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RBJ Represents King Street Properties In Two Laboratory Leases In Lexington

February 20, 2013 Leave a comment Go to comments

Leases Signed With SynapDx Corporation And Promedior, Inc.

BOSTON – February 20, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented King Street Properties in two leases in Lexington, Mass.

The leases, totaling 18,424 square feet, were signed with SynapDx Corporation and Promedior, Inc.  The Richards Barry Joyce & Partners team of Jon Varholak, Eric Smith and Ron Friedman represented King Street Properties in the leases.

Details of the transactions include:

SynapDx leased 10,724 SF at 4 Hartwell Place

SynapDx leased 10,724 SF at 4 Hartwell Place

SynapDx Corporation, a private company providing laboratory diagnostics to physicians who suspect children of developmental disorders, with the initial goal of enabling earlier detection of autism spectrum disorders (ASDs), leased 10,724 square feet of laboratory space at 4 Hartwell Place (Lexington, Mass.).  SynapDx will consolidate twolocations in Woburn and Southborough to 4 Hartwell Place, creating a new corporate headquarters.  The company was represented by Kevin Hanna and Ryan Romano of Cassidy Turley.

Promedior, Inc. leased 7,700 square feet of laboratory space at 101 Hartwell Avenue (Lexington, Mass.).  The location is Promedior’s new corporate headquarters, with the company relocating from the Greater Philadelphia area.  The lease brings the building to 100% occupancy.  Promedior, a clinical stage biotechnology company developing novel biologic therapeutics for the treatment of fibrosis, was represented by Mike Shreve and Jeremy Hood of T3 Advisors.

“Promedior and SynapDx are great additions to King Street Properties’ established and growing roster of life sciences companies, which also includes Sekisui Diagnostics, T2 Biosystems, and Quanterix,” said Eric Smith, senior vice president, Richards Barry Joyce & Partners.  “The upgrades and improvements implemented by King Street across its three-building Lexington portfolio have resulted in a unique park-like setting that appeals to a wide variety of life sciences companies.”

Eric Smith, Senior Vice President

Eric Smith, Senior Vice President

About the Market – Suburban Laboratory Market
According to research from Richards Barry Joyce & Partners, 4 Hartwell Place and 101 Hartwell Avenue are located within the primary biotechnology corridor in the Greater Boston suburbs, with the towns of Lexington and Waltham together consisting of 2.5 million square feet of product with a 7.2 percent vacancy rate.  The overall suburban laboratory market consists of 5,136,000 square feet of space with 11.2 percent vacancy.  (Statistics as of the quarter ended December 31, 2012)

About King Street Properties
King Street Properties is a private real estate investment management firm focused on serving the complex real estate needs of science-based companies and institutions in Greater Boston.  For more information please visit the King Street Properties website:  www.kingstreetproperties.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.

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