston and Lowell.

Avici Systems is one of several technology firms who have expanded in the I-495 North corridor this year. After leading Massachusetts as a hub for Internet, software and other high-tech activity to begin the decade, I-495 North was crippled by the subsequent recession, with vacancies ballooning into the mid-30% range. The difficulties lingered until recently, but I-495 has seemingly begun its recovery. According to the latest figures from Richards Barry Joyce & Partners, the 14-million-sf office market has dropped its vacancy to 26.3% after adding 363,000 sf of positive absorption in the past four quarters. That rate is still, however, the highest vacancy of any office submarket reviewed by RBJ, and well above the overall suburban average of 18.4%.