Novaya Real Estate Ventures Kicks Off 2015 with the Execution Of New Leases Totaling Over 90,000 SF

March 2014, BOSTON, MA – Headquartered in Boston, Novaya Real Estate Ventures recently secured three leases for over 90,000 square feet of office space at 10 and 55 Technology Drive in Lowell, Massachusetts. The two lab/office buildings are conveniently located at the intersection of Route 3 and Interstate 495 and were purchased together in January of 2012. The execution of these three lease deals now increases the blended occupancy for the two properties to 94%.

Mark Reardon of CBRE/New England served as the exclusive agent for the Landlord in all three transactions, which included:

• Borrego Solar leasing 12,723 rentable square feet at 55 Technology Drive
• Lowell 5 leasing 21,443 rentable square feet at 55 Technology Drive
• Evoqua Water Technologies extending their existing lease for 57,692 rentable square feet until 2022 at 10 Technology Drive

“We believe that the convenient location and flexible floor plans of these properties helped us secure and retain these quality employers in Lowell” – said Peter Carbone, Principal of Novaya. “The leasing momentum in this corridor is being assisted by tenants being priced out of the inner suburbs who must retain access to a high caliber employee base. The Lowell/Chelmsford area provides a value opportunity for these employers while maintaining access to a large talent pool from Massachusetts and New Hampshire.”