The Gutierrez Company Announces 100,000 SF Build-to-Suit Office Development For Red Hat, Inc.

Development In Westford, Mass. More Than Doubles Red Hat’s Presence In Westford Technology Park West

BOSTON – April 11, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented The Gutierrez Company in the signing of a build-to-suit development and long-term lease with Red Hat, Inc. (NYSE: RHT) in Westford Technology Park West (Westford, Mass.).

Under the terms of the agreement, The Gutierrez Company will expand the existing 75,000 square foot building at 314 Littleton Road by an additional 100,000 square feet.  The new addition will consist of four floors of office space.  Construction is set to begin immediately, with completion expected within twelve months.

Red Hat, the world’s leading open source solutions provider, signed a long term lease for the building, more than doubling its current presence in the park.  The Westford office is the global technology company’s engineering hub.  Based in North Carolina, Red Hat has offices throughout the U.S. and around the globe.

“This is a wonderful sign of Red Hat’s commitment to the town of Westford, which continues to be an excellent destination for technology companies,” said Jason Denoncourt, Project Manager of The Gutierrez Company.  “We are looking forward to working closely again with Red Hat to ensure that their unique requirements are met in this development.

“The town of Westford was a critical participant in this process and we greatly appreciate their efforts in helping to increase Red Hat’s local presence,” continued Mr. Denoncourt.  “This project has been a highlight of The Gutierrez Company’s 20 year relationship with the town of Westford.”

John Wilson, Brian McKenzie and James Lipscomb of Richards Barry Joyce & Partners represented The Gutierrez Company in the transaction.  Red Hat was represented by Jones Lang LaSalle.

Westford Technology Park West
The new building will be the third building completed in the Westford Technology Park West.  Gutierrez developed the first building, consisting of 175,000 square feet, for NetScout Systems, Inc. in 2001, followed by Red Hat’s 75,000 square foot building.  Four more sites, totaling an additional 625,000 square feet of space, are permitted for development by the town of Westford.

About the Market – I-495 North Office
According to research by RBJ&P, the I-495 North submarket consists of 14.9 million square feet of office space and was 22.1 percent vacant, as of the quarter ended March 31, 2012.

About The Gutierrez Company
Incorporated in 1978, The Gutierrez Company provides a full range of real estate development services including site selection, financing, master planning, design coordination, project management and supervision, and property management. Through our wholly-owned subsidiary, Gutierrez Construction Co., Inc., we also provide complete, pre-construction consulting, construction management, and general contracting services.

The Gutierrez Company has developed over 9 million square feet of office, office/R & D, retail, residential, and industrial space in suburban Boston and southern New Hampshire for various regional, national, and international clients and tenants. We currently own and manage a building portfolio of over 4 million square feet of space. Additionally, the company controls and/or owns land to develop an additional 10 million square feet of space.  www.gutierrezco.com

About Red Hat, Inc.
Red Hat, the world’s leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, NC with more than 70 offices spanning the globe. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with cloud, virtualization, management, storage and service-oriented architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.  Follow us on Twitter at @RBJ_Partners.

Campanelli Welcomes Gentex Corporation And AlliedBarton Security Services To 700 Technology Park Drive, Billerica, Mass.

Richards Barry Joyce & Partners Brokers Leases On Behalf Of Campanelli

BOSTON – April 4, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it brokered two leases on behalf of Campanelli at 700 Technology Park Drive in Billerica, Mass.  The leases, totaling nearly 9,000 square feet, were signed with Gentex Corporation and AlliedBarton Security Services.

The leases are the fifth and sixth signed at the building since it was acquired by Campanelli in September 2010.  700 Technology Park Drive and nearby 900 Technology Park Drive were part of an eight-building portfolio purchased by a joint venture partnership between Campanelli and Dallas-based TriGate Capital.

“We have been very pleased with the high level of activity at 700 & 900 Technology Park Drive,” said James Lipscomb, senior vice president, Richards Barry Joyce & Partners.  “Campanelli takes a proactive approach to working with its tenants through space planning, project management, and construction management.  This level of partnership with tenants has had direct bearing on the success we’ve had in bringing 700 Technology Park Drive to 93 percent occupancy and advancing several other lease discussions at 900 Technology Park Drive.”

The Richards Barry Joyce & Partners team of Brian McKenzie, John Wilson, James Lipscomb and Emma Geldmacher worked with Peter Brown, Director of Leasing, and Mark Carroll, Senior Director of Asset Management at Campanelli.  RBJ&P is the exclusive leasing agent for 700 and 900 Technology Park Drive.

Details of the leases include:

Gentex Corporation leased 6,450 square feet of office space on the building’s first floor, for a branch office.  The company, which is moving from 4 Federal Street in Billerica, was represented by Joseph Doyle and Shawn McDonough of Cresa.  Gentex Corporation, a privately-held, family-owned company with a product development and manufacturing history that spans more than 100 years, is a global provider and partner of choice for personal protection and situation awareness products, systems and platforms.

AlliedBarton Security Services, the largest American-owned security officer services company, signed a new lease for 2,339 square feet on the building’s second floor.  The company is moving to Billerica from Lowell, Mass.  AlliedBarton was represented by James Lipscomb and Emma Geldmacher  of Richards Barry Joyce & Partners.

About 700 and 900 Technology Park Drive
700 and 900 Technology Park Drive 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 immediately began significant renovations.  The buildings feature redesigned lobbies, new ceilings, lighting and floor finishes to the common areas, upgraded finishes to the common fitness facility, as well as upgrades to the parking lots and landscaping.

About the Market – Route 128 North Office
According to research by RBJ&P, the Route 128 North submarket consists of 25,789,000 square feet of office space and was 17.5% vacant, as of the quarter ended March 31, 2012.

About Campanelli
Established in 1947, Campanelli is a full-service commercial real estate development, acquisition and construction company with extensive experience in the industrial, office, medical, warehouse/distribution and retail markets. To date, Campanelli has developed over 20 million square feet of commercial real estate property in New England and down the Eastern United States. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions.  It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly-regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural and engineering design, building construction and facilities and property management.  With a cohesive development team that has worked together for more than sixty years, Campanelli can assure its clients that every aspect of a project is directed, monitored and controlled by Campanelli.  For more information, visit www.campanelli.com; new website coming soon.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.  Follow us on Twitter at @RBJ_Partners.

RBJ Releases “officeSTATus — Spring 2012″, Shows Strong Quarter For Greater Boston Office Market

Greater Boston Office Market Posts Strong Quarter to Start 2012

Findings Detailed In Richards Barry Joyce & Partners’ “officeSTATus – Spring 2012” Research Publication

BOSTON – April 2, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P) has released officeSTATus – Spring 2012, the firm’s quarterly research publication detailing the condition of Greater Boston’s commercial real estate office market.

According to the firm, the market posted a very strong quarter to start the year, with overall vacancy dropping slightly to 15.3 percent.  In the fourth consecutive quarter of positive absorption, tenants took more than 963,000 square feet of space off the market, the highest quarterly total since 2007.

During the past four quarters, 85 percent of the roughly three million square feet of positive absorption occurred in five geographies – Waltham, Route 128 North, Cambridge and Class A Financial District and Back Bay space.  Two of those submarkets – Back Bay and East Cambridge – have each seen Class A asking lease rate spikes of more than 20 percent since 2010.

“During our current four quarter stretch of positive absorption, each quarter has boasted higher absorption rates than the preceding period, indicating strong underlying tenant fundamentals,” said Brendan Carroll, senior vice president, Richards Barry Joyce & Partners.  “Combined with other economic indicators, such as declining unemployment figures locally and a very strong quarter in the stock markets, these findings provide reason for optimism in near term absorption expectations.”

About officeSTATus
One of the market’s leading sources for accurate statistics and insightful analysis, officeSTATus is designed to deliver practical information in a convenient format to enable better decision making.  The quarter’s most significant findings are presented on the first page, in a reader-friendly, bulleted list. The “Economy & Real Estate” section places the quarter’s results into broader economic context.  There are individual pages on each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – with findings specific to those areas.

This quarter’s “Market Interesting” section looks at the dynamic growth in Boston’s Seaport District and compares it with other dramatic growth areas in the region’s recent history.  The final page is comprised of a valuable resource – a single chart with all the pertinent market statistics (vacancy, market size, absorption, availability, and construction data) with historical data.

To request a copy of officeSTATus – Spring 2011, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications
In addition to officeSTATus, RBJ&P publishes nine other quarterly research reports:  indSTATus, which focuses on Industrial property types (manufacturing, warehouse and flex buildings) and individual marketSTATus reports on eight crucial sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year.  In total, the firm produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.  Follow us on Twitter at @RBJ_Partners.

RBJ honored by CBA with “Suburban Office Lease of 2011” award, for representing DivcoWest in a 262K SF lease with Acme Packet

Richards Barry Joyce & Partners is pleased to announce that the firm was honored at the Commercial Broker Association’s annual “Achievement Awards” dinner last week.  RBJ received the “Suburban Office Lease of 2011” award, for representing landlord DivcoWest in a 262,000 square foot lease with Acme Packet Company at 100 Crosby Drive in Bedford, Mass.

Congratulations go to RBJ’s John Wilson, Brian McKenzie and James Lipscomb, who represented DivcoWest, as well as to Bradford Spencer of Grubb & Ellis, who represented Acme Packet.

“The DivcoWest / Acme Packet lease was a terrific project to be involved with and we’re pleased to see it get recognized in this fashion by the Commercial Brokers Association,” said John Wilson, partner at RBJ.  “This was a multi-dimensional project involving one of the state’s fast-growing high tech companies and one of the more proactive landlords in the region.  Ultimately, it was a collaborative process among all parties that helped bring the project to a successful close.”

Brookwood Welcomes Potpourri and DGI, Signing Leases for 110,923 Square Feet at Brookwood Business Center

Brookwood Welcomes Potpourri and DGI, Signing Leases for 110,923 Square Feet at Brookwood Business Center

(Beverly, MA) – March 7, 2012 – Brookwood Financial Partners, LLC (“Brookwood”), a leading real estate investment and asset management company, announced today that it recently executed leases for 110,923 square feet at the Brookwood Business Center, a 448,616 square foot office and flex park located in Billerica and Tewksbury, Massachusetts.  Brookwood is pleased to welcome Potpourri Group, Inc., which leased 72,000 square feet of office space for its corporate headquarters, and DGI-Invisuals, LLC, which leased 38,923 square feet.

Brookwood purchased the park at the end of 2010 from LNR Partners, a special servicer that had acquired the park from the previous owner through foreclosure proceedings.  The property consists of six office and flex buildings which were 42% occupied at the time of Brookwood’s acquisition.  Brookwood has made numerous enhancements to the park, including significant upgrades to the landscaping, new signage, parking lot and roadway improvements and the replacement of roofs at two of the buildings.  “We are very delighted to bring Potpourri and DGI to the park,” stated Kurt Zernich, Brookwood’s Director of Asset Management.  “We believe that these leases are a testament to the improvements that we have made, along with the attractive leasing terms that we can offer.”  Mr. Zernich indicated that Brookwood intends to make further improvements to the park, including the addition of a café and changes to certain common areas.

“We have been very pleased with the level of interest in the property shown by potential tenants and are currently in lease negotiations for additional space,” stated Amy Grey, Brookwood’s asset manager for the park.  “Based upon these leases and other current activity, we believe that we will see significant further leasing in the near term,” she continued.

Richards Barry Joyce & Partners represented Brookwood with respect to the leasing, while Potpourri and DGI were represented by Neil Ross and Greg Zais of Jones Lang LaSalle and Sam Oddo of Oddo, Inc., respectively.

About Potpourri
Potpourri Group operates as a multi-title catalog company in America. Its catalogs include home-décor gifts and accessories, such as mirrors, decorative shelves and wall plaques, kitchenware, and candlestands; jewelry, including earrings, necklaces, chains, watches, pins, and crystals and gemstones; apparel; seasonal/holiday merchandise; personalized items; outdoor statuary and accessories; framed prints; lamps; planters; tables and cabinets; area rugs; and collectibles. The company also offers personalized collars, tags, and feeding bowls; doghouses; custom leashes, cages, crates, and covers; chew toys and treats; pet beds and furniture; breed-specific sweatshirts and tees; and horse-themed gifts and accessories. In addition, it offers projects and accessories for stitchers, including floor frames hoops; magnifiers; needlecase; tape measures; and scores of pillow, towel, quilt, and framable needlecraft kits; and embroidered accessories. Further, the company offers incense, aromatherapy, zodiac calendars, and art prints; house, garden, and personal products; casual apparel, gifts, and collectibles in outdoor and nature themes; and table games, unicycles and pogo sticks, bouncing shoes, riding toys, and children’s toys and games. The company was founded in 1963.

About DGI
DGI-Invisuals, LLC is the premier large format digital printer in New England and serves customers across the nation. Originally founded in 1994 congruent with the advent of digital printing technology itself, DGI has grown, merged and acquired companies over the years and now is the largest company of its kind in the region. DGI’s capabilities include a wide array of products and services and it has the top large format printing and finishing equipment available in the industry. As an additional benefit of merging together some of the top large format digital graphics companies in the area, its staff of 60 is comprised of some of the best professionals in the field. DGI has a highly skilled customer service department with expert project management, professional digital services, and a seasoned installation team all supported by sophisticated technology and a mature commercial infrastructure. DGI’s clients include top retail chains, financial institutions, ad agencies and design firms.

About Brookwood
Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies.  Since 1993, Brookwood has acquired over 105 properties totaling approximately 9.5 million square feet of office, retail, flex and research & development space as well as 143 hotel rooms, 138 condominium units, 572 apartment units and 1,360 residential building lots.  Brookwood has acquired real estate throughout the United States including in Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, Texas and Virginia.  In addition, Brookwood has invested in private companies in the wireless communications, restaurant, software and outsourcing industries.  Brookwood has invested $450 million in equity to acquire assets with a realized and unrealized value of over $1.2 billion.

ASB Real Estate Investments Retains RBJ for Brokerage Services for Stoughton Industrial Center

ASB Real Estate Investments Retains Richards Barry Joyce & Partners For Brokerage Services

Firm To Market Stoughton Industrial Center, A First-Class Warehouse At 1000 Technology Center Drive In Stoughton, Mass.

BOSTON – February 29, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it has been hired by ASB Real Estate Investments to provide brokerage services for the Stoughton Industrial Center, located at 1000 Technology Center Drive in Stoughton, Mass.

The Stoughton Industrial Center is a 332,676 square foot warehouse/distribution building situated within the amenity-rich Stoughton Technology Park.  The building was most recently utilized as a major distribution center by Reebok, which still has a retail presence on site.  The property is owned by the ASB Allegiance Real Estate Fund, which purchased the asset all cash and has no debt encumbering the property.

Located off Exit 20 on Route 24, just south of the Route 24/I-93 interchange, the building is a premier location for regional distribution in the Greater Boston area.  1000 Technology Center Drive features 34’ clear heights, generous 24.5’ x 44.5’ column spacing, 42 loading docks and 474 parking spaces.  Nearby amenities include restaurants, numerous hotels with conference facilities, day care and other business services.

“The Stoughton Industrial Center has the physical attributes – clear height, column spacing and plentiful loading docks – that squarely place it in the top-tier of the inventory, particularly in a market that tends towards older properties with lower clear heights,” said Robert Byrne, Vice President with Richards Barry Joyce & Partners.  “The building will appeal to users from a wide variety of industries seeking well located, first-class warehouse space.”

“ASB Real Estate Investments is pleased to welcome John Lashar and his colleagues at RBJ to the team for Stoughton Industrial Center,” said Mandi Wedin, Vice President with ASB Real Estate Investments, a division of ASB Capital Management. “ASB works with many great teams across the greater Boston area and we look forward to continued success in Boston with RBJ.”

The Richards Barry Joyce & Partners’ team assigned to the Stoughton Industrial Center project includes John Lashar, Robert Byrne, Paul Leone and Samantha Hallowell.

About the Market – Route 128 South Warehouse

According to research by RBJ&P, the Route 128 South submarket consists of 11,692,000 square feet of warehouse space and was 17.4% vacant, as of the quarter ended December 31, 2011.

About ASB Real Estate Investments

ASB Real Estate Investments is one of the leading real estate investment management firms in the United States, with $3.1 billion in core assets comprised of 203 properties totaling over 17 million square feet in 26 markets throughout the U.S.  For more information, please visit www.asbrealestate.com.

About Richards Barry Joyce & Partners, LLC

Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

RBJ Hired As Exclusive Leasing Agent for 780 Dedham Street in Canton

Richards Barry Joyce & Partners Hired As Exclusive Leasing Agent For 780 Dedham Street, Canton, Mass.

Single Story Office/Flex Building Offers Excellent Access To Highway And Commuter Rail

BOSTON – February 24, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it has been retained as the exclusive leasing agent for 780 Dedham Street, Canton, Mass.

780 Dedham Street consists of 84,000 square feet of first-class office/flex space.  Recently built in 2001, the building is situated in a mature corporate setting one mile south of the I-95 / I-93 interchange, offering excellent access to the region’s major highways.  The building has highway visibility, giving the location unmatched presence and signage opportunities.  Additionally the building is located close to the Amtrak / MBTA Route 128 station.

“780 Dedham Street offers a level of flexibility that makes it an option for users in the market for office, lab or R&D space,” said Robert Byrne, vice president, Richards Barry Joyce & Partners.  “Its proximity to both highways and rail service ensure that the location is easily accessible for customers, partners and employees.  The building is certainly a top-tier asset in its class and one of very few buildings built since 2001.”

The Richards Barry Joyce & Partners’ team assigned to the 780 Dedham Street project includes John Lashar, Robert Byrne and Chris Mullen.  The building has approximately 60,000 square feet available, with suites ranging from 4,800 to 48,000 square feet.

About the Market – Route 128 South Office

According to research by RBJ&P, the Route 128 South submarket consists of 2,470,000 square feet of office space and was 20.3% vacant, as of the quarter ended December 31, 2011.

About Richards Barry Joyce & Partners, LLC

Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.