Sold! – 1 Railroad Avenue, Bedford, MA

The property located at 1 Railroad Avenue consisted of a level land lot inclusive of
some wetlands that was being used as a school bus parking lot for many years.

 

Bruce Lee with Lee Partners of New England agreed with the owner Larson Properties to
exclusively represent the seller for the sale of the property. Negotiations over many
months with multiple interested parties resulted in Landmark Boston signing a Purchase
and Sale Agreement with Larson Properties.

The proposed redevelopment of the property then proceeded for over a year to include town of Bedford re-development engineering and site plan approvals from the Conservation Commission, Planning Board, Department of Public Works, Fire Department, and the town Select Board. The final approved plan included 18 new multifamily residential units with some affordable units, and approximately 3,000 sq ft. of retail space.

 

The buyers Matt Dillon and Lizzie Dillon with Landmark Boston and the sellers Ken
Larson and Caroline Larson with Larson Properties, all being residents of Bedford,
eagerly look forward to commencement of the near-by new construction. All parties
were very appreciative of the services provided by Lee Partners – to include the timely
communication of approval progress and milestones throughout the sale process.
New construction for this approved project is projected to commence during the
Summer – Fall of 2024.

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DND Homes Purchase of 155 Middlesex Turnpike, Burlington, Mass.

Today, DND Homes announced the purchase and relocation of their US Headquarters to 155 Middlesex Turnpike, Burlington, MA 01806.

This new HQ location will allow DND homes to expand their operations and continue to operate from Burlington. The new building has 13,000 sq ft. of floor space and it was recently renovated into first-class office space. DND Homes will occupy the entire top floor of 6,500 sq ft and they will have an additional 6,500 sq ft on the first floor for future expansion.

155 Middlesex Turnpike is located close to Burlington urban area amenities to include
restaurants, hotels, health and fitness services, and a newly constructed luxurious multi-family apartment complex. The Burlington Mall – including all its restaurants and world-famous retailers is within a short 1-minute drive and Rt. 128 is within a two-minute commute.

Ozan Dokmecioglu, Chairman & CEO of DND Homes, said that this new location “represents our strong faith in our future growth within the Boston markets, expanding throughout Southern New England, Florida, and to other world-wide markets. We are excited about purchasing and relocating into a more appropriate first-class office building to better meet the needs of our employees and future expansion plans.”

Jeff Bettencourt, President of Ovitas, who represented the seller, Ovitas, offered that “DND Homes was very cooperative to work with throughout the sale process and we wish them well with their future growth.”

Bruce Lee with Lee Partners of New England worked closely with both DND Homes and Ovitas to help negotiate a very positive outcome for both parties.

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For Sale: Lexington Center

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lee Partners of New England has exclusively listed For Sale the building at 1844 Massachusetts Avenue in downtown Lexington, MA.

The property consists of approximately 8,000 sq ft of retail
and office space.

The1844 Mass Avenue location is ideal for tenants that want to be at
the center of Lexington to meet the needs of their clients. The property has been
impeccably maintained with retail space on the street level and quality office space on
three different levels. MBTA public bus transportation stops at the front Mass Ave
entrance providing access to the Alewife and Bedford communities. The property
represents a rare opportunity for an investor to own a commercial property in
downtown Lexington, MA.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lee Partners is actively showing the property to interested parties.

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Fall Update: Successful Negotiations for Tenants

Lee Partners of New England represented two technology companies with their negotiations and relocation efforts this month.

Grow by Data relocated from downtown Lexington to 4 Militia Drive, Lexington. The
expansion space will allow Grow by Data to meet their expansion needs for now – and
the future. Prasanna Dhungel, Co-founder & Managing Partner of Grow by Data
indicated that 4 Militia LLC was very cooperative and responded quickly to the need for
Grow by Data to relocate into the building on a very short timeframe.

 


Ovitas, Inc., a world-class technology software company moved from their previous
headquarters building at 155 Middlesex Turnpike, Burlington, MA to 131 Hartwell
Avenue, Lexington, MA. This new location was an ideal fit for Ovitas to move into –
considering the existing move-in office space configuration that provided a match for
the “right sizing” of Ovitas operations. Bruce Lee with Lee Partners assisted with Jeff
Bettencourt, President of Ovitas efforts to identify and negotiate for the appropriate
relocation office space.

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Late Winter Update

Lee Partners of New England helped three new tenants that recently leased office space at 5 Militia Drive, Lexington MA:

Leadoo Academy: Executives Zhenlin Li and Jinyu Liu on behalf of Leadoo Academy have leased 2593 sf of office space to commence operations of the top floor of 5 Militia Drive, Lexington MA. Representing Leadoo Academy was Wenjing Guo with Charles River Properties. Bruce Lee, Managing Partner with Lee Partners of New England represented the Landlord 5 Militia LLC.

Boston Northwest Home Care, Inc. dba Assisting Hands Home Care: has leased space at 5 Militia Drive, Lexington MA. Representing Boston Northwest Home Care was Dave Tasto, President of Assisting Hands Home Care. Bruce Lee of Lee Partners of New England assisted in the lease transaction.

MVP Medical Group, LLC, dba Core New England: relocating from Norwood, MA, has leased space at 5 Militia Drive, Lexington, MA. Representing MVP Medical Group / Core New England for the lease was Charlie Blaisdell. Bruce Lee, Managing Partner with Lee Partners of New England represented the Landlord 5 Militia LLC.

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December 2022 Activity

Lee Partners of New England represented Boston Northwest Home Care in their headquarters relocation from Bedford MA to Lexington MA – leasing office space on the top floor of 5 Militia Drive.

Lee Partners of New England also represented Core New England in their relocation from
Norwood MA to 5 Militia Drive, Lexington, MA – leasing an ideal office suite for their ongoing medical practice.

 

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Building Sale in Harvard, Mass.

Lee Partners represented 12 Lancaster County Road, LLC for the marketing and sale of 12
Lancaster County Road, Harvard, MA. This 8.9-acre parcel with 16,600 sf of office and research and development space was an investment property sale to Legacy Real Estate Ventures, LLC, Boston MA.

Representing Legacy Real Estate were Michael Price, Principal, and Jennifer Price Principal – Acquisitions and Asset Management. Key to the successful sale of this property was the long-term 10-year lease recently extended by Renaissance Electronics and Communications – as they plan to operate in this area for many years. Renaissance is a Defense and Aerospace electronics contractor. Assisting in the sale transaction was Timothy Nye – Controller for Renaissance Electronics.

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Bedford Opportunity for Redevelopment

Lee Partners exclusively listed for sale the property located at 1 Railroad Avenue, Bedford, MA.

This land site of 38,451 sq ft has recently been re-zoned by the Town of Bedford for more
downtown urban occupancy uses. These newly allowed uses include retail, residential, office, research, and other specialty uses. This is an outstanding opportunity for a new owner to complete a build-to-suit re-development at the site for a long-term use.

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IDEX America Relocation Negotiation

 

Lee Partners represented IDEX America, Inc. in their relocation and long-term lease
negotiations for 8,200 sq ft of office and lab space with the new property owner of 187
Ballardvale, Wilmington, Ciminelli Real Estate Corporation. Chris Lawrence with Jones Lang LaSalle (JLL) and Chris Neelon with Ciminelli Real Estate represented the landlord.

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Activity on Militia Drive, Lexington

Lee Partners assisted in the renewal and extension of leases within 4 Militia Drive and 5 Militia Drive, Lexington, MA.

At 5 Militia Drive: Mark Murphy Esq., Battle Road Research, and the TAP foundation extended their lease terms.

At 4 Militia Drive: Star Analytical Services relocated to new offices on the top floor.

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