CITYBIZLIST – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that Vivint Solar has completed an 18,187-square-foot (sf) industrial lease renewal at 53 Brigham Street, located in Brigham Business Park in Marlborough, MA. The transaction represents a 10,450-sf expansion Vivint Solar, the second largest residential solar provider in the U.S.
Bill Sullivan, a Vice-President in Avison Young’s Boston office, represented the landlord, an affiliate of Ivy Realty, a Greenwich, CT-based investment company. Coldwell Banker Commercial represented Vivint Solar.
“The space and location work well for Vivint Solar’s needs, and ownership is delighted that Vivint has grown its presence and extended its commitment to the property,” comments Sullivan.
Brigham Business Park comprises 169,230 sf of office, flex/R&D, industrial, warehouse, distribution and manufacturing space within three high-bay buildings located at 19, 41 and 53 Brigham Street.
In December 2014, the affiliate of Ivy Realty purchased the park from First Colony Development for $14.5 million. Avison Young’s Boston office represented First Colony Development in the sale.
Earlier in December 2014, AT&T signed a 10-year, 21,106-sf industrial lease at 19 Brigham Street. In addition to Vivint Solar and AT&T, park tenants include Carquest Auto Parts, Fastenal Company and Ambri, Inc.
“As demonstrated by both Vivint Solar and AT&T’s long-term commitments to the location, Marlborough is considered a top choice for companies seeking access to a large pool of knowledge workers and an easy commute to the region’s most desirable residential areas,” adds Tim Cummings, Executive Director of the Marlborough Economic Development Corporation. “The city offers an impressive portfolio of commercial real estate with one of the largest inventories of high-quality, affordable office and industrial properties anywhere in greater Boston.”
Ivy Realty, www.ivy-realty.com, is a fully integrated real estate operating company with over 5.7 million square feet of commercial property investments. The firm offers asset and property management, construction and leasing services in the Northeastern corridor of the U.S., including New York and New Jersey, and in Southeast Florida. The firm is headquartered in Greenwich, CT.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,700 real estate professionals in 62 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
This article originally appeared here.