IDEX Biometrics has extended their lease of 14,010 sq ft. of office and engineering space at 187 Ballardvale Street in Wilmington, MA. Bruce Lee with Lee Partners advised and assisted IDEX in a review of current IDEX office space requirements and with the negotiations with their landlord 187 Ballardvale LLC. This lease extension was the result of maintaining good relations and communication between IDEX and the landlord that resulted in a “win-win” outcome for both parties. IDEX was able to secure their space throughout 2021 during the Pandemic of 2020-2021; and the Landlord was able to keep a valued tenant during these unprecedented times. IDEX will now have additional time to determine its long term occupancy needs without the business interruption required by a immediate relocation decision.
The landlord will have the opportunity to continue to work with IDEX in an effort to meet their long term needs. Both parties benefited from this deal.Representing landlord management was Marci Griffith Loeber of Griffith Properties. Representing the property was Brian Tisbert, Managing Director with Jones Lange & LaSalle.