Solomon Pond Leases Up 140,000 SF

MARLBOROUGH, MA-Solomon Pond Park, the 700,000-square-foot office and R&D/flex campus, is leasing up 140,466 square feet. Three companies–AREVA, Blue Cod Technologies, Inc., and Park Place International–are inking four leases in the park, with Blue Cod double-dipping for space.

AREVA–the nuclear power supplier–is filling up the third floor of 400 Donald Lynch Blvd. with its 43,709-square-foot lease. The Paris-based company was represented by Robert Walles and Bill Behr of CB Richard Ellis. Park Place International is taking 26,975 square feet of office and light manufacturing at 500 Donald Lynch Blvd., leaving behind Uxbridge, MA for their new digs here. Handling the lease for the IT equipment servicer was Cushman & Wakefield’s Kevin Hanna.

Blue Cod Technologies, Inc. is doubling up with two leases in separate buildings on campus, signing a new lease and expanding another. The expansion of 8,800 square feet at 295 Donald Lynch Blvd. brings the software company up to roughly 40,000 square feet, and signing a new office lease at 500 Donald Lynch Blvd. of 29,763 square feet. Blue Cod was repped by Hank Amabile and John Coakley of Grubb & Ellis. John Lashar, Brian McKenzie and Paul Leone of Richards Barry Joyce & Partners represented Soloman Pond’s owner BGI Holdings II, LLC in all four deals as the exclusive leasing agent of the park.

Solomon Pond Park is located on a 163-acre site right at the interchange of interstates 495 and 290, just northwest of Marlborough proper. The owner is a joint venture between Great Point Investors and Nordic Properties. C&W vacancy has shown a marked decline over the last two years, while rents have slowly risen to the low $20 per square foot range.

Mindful of the down-trending warnings, the suburban markets outside the Boston-metro have buoyed themselves recently with mid-level leases, keeping vacancy low to weather the storm, such as in Lowell.