Home > Press Releases > Brookwood Welcomes Magellan Diagnostics, Inc. To Brookwood Business Center

Brookwood Welcomes Magellan Diagnostics, Inc. To Brookwood Business Center

Richards Barry Joyce & Partners Represents An Affiliate Of Brookwood Financial Partners In 22,900 SF Lease In One Of Market’s Most Active Parks

BOSTON – May 10, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented an affiliate of Brookwood Financial Partners, LLC in a 22,900 square foot lease with Magellan Diagnostics, Inc. in the Brookwood Business Center (Billerica, Mass.).

Magellan Diagnostics will relocate to Brookwood Business Center from Chelmsford.  The Magellan Diagnostics lease follows close on the heels of 110,000 square feet of leases signed at the park with Potpourri Group, Inc. and DGI-Invisuals, LLC, which were announced in March 2012.

Brookwood Business Center consists of six buildings, totaling 448,616 square feet of office and flex space.  Brookwood recently completed significant renovations to the park, including updates to building infrastructure and landscaping.  Additionally, planning is underway for a cafeteria that will serve all tenants in the park.  Purchased by Brookwood at the end of 2010, the park is located at 101 Billerica Avenue in Billerica and Tewksbury, Massachusetts.

“We are seeing a tremendous amount of activity in Brookwood Business Center, far exceeding that of the surrounding market,” said Amy Grey, Brookwood’s asset manager for the park.  “This is due not only to the park’s location and quality of construction, but also to the significant renovations made during Brookwood’s ownership, including an investment into tenant amenities. We are pleased to welcome Magellan Diagnostics to our growing list of tenants.”

The Richards Barry Joyce & Partners team of Brian McKenzie, John Wilson, James Lipscomb and Emma Geldmacher represented Brookwood in the transaction.  The firm is the exclusive leasing agent for the park.  Magellan Diagnostics, a medical device company that develops point-of-care systems, clinical laboratory instruments, and analytical laboratory services focused on lead testing, was represented by Anne Columbia and Patrick Downey of the Columbia Group Realty Advisors, Inc.

About Brookwood Financial Partners, LLC
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 and over 1,360 residential lots, as well as hotel and apartment units.  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.

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.

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