Contact:
Carmen Hernandez
Vice President of Marketing
Richards Barry Joyce & Partners
press@rbjrealestate.com
617-439-6000

Richards Barry Joyce & Partners Brokers 227,000 SF Lease For INVESCO Real Estate

Landlord Signs Lease Renewal With Owens & Minor In Franklin, Mass.

Boston, MA – December 19, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, has announced that it represented INVESCO Real Estate in a 227,000 square foot lease renewal with Owens & Minor at 135 Constitution Boulevard, Franklin, Mass. 

135 Constitution Blvd. is Owens & Minor’s northeast distribution facility.  Owens & Minor, a fortune 500 company, is the nation's leading distributor of national brand-name medical/surgical supplies to hospitals and integrated healthcare systems. 

135 Constitution Blvd. was built in 1987 and expanded in 1998.  Located in the Franklin Industrial Park, the facility features 30' clear heights and has 34 loading docks.  INVESCO purchased the building in 2005, with RBJ acting as its broker. 

“Owens & Minor is an excellent tenant and we are pleased to retain them at 135 Constitution Boulevard,” said David Bass, INVESCO Real Estate.  “This building has the features and location that make it a top distribution facility in the area.” 

John Lashar, partner, Paul Leone, vice president, and Robert Byrne, associate, of Richards Barry Joyce & Partners represented INVESCO in the transaction.  Owens & Minor was represented by Ken Boyd of Jackson & Cooksey. 

“The transaction works out well for both INVESCO and Owen & Minor, who have built on an already strong business relationship,” said John Lashar, partner, RBJ.  “Additionally, Owens & Minor avoids the significant disruptions inherent in moving a large-scale and complex distribution operation.” 

According to research by RBJ, the Route I-495 South submarket consists of 16,202,000 square feet of Warehouse space and was 16.4% vacant, as of the quarter ended September 30, 2007.  [source:  Richards Barry Joyce & Partners’ “indSTATus – Greater Boston Fall 2007”]

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers $20.3 Million Building Sale On Behalf Of Suffolk Freedom Way, LLC

Franklin Commerce Center (Franklin, Mass.) Purchased By Realty Associated Advisors, LLC

Boston, MA – December 10, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered the $20.3 million sale of Franklin Commerce Center, 20 Freedom Way, Franklin, Mass., on behalf of Suffolk Freedom Way, LLC.  The building was purchased by Realty Associated Advisors, LLC. 

Built in 2003, Franklin Commerce Center is a 223,450 square foot industrial/distribution building, located within the Franklin Industrial Park.  The facility features 32 loading docks, 36' clear heights, and is occupied by credit tenants such as Owens & Minor, Inc., Lindenmeyr Munroe, and Dealer Tire, LLC.  Located less than half of a mile from Interstate 495, the building is one of the most well located and well designed high-bay (36’ clear) distribution facilities in the region. 

“Given the building’s strong credit tenants, location and amenities, we witnessed a very high level of institutional investor interest in this sale,” said Richard Bradbury, vice president, Richards Barry Joyce & Partners.  “Investor interest in industrial product on I-495 South has been consistently strong throughout 2007 and looks to remain that way heading into 2008.” 

In the transaction, Richard Herlihy, John Lashar, Richard Bradbury and Paul Leone of RBJ represented the seller and procured the buyer.  Realty Associated Advisors has named RBJ the exclusive leasing agent for Franklin Commerce Center. 

According to research by RBJ, the Route I-495 South submarket consists of 16,202,000 square feet of Manufacturing space and was 16.4% vacant, as of the quarter ended September 30, 2007.  [source:  Richards Barry Joyce & Partners’ “indSTATus – Greater Boston Fall 2007”]

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

About Suffolk Advisors
Suffolk Advisors is an independent investment firm founded in 2002 by Ivy B. Freedman, Suffolk has acquired over 2 million square feet in the last four years and currently has 1.5 million square feet under management.

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Richards Barry Joyce & Partners Releases “bioSTATus – Greater Boston Winter 2008”

Vacancy For Laboratory Space In Greater Boston Drops Below 10%
For The First Time Since 2002

Boston, MA – November 13, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm based in Boston, has released “bioSTATus – Greater Boston Winter 2008”, the region’s most in-depth research report on biotechnology-focused real estate. 

According to the report, vacancy rates for laboratory space in Greater Boston have fallen to 9.1% for the two-quarter period ending September 30, 2007, marking the first time the vacancy rate has dropped below 10% since 2002.  Additionally, there is more than 12 million square feet of laboratory space occupied in Greater Boston, the most ever recorded. 

“The low vacancy rate demonstrates the continued strength of biotechnology in Greater Boston,” said Brendan Carroll, vice president of research at Richards Barry Joyce & Partners.  “However, it is also an indicator of how tight the market has become, and that has a cost as well as a benefit.  We are witnessing a shortage of high quality, available blocks of space in Cambridge and Boston, with the scarcity reflected in lease rate levels.” 

Given this shortage of space, the report looks at a three possible submarkets that may play host to the next biotechnology “cluster” – Allston, NorthPoint in Cambridge and West Cambridge/Alewife, also in Cambridge.  bioSTATus also provides figures that show that Greater Boston has the largest biotech-ready workforce in the United States.  Additionally, the unique RBJ Clinical Growth Index shows the status of locally conducted NIH trials in each of the four phases.

About bioSTATus
RBJ has been publishing “bioSTATus” since 2002 and the report has become the leading research publication focusing on biotechnology real estate.  The report delivers pertinent real estate figures, such as vacancy, availability and absorption rates for the laboratory market in Greater Boston as well as the Cambridge, Boston and Suburbs submarkets.  The report also provides business context around the figures, making it an indispensable tool for following the Greater Boston biotechnology market

To request a copy of the report, please send an email to research@rbjrealestate.com.  In addition to bioSTATus, RBJ also publishes quarterly Office, Industrial and Flex reports, covering all submarkets, and quarterly marketSTATus reports for the following submarkets: 128 North, 128 West, 128 South, 495 North, 495 West, Cambridge, Back Bay and the Financial District. 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Announces Expansion Of Firm’s Cambridge Leasing Team

Thomas Smith Joins Firm As Associate Broker

Boston, MA – November 7, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that Thomas D. Smith has been hired to the firm’s Cambridge leasing group. 

In his role as an associate, Mr. Smith will be responsible for tenant and landlord representation in Cambridge and the Greater Boston suburbs.  Prior to joining RBJ, Tom worked in the medical / pharmaceutical industry with Praxair Healthcare.  He has also worked in commercial real estate for Equis Corporation, where his primary responsibilities included new business development, financial analysis and benchmarking.  Tom earned a B.A. from the University of Massachusetts Amherst. 

“Tom brings a skill set and range of experience that is very well suited to his new position on RBJ’s Cambridge team,” said Robert B. Richards, president, RBJ.  “He has first-hand knowledge of the business issues facing medical companies from his tenure at Praxair Healthcare, in addition to his commercial real estate experience, which will make him a valuable resource to our clients.” 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 50,000 SF In Leases At Nagog Park For KBS Realty Advisors

Transactions Illustrate The Appeal Of Nagog Park To Both Established And Emerging Companies

Boston, MA – November 5, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented KBS Realty Advisors in eleven new leases, expansions and renewals at Nagog Park in Acton, Mass. over the past 90 days.  The leases total 50,000 square feet and were signed with a mix of established and emerging companies, illustrating the appeal of both Nagog Park and Greater Boston’s northern submarkets. 

KBS Realty Advisors’ portfolio of properties in Nagog Park includes buildings 30, 31, 33, 35, 40, 42, 43 and 125.  The park is widely considered one of the leading office parks in the region, and has history tied to many of the area’s most successful high tech companies. 

Nagog Park is easily accessed from I-495 and Route 2 and features a wide range of in-park amenities, including a day care center and several fine restaurants.  The park can accommodate tenants with space requirements ranging from 1,000 to 35,000 SF.

“Nagog Park has a remarkable record of being home to a diverse group of highly successful companies,” said John Kolb, vice president, KBS Realty Advisors.  “While often considered a ‘high tech park,’ Nagog actually features tenants from a range of industries, as well as an excellent mix of large, established companies and smaller, emerging firms.” 

KBS Realty Advisors was represented in the transactions by Brian McKenzie, John Wilson, Jamey Lipscomb and Robert Byrne of Richards Barry Joyce & Partners.  RBJ is the exclusive leasing agent for KBS Realty Advisors’ portfolio of Nagog Park properties.

Highlights of several of the transactions are: 

• Tatara Systems, a worldwide leader in mobile services convergence, signed a lease renewal for 11,526 SF on the third floor 35 Nagog Park.  T3 Realty Advisors represented Tatara Systems. 
• Peermeta, Inc., an early stage mobile software platform developer, signed a new lease for 7,200 square feet at 43 Nagog Park .  The Web 2.0 company is backed by venture capital firms Sigma Partners and Kepha Partners.  It was co-founded by Cheng Wu, who has founded several well known high tech companies, including Acopia Networks, ArrowPoint Communications, and Arris Networks. 
• Liberty Mutual Group, which offers a wide range of insurance products and services, signed a lease renewal for 3,290 square feet of office space at 30 Nagog Park.  CresaPartners, LLC represented Liberty Mutual. 
• Tervela, which develops a hardware-based messaging platform, expanded their presence at 43 Nagog Park by 5,770 square feet.  Tervela is funded by Goldman Sachs, Sigma Partners and Acartha Group.  Cushman & Wakefield represented Tervela. 

 

“Greater Boston’s northern suburbs have been very active over the past several months, with VC-funding at record levels and established companies like IBM, PUMA North America and Red Hat closing significant transactions,” said Brian McKenzie, partner, RBJ.  “Nagog Park, in particular, garners a high level of attention because it allows for corporate growth, is easily accessible, and has proactive ownership in KBS Realty.  Additionally, the park offers excellent economics, when compared to surrounding areas.”

According to research by RBJ, the Route I-495 North submarket consists of 14,107,000 square feet of office space and was 26.1% vacant, as of the quarter ended September 30, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Fall 2007”]

About KBS Realty Advisors
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC registered investment advisor. KBS invests in, manages and sells high quality U.S. commercial real estate assets for institutional, corporate and private investors. Since the company was formed, KBS has created 18 separate accounts and six commingled funds. In addition, KBS has formed a publicly offered, non-traded real estate investment trust. For more information, visit www.kbsrealty.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, financial analysis, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Named Exclusive Leasing Agent For Presidential Woods Corporate Center

Campanelli Companies/Commonfund Realty JV Hires Firm To Lease
104,000 Square Foot Office / R&D Building

BOSTON – October 25, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it was hired by a joint venture of Campanelli Companies and Commonfund Realty, Inc. as the exclusive leasing agent for Presidential Woods Corporate Center, Woburn, Mass. 

The joint venture bought Presidential Woods Corporate Center earlier in 2007, renaming it from 8 Presidential Way.  The building consists of two stories and 104,000 square feet of office and R&D space.  Situated on 13.8 acres of land, the site is located immediately off Interstate 93, providing easy highway access. 

“Presidential Woods Corporate Center was an excellent acquisition for the Campanelli / Commonfund JV and we have high expectations for its future,” said Peter Brown, director of leasing at Campanelli Companies.  “We are currently in the process of analyzing market demand with an eye towards possible redevelopment and expansion options.”

Amenities nearby Presidential Woods Corporate Center include an MBTA train station, convenience retail, and numerous hotels and restaurants.  The building was purchased vacant and corporate neighbors include Raytheon, Analog Devices, American Tower Group, Arqule and Paychex. 

“The 128 North market has been very active during the past few quarters and we expect the trend to continue,” said Brian McKenzie, partner, Richards Barry Joyce & Partners.  “We have already received interest in the building from a variety of companies, indicating the attraction of the building and its location.” 

The RBJ team assigned to the Presidential Woods Corporate Center project includes Brian McKenzie, John Wilson, James Lipscomb and Rob Byrne. 

According to research by RBJ, the Route 128 North submarket consists of 24,129,000 square feet of office space and is 20.7 vacant, as of the close of the third quarter of 2007 [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Fall 2007”]. 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

About Campanelli Companies
Established in 1947, Campanelli Companies is a full-service commercial real estate development company with extensive experience in the industrial, office, warehouse/distribution and retail markets. To date, Campanelli has developed over 16 million square feet of commercial real estate property in New England and the Eastern Seaboard. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions.  It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural and engineering design, building construction and facilities and property management.  With a cohesive development team that has worked together for more than thirty years, Campanelli can assure its clients that every aspect of a project is directed, monitored and controlled by Campanelli Companies.  For more information, visit www.campanelli.com.

About Commonfund Realty, Inc.
Commonfund Realty, Inc. is the realty arm of Commonfund, the nation's largest dedicated non-profit investment manager. Founded in 1971, Commonfund is devoted to enhancing the financial resources of educational and other select non-profit institutions including endowments, foundations and healthcare organizations through superior fund management, investment advice, treasury operations and e-procurement services.  Commonfund Realty, Inc. has a record of success in real estate investing that spans more than 18 years.  Since 1988, Commonfund Realty, Inc. has acquired or overseen developments in more than 18 states throughout the country aggregating more than $3.4 billion in transactions. Commonfund manages approximately $40 billion for more than 1,600 educational institutions and foundations.

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Greater Boston Office Market Continues Positive Trend, According To Richards Barry Joyce & Partners

Vacancy Rates Down, Asking Lease Rates Up Across Greater Boston

Boston, MA – October 10, 2007 – Greater Boston’s office market is continuing its hot streak, according to a research report from Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm.  Office vacancy rates across Greater Boston dropped 0.5% to 13.8%, and asking lease rates for Class A space rose considerably, jumping $2.38 to $40.96 per square foot.  The findings were released in the firm’s officeSTATus – Greater Boston Fall 2007 report. 

officeSTATus also reports that the office market experienced 867,000 square feet of absorption, defined as the net change in the amount of space occupied.  Occupancy stands at record levels in Cambridge and Boston’s Back Bay, with the Financial District poised to hit its peak in three quarters. 

RBJ’s “Time to Depletion” index shows the timeframe at which certain submarkets will hit zero vacancy, given a continuation of the last 12 months’ absorption levels.  According to this measure, Burlington will hit zero vacancy in 2009, with Cambridge and the Back Bay following suite in 2010. 

“The strength of the office market in Greater Boston is a positive indicator for economic health,” said Brendan Carroll, RBJ’s vice president of research.  “However, several submarkets are nearing a critical shortage of office space.”

officeSTATus features an executive summary page with an overview of some of this quarter’s most notable findings.  Sections on each primary submarket – Downtown, Cambridge, Route 128, and I-495 – deliver more in-depth analysis.  The “Economy & Real Estate” section offers context for the quarterly findings within the broader economic environment.  The report’s final page compiles all the quarter’s pertinent statistics – vacancy, market size, absorption and availability – into a single, useful reference.  This quarter’s “Market Interesting” section provides a dramatic example of how incentives can reduce the “real cost” of a lease.

To request a copy of RBJ’s officeSTATus – Greater Boston Fall 2007, please send an email to research@rbjrealestate.com. 

RBJ Research Publications
officeSTATus is the flagship publication in RBJ’s family of eleven quarterly research reports.  In addition to officeSTATus, RBJ publishes: flexSTATus, which highlights Flex property types; indSTATus, which focuses on Industrial property types; and individual marketSTATus reports on eight critical sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year.  In total, the firm produces an industry-leading 46 reports per year, in addition to custom research projects for clients. 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Announces Fourteen Leases In Cities Across United States and Europe

Leases Illustrate Range Of RBJ’s National Brokerage Services Group
And Support The Firm’s Independent Approach

Boston, MA – October 9, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that its National Brokerage Services group recently brokered fourteen leases in twelve cities across the United States, France and the United Kingdom.

The transactions were brokered on behalf of four of the firm’s national accounts: Forrester Research, Inc. (NASDAQ: FORR), OneBeacon Insurance Company (NYSE: OB), Sapient (NASDAQ: SAPE) and Yankee Group Research, Inc.  RBJ’s National Services group counsels companies in a variety of industries on how to manage their national and international real estate portfolios in order to better support their core business. 

“We have been working with RBJ for four years, on over 35 transactions that literally cross the country coast-to-coast, as well as the purchase of our US headquarters building in Canton, MA,” said John Ferrari, vice president of real estate, OneBeacon Insurance Company.  “They have an excellent understanding of our business and have aided us in a significant reduction in our occupancy expenses over the period we have worked together.” 

The RBJ team involved in the transactions includes Robert Richards, president; Kristin Connelly, director of national accounts, and Richard Bradbury, vice president. 

Following is an overview of the transactions: 

Forrester Research.  RBJ brokered two leases, in Dallas, TX and a submarket of Paris, for Forrester.  The leases totaled 16,267 square feet.  Forrester is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology.

OneBeacon Insurance Company.  RBJ brokered eight leases, a mix of new leases and renewals, totaling 83,684 square feet for OneBeacon.  The leases were completed in California (two transactions), Georgia, Illinois, Maine, Minnesota, New York and Washington.  OneBeacon Insurance Company’s operating subsidiaries offer a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents.

Sapient.  RBJ brokered three leases totaling more than 35,000 square feet for Sapient.  Two leases were in Arlington, VA and one was in San Francisco.  Sapient, a global services firm, helps clients compete, evolve and grow in an increasingly complex marketplace. 

Yankee Group.  RBJ brokered an entire floor sublease for office space in London for Yankee Group, an independent technology research and consulting firm. 

About RBJ’s National Brokerage Services
Headquartered in Boston, RBJ maintains a significant National Brokerage Services practice, managing client projects locally, nationally and internationally.  The firm offers an independent approach to managing global real estate portfolios – eschewing the network approach preferred by most firms – that ensures a superior level of service for its clients.  For example, if a client had two simultaneous projects in London, RBJ might counsel working with two different local brokers based on their competency rather than choosing a single firm due to its network affiliation. 

“Our unique position as the sole remaining independently owned, full-service real estate advisory firm allows us to focus on pleasing our clients, not Wall Street or majority stockholders based outside of Boston,” said Robert Richards, president, Richards Barry Joyce & Partners.  “The lack of outside distractions helps us provide our clients with a higher level of service.  We have one agenda:  exceeding our client’s highest expectations.”

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Named Exclusive Leasing Agent For 90 Central Street, Boxborough, MA

Piedmont Office Realty Trust Hires Firm To Lease 175,000 SF Office Building
In High Technology Corridor

Boston, MA – September 25, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it was selected by Piedmont Office Realty Trust as the exclusive leasing agent for 90 Central Street in Boxborough, MA.

90 Central Street consists of 175,000 square feet of Class A office space.  The building was constructed in 2001, in a build-to-suit project for Agilent Technologies prior to its sale and transfer to Piedmont Office Realty Trust.  Piedmont Office Realty Trust is one of the largest office REITs in the country and currently owns 82 buildings nationwide and about $5 billion in assets.  90 Central is part of Tech Central @ Boxborough, a two-building park considered a top tier location in one of the nation’s most concentrated high technology corridors. 

The building is considered a “best in class” asset due to its modern design, outstanding infrastructure, park amenities and excellent location in the I-495 North submarket, with immediate access to Route 2 and I-495.   

“The I-495 North market is garnering a tremendous amount of interest right now,” said John Wilson, partner, Richards Barry Joyce & Partners.  “This is a very high-tech heavy region and there is a high level of IPO and venture capital activity involving companies in the area.”

Brett Miles of Piedmont concurs, adding “We’re excited about the Greater Boston real estate market right now and the surge of activity that is felt in the region.  We feel the asset is well positioned to satisfy the needs of the area’s office users.”

The RBJ team assigned to the project includes partner John Wilson and vice president James Lipscomb.  There is currently approximately 62,000 square feet of available space, subdividable to 8,000 square feet. 

According to research by RBJ, the Route I-495 North submarket consists of 14,107,000 square feet of office space and was 26.3% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”]

About Piedmont Office Realty Trust
Piedmont is a nontraded real estate investment trust, currently closed to new investors, which specializes in Class-A office properties. Piedmont owns 82 buildings totaling more than 21 million square feet in 23 states and Washington, D.C.  Across the portfolio, Piedmont properties are 94 percent leased.  For more information, see www.piedmontreit.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers $10 Million Building Sale On Behalf Of Patriot/Reading Associates

38 Forge Park In Franklin, MA Purchased By Realty Associates Advisors, LLC

Boston, MA – September 18, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered the sale of 38 Forge Park in Franklin, MA, on behalf of Patriot/Reading Associates.  The building was purchased by Realty Associates Advisors, LLC for $10 million. 

38 Forge Park is a single-story flex building consisting of 79,478 square feet of space.  Built in 1999, the building features modern construction, ample parking, and an excellent location along Route I-495.  It is located near the Forge Park/495 MBTA Commuter Rail Station.

“Forge Park has witnessed a high level of activity this year, and for good reason,” said Richard Bradbury, vice president, Richards Barry Joyce & Partners.  “The Park’s location and product mix establish it among the top master planned developments in the market. 

In the transaction, Richard Herlihy, Richard Bradbury, John Lashar and Paul Leone of RBJ represented the seller and procured the buyer. Realty Associates Advisors has named RBJ the exclusive leasing agent for 38 Forge Park. 

According to research by RBJ, the Route I-495 South submarket consists of 3,052,000 square feet of Flex space and was 11.6% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “flexSTATus – Greater Boston Summer 2007”]

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 110,036 SF Lease For Brookfield Properties In Downtown Boston

Landlord Attracts Hill Holiday To 53 State Street

Boston, MA – September 12, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a new 110,046 square foot lease on behalf of Brookfield Properties (NYSE: BPO).  The landlord signed a lease with Boston advertising agency Hill Holiday for office space at 53 State Street, in Boston’s Financial District. 

Under the terms of the lease, Hill Holiday will occupy space on floors 33 through 36 of 53 State Street, also known as Exchange Place.  The advertising agency will be moving to the Financial District from its current location in Boston’s Hancock Tower. 

53 State Street is a Class A tower offering up to 12 corner offices per floor and has a total of 1,180,000 square feet of rentable space, 40 floors, and a distinctive reflective glass interior.  The building was built in 1984 and has 6,300 square feet of space available.  Onsite amenities include Xando/Cosi and Au Bon Pain cafés and Martin’s newsstand/convenience store.  The building is within walking distance of Faneuil Hall Marketplace and all MBTA subway lines.  It was named the “Office Building of the Year” by the Building Owners and Managers Association (BOMA) in 2005. 

“This is another example of 53 State Street having the pulling power to attract top tier tenants,” said Michael Joyce, partner, Richards Barry Joyce & Partners.  “The building remains a premier location in Boston’s Financial District.” 

Brookfield was represented in the transaction by Michael Joyce, partner, and Tom O’Regan, vice president, of Richards Barry Joyce & Partners.  RBJ is the exclusive leasing agent for 53 State Street.  Hill Holiday was represented by Cushman & Wakefield. 

According to research by Richards Barry Joyce & Partners, the financial district in Downtown Boston consists of 33,155,000 square feet of office space and is 9.5% vacant, as of the quarter ended June 30, 2007 (source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”). 

About Brookfield Properties Corporation
One of North America's largest commercial real estate companies, Brookfield Properties Corporations owns, develops and manages premier office properties. The office properties portfolio is comprised of interests in 111 properties totaling 75 million square feet in the downtown cores of New York, Boston, Washington, D.C., Los Angeles, Houston, Toronto, Calgary and Ottawa. Landmark assets include the World Financial Center in Manhattan, Brookfield Place in Toronto, Bank of America Plaza in Los Angeles and Bankers Hall in Calgary. The corporation also holds interests in over 15 million square feet of high-quality, centrally located development properties in its major markets. The corporation's common shares trade on the New York and Toronto stock exchanges under the symbol BPO. For further information, visit www.brookfieldproperties.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 142,120 SF Lease For Sleepy’s

The Mattress Professionals Sign Lease For Warehouse / Distribution Space In Franklin, MA

Boston, MA – September 5, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, has announced that it brokered a new 142,120 square foot lease for Sleepy’s, LLC, at 32 Forge Park in Franklin, MA. 

Sleepy’s, based in Bethpage, NY, is the leading mattress retailer in the Northeast.  32 Forge Park will become the company’s new Massachusetts warehouse and distribution center.  Sleepy’s is subleasing the space from BJ’s Wholesale Club, Inc.  Situated in the master planned, 2.7 million square foot Forge Park, 32 Forge Park is a 142,120 square foot warehouse/distribution building.  Forge Park provides its tenants with immediate access to I-495 as well as nearby hotels and the Forge Park/495 MBTA Commuter Rail Station.

“Forge Park is one of the premier industrial parks in the market,” said Paul Leone, vice president, Richards Barry Joyce & Partners.  “The facility and its ease of access to the region’s major distribution channels made this a very compelling option for Sleepy’s.” 

John Lashar, partner, and Paul Leone, vice president, of Richards Barry Joyce & Partners represented Sleepy’s, LLC in the transaction.  BJ’s Wholesale Club was represented by Rick Schuhwerk and Bill Bailey of Jones Lang LaSalle. 

According to research by RBJ, the Route I-495 South submarket consists of 16,202,000 square feet of Warehouse space and was 16.1% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “indSTATus – Greater Boston Summer 2007”]

About Sleepy’s, LLC
Sleepy's is a privately owned bedding chain with over 450 stores operating in New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Delaware, Rhode Island, Maine, Maryland and Virginia. Sleepy's recently acquired the Rockaway Bedding locations and trade name, and is the largest mattress retailer in the United States.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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PUMA® North America Makes a Move
Sportlifestyle Brand Acquires New US Headquarters in Westford

Westford, MA – August 24, 2007 – PUMA® North America, the sportlifestyle brand known for fusing the influences of sport, lifestyle and fashion, announced today the purchase of 10 Lyberty Way in Westford, MA.The newly purchased location at 10 Lyberty Way will serve as the company’s new US Headquarters housing the brand’s North American operations including sales, marketing, retail, product merchandising, customer service, operations and finance. 

PUMA North America will make its move to the 104,711 square foot building in the fall of 2008.  Currently, PUMA occupies 5 and 6 Lyberty Way, just down the street from the new building.  PUMA North America employs approximately 300 people from the New England area. 

“PUMA has aggressive strategies for the coming years.  To reach our goals while not sacrificing desirability, the right location is crucial,” said Jay Piccola, President of PUMA North America.  “We have long considered Westford our home, and we’re happy that our move will keep us here.”

PUMA North America is a wholly owned subsidiary of PUMA AG, based in Herzogenaurach, Germany.  The company has been based in Westford since 1997 with previous headquarters in Brockton and Framingham.  Today, in addition to the Westford offices, PUMA’s global marketing and product design offices are located at the Boston Design Center.  PUMA also has a Concept Store on Newbury Street and will open a new location this September in the Natick Collections.

Brian McKenzie, partner and James Lipscomb, vice president of Boston-based Richards Barry Joyce & Partners, a full service real estate advisory firm, represented PUMA in this purchase.  Also on this business venture, PUMA enlisted the legal assistance of Kevin Joyce of Nixon Peabody, LLP.

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PUMA® is the global athletic brand that successfully fuses influences from sport, lifestyle and fashion. PUMA’s unique industry perspective delivers the unexpected in sportlifestyle footwear, apparel and accessories, through technical innovation and revolutionary design.  Established in Herzogenaurach, Germany in 1948, PUMA distributes products in over 80 countries.  For further information please visit www.puma.com.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners & T3 Advisors Broker 88,930 SF Lease Between Intercontinental Real Estate Corporation and ImmunoGen

Lease Is Signed For Office and Laboratory Space At 830 Winter Street In Waltham, MA

BOSTON – August 24, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Intercontinental Real Estate Corporation (Intercontinental) in a new 88,930 square foot lease with ImmunoGen, Inc. (NASDAQ:  IMGN) at 830 Winter Street, Waltham, MA. ImmunoGen was represented by T3 Advisors LLC.

830 Winter Street is comprised of 182,106 square feet of space and ImmunoGen will occupy office and laboratory space on each of the building’s three floors.  ImmunoGen, a biopharmaceutical company that develops novel targeted anticancer therapeutics using its Tumor-Activated Prodrug (TAP) technology, will be moving to Waltham from its current headquarters in East Cambridge.

“830 Winter Street is one of the top laboratory facilities in the Greater Boston suburbs,” said Thomas R. Taranto, Jr., Director, Head of Asset and Portfolio Management at Intercontinental.  “Intercontinental is pleased to have ImmunoGen as a tenant and we look forward to a long lasting relationship with such a reputable company.”

“ImmunoGen is excited to have the opportunity to bring all of our research operations into a single facility along with our corporate offices.  We think 830 Winter Street is ideally suited to our needs and will provide us high-quality lab and office space for many years,” commented Daniel M. Junius, Executive Vice President and Chief Financial Officer of ImmunoGen, Inc.

Jon Varholak, Michael Frisoli and Ron Friedman of Richards Barry Joyce & Partners represented Intercontinental in the transaction.  RBJ is the exclusive leasing agent of 830 Winter Street, which is now fully leased.  ImmunoGen was represented by Roy Hirshland and Mike Shreve of T3 Advisors.

“Boston’s suburbs continue to attract biotechnology companies, with Waltham and Lexington at the forefront of this trend,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “The scarcity of opportunities in Cambridge, which was created by the tremendous growth of Greater Boston as a hub of biotechnology, has helped fuel the growth of biotech in the suburbs.” 

According to research by RBJ, the Greater Boston suburban market consists of 3,729,000 square feet of laboratory space and was 21.0% vacant, as of the quarter ended March 31, 2007.  Lexington and Waltham account for 36% of all suburban lab inventory and 62% of all suburban Class A lab space.  [Source:  Richards Barry Joyce & Partners’ “bioSTATus – Q1 2007”.]

About Intercontinental Real Estate Corporation
Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental manages a portfolio in excess of $1.7 billion for its clients.

About T3 Advisors
T3 Advisors is a full-service real estate brokerage and consulting firm that specializes in advising corporations that are focused on the innovation economy. T3 is a long-term business advisor to over 150 major corporations in technology, life sciences, venture capital and financial services industries. T3 represents tenants only, allowing the firm to provide objective and unbiased advice to every client without the conflict of representing landlords. Services include brokerage, strategic planning, project management, valuation, disposition, portfolio management and lease administration. For more information visit www.t3advisors.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers $13 Million Building Sale

Morris & Morse Company, Inc. Purchases 1400 Computer Drive, Westborough, MA

Boston, MA – August 16, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that it brokered the $13 million sale of 1400 Computer Drive, Westborough, MA.

The 79,123 square foot Class A office building was purchased by Morris & Morse Company, Inc on behalf of an institutional client.  The building is centrally located in the I-495 West area, with great visibility from Route 9 and direct access to the Massachusetts Turnpike and Route I-495.  Originally developed in 1991 as the Northeast General Electric Headquarters, 1400 Computer Drive offers tenants excellent on-site amenities including a first class fitness facility, as well as a host of restaurants, shops, hotels, health clubs and daycare services nearby. 

Richard Herlihy, John Lashar, Richard Bradbury, and Paul Leone of RBJ represented the buyer in the sales transaction.  RBJ was also named as the exclusive leasing agent for the building by the new owners.

According to research by RBJ, the Route I-495 West submarket consists of 16,804,000 square feet of office space and was 17.3% vacant, as of the quarter ended June 30, 2007.  The submarket has seen positive absorption for the past five consecutive quarters.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”]

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 335,000 SF Of Leases For Brookfield Properties In Downtown Boston

Leases Reflect The Appeal Of 53 State Street And 75 State Street

Boston, MA – August 14, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered four leases totaling 335,220 square feet for Brookfield Properties (NYSE: BPO).  The leases are at 53 State Street, Exchange Place, and 75 State Street, both located in Boston’s Financial District.

RBJ is the exclusive leasing agent for both 53 and 75 State Street.  Michael Joyce, partner, and vice presidents Thomas Ashe and Tom O’Regan of RBJ represented Brookfield in each of the leases.  Details of the transactions include: 

Fidelity Investments, one of the world's largest providers of financial services, signed two lease renewals totaling 220,079 square feet at 53 State Street.  The first transaction, a short-term lease for 169,943 square feet, covers space on floors 4, 5, 10, 11 and 12.  The second transaction is a long-term lease for 50,136 square feet.  Fidelity was represented in the transactions by Chuck O’Connor of FHO Partners.

Boston Consulting Group, an international strategy and general management consulting firm, signed a lease renewal for 78,488 square feet on the 30-32 floors of 53 State Street.  BCG was represented by Andrew Hoar of CB Richard Ellis.

Advent International, the global private equity firm, renewed a lease for 36,653 square feet.  The space, on the 2nd and 29th floors of 75 State Street, is for the firm’s regional headquarters.  Advent was represented by CB Richard Ellis in the transaction.

“Boston’s Financial District continues to be a very strong market and 53 and 75 State Street are two of the most sought after buildings Downtown,” said Michael Joyce, partner, Richards Barry Joyce & Partners.  “These lease renewals illustrate the attraction that Brookfield Properties creates in their commercial properties.” 

“Brookfield is pleased to be able to extend our long-term relationship with such fine companies within our outstanding Boston portfolio,” said Jerry Larkin, senior vice president and director of leasing at Brookfield Properties.

About the Buildings
53 and 75 State Street are located in the heart of Boston’s Financial District.  Two of the most attractive and distinguished properties in downtown Boston, both buildings have been recently honored with “Office Building of the Year” awards by the Building Owners and Managers Association (BOMA).  The buildings are within walking distance of Faneuil Hall Marketplace and all MBTA subway lines. 

53 State Street is a Class A tower offering up to 12 corner offices per floor and has a total of 1,180,245 square feet of rentable space, 40 floors, and a distinctive reflective glass interior.  The building was built in 1984 and has 6,300 square feet of space available.  Onsite amenities include Xando/Cosi and Au Bon Pain cafés and Martin’s newsstand/convenience store. 

75 State Street is a 31-story Art Deco office building consisting of more than one million square feet of premier office and retail space and a public parking garage which can accommodate 700 cars.  The building represents classic architectural design with extensive use of granite on the exterior facade and marble throughout the six-story great hall lobby, leading to the on-site retail, banking and food services.  The building, which has 70,000 square feet of space available, features a lobby shop, Rebecca’s Café, Brooks Brothers and Harper & Faye jeweler on-site. 

According to research by Richards Barry Joyce & Partners, the financial district in Downtown Boston consists of 33,155,000 square feet of office space and is 9.5% vacant, as of the quarter ended June 30, 2007 (source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”). 

About Brookfield Properties Corporation
One of North America's largest commercial real estate companies, Brookfield Properties Corporations owns, develops and manages premier office properties. The office properties portfolio is comprised of interests in 113 properties totaling 74 million square feet in the downtown cores of New York, Boston, Washington, D.C., Los Angeles, Houston, Toronto, Calgary and Ottawa. Landmark assets include the World Financial Center in Manhattan, BCE Place in Toronto, Bank of America Plaza in Los Angeles and Bankers Hall in Calgary. The corporation also holds interests in over 17 million square feet of high-quality, centrally-located development properties in its major markets. The corporation's common shares trade on the New York and Toronto stock exchanges under the symbol BPO. For further information, visit www.brookfieldproperties.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 157,000 SF Lease For iRobot

BOSTON – August 7, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that it brokered a new 157,000 square foot lease for iRobot Corp. at Bedford Business Park, 8 Crosby Drive, Bedford, MA. 

The location will become iRobot’s new corporate headquarters.  Under the terms of the 12-year lease, iRobot® will enjoy excellent visibility from Route 3 and a new façade for the former Abbott Laboratories-occupied building, which is owned by Boston Properties. 

Jonathan Varholak and John Wilson, partners at Richards Barry Joyce & Partners, represented iRobot in the transaction.  The landlord, Boston Properties, was represented by David Provost, senior vice president of leasing, Stacey Baker, vice president of leasing, Jim Rosenfeld, senior vice president of development, and Richard Monopoli, project manager, of Boston Properties. 

“The collaborative effort put forth by the Commonwealth of Massachusetts, the Massachusetts Highway Department, the Town of Bedford, and the Massachusetts Division of Capital Asset Management in facilitating this deal was second to none,” stated Richard Monopoli, Boston Properties.  “It is a testament to the strong business environment in Massachusetts and the desire to nurture and develop growing companies.”

“The 128 North submarket is home to a host of emerging and existing technology companies,” said Jon Varholak, partner, Richards Barry Joyce & Partners.  “As the year progresses, we are seeing growing interest in the region, which is evidenced by iRobot’s lease in Bedford.” 

iRobot makes robots that handle the dull, dirty and dangerous in a better way. iRobot is credited for inspiring a growing consumer robot industry with the world’s first affordable home robot, the iRobot Roomba® Vacuuming Robot, which has sold more than 2.5 million. The company has shipped more than 1,000 of its life-saving, combat-proven robots to forces in the U.S. and abroad.

About Boston Properties
Boston Properties develops, owns and manages trophy class commercial properties in five select US markets.  The Boston, Massachusetts based REIT’s portfolio includes San Francisco’s Embarcadero Center, Virginia’s Freedom Square at Reston Town Center, Boston’s Prudential Center, New York City’s Citigroup Center and Princeton’s Carnegie Center.  To learn more about Boston Properties (NYSE:BXP), visit the Company's web site at www.bostonproperties.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Richards Barry Joyce & Partners Represents Liberty Companies In New 88,490 SF Lease With FedEx Ground

Landlord Leases Warehouse / Distribution Space At One United Drive, West Bridgewater, MA

BOSTON – August 1, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Liberty Companies in a new 88,490 square foot lease with FedEx Ground at One United Drive, West Bridgewater, MA. 

One United Drive will be a warehouse and distribution center for FedEx Ground.  The move will represent a doubling of space for the company, which is currently utilizing 41,000 square feet at 1020 West Chestnut Street in Brockton.  Part of FedEx Corporation (NYSE: FDX), FedEx Ground specializes in cost-effective, small-package shipping, offering dependable business-to-business delivery or convenient residential service. 

“One United Drive was an excellent acquisition for Liberty Companies,” said Mohsin Amiji, CEO, Liberty Companies.  “We have signed another top-tier tenant in FedEx Ground, which saw the significant benefits of locating to this facility.  In particular, companies are attracted to the building’s location and its access to all major highways in the area.” 

Liberty Companies purchased One United Drive in March 2006.  The building was formerly the home of United Liquors and consists of 315,000 total square feet, of which 285,000 square feet is warehouse space and 30,000 square feet is office space.  In October 2006, SWB New England leased 80,000 square feet at the facility, which now has 146,510 square feet of availability. 

John Lashar, Paul Leone and Cal Hudak of Richards Barry Joyce & Partners represented Liberty Companies in the transaction.  RBJ is the exclusive leasing agent for One United Drive.  FedEx Ground was represented by Tom Byrd and Joe Pelle of Fischer & Co. 

According to research by RBJ, the Route I-495 South submarket consists of 16,202,000 square feet of Warehouse space and was 16.1% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “indSTATus – Greater Boston Summer 2007”]

About Liberty Companies
Liberty Companies, located at One Liberty Square in Boston's Financial District, is a pioneer in outside-the-box strategies for acquiring, redeveloping and marketing under-performing or surplus commercial property. Our skilled management team has over 50 years of combined experience in developing and marketing more than 30 million square feet — valued at more than $1 billion — of industrial, manufacturing, office, R&D, and retail properties throughout the U.S. Currently, we manage more than 5 million square feet of industrial and office properties located primarily in New England. www.libertycompanies.net.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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NORMANDY REAL ESTATE PARTNERS BEGINS RENOVATION AND REPOSITIONING OF MARLBOROUGH TECHNOLOGY PARK
Millions Planned For Upgrades as Office Space Demand Increases Along I-495

MARLBOROUGH, MASS. (July 23, 2007) — Normandy Real Estate Partners, one of the largest real estate owners and operators in the Boston to Washington, D.C. corridor, recently began a multi-million dollar renovation and repositioning project on Marlborough Technology Park in Marlborough, MA. The project is expected to be complete by 4th quarter 2007. Richards Barry Joyce & Partners is the exclusive broker for this property and Normandy Real Estate Management is the on-site property manager. The Walsh Co. is acting as owner’s representative and is overseeing the construction project while Cube 3 Studio LLC is the architect.

Marlborough Technology Park is an 85-acre campus with 573,576 square feet of office and lab space in seven two-story buildings. The campus is master planned and can accommodate an additional 270,000 square feet of development.  It is located on Nickerson Road in Marlborough off I-495 with easy access to all major routes in the MetroWest Region in all directions, including the Massachusetts Turnpike, I-290, Route 128 and Route 9. 

Normandy acquired the park in 2006 from Morgan Stanley Real Estate and changed the name to better reflect the park’s excellent tenant roster and its location in one of the nation’s most densely populated technology corridors.  Current tenants include Rockwell Automation, Mentor Graphics Corporation and Iquum Inc.  Marlborough Technology Park is unique in that it can accommodate all sizes of tenants, from 8,000 square feet to more than 104,000 square feet. 

“As rents increase along Route 128, companies are beginning to look for space further north and west,” says Raymond P. Trevisan, a principal in Normandy Real Estate Partners who overseas the leasing of the firm’s portfolio.  “We are investing in upgrades and new amenities to give prospective tenants the most desirable office space along I-495.”

The multi-million dollar investment includes new landscaping, renovated lobbies, exterior signage, a full-service cafeteria, fitness center with showers and lockers, executive conference meeting center, and an on-site property management office. 

“In evaluating the acquisition, we recognized there were limited amenities in the boroughs,” says Justin Krebs, a principal in Normandy Real Estate Partners who overseas the firm’s portfolio in the Greater Boston area. “Properties that offer a wide range of quality services have been leasing rapidly, a reflection of employers wanting to be able to compete in the tight labor market.”

Marlborough has attracted many of I-495’s and the region’s most successful and prominent corporations in a diverse variety of industries. Route 20 and the surrounding area provide many amenities including eight hotels, day care, sit-down and fast food restaurants, fitness/athletic facilities and a large regional mall at Solomon Pond with more than 115 stores, including major retailers and restaurants.

The Richards Barry Joyce & Partners team assigned to this project will be led by John Lashar, partner, and Paul Leone, vice president. 

About Normandy Real Estate Partners

Normandy Real Estate Partners, one of the nation’s leading privately held investment management firms, owns and operates one of the largest diversified real estate portfolios in the Northeast/mid-Atlantic region. Since its founding in 2002, Normandy has acquired a portfolio totaling more than $3 billion. The firm has been extremely active in the Greater Boston area, where it owns 32 commercial properties comprising more than 3.7 million square feet, 325 hotel rooms, and various development sites.  Most of Normandy’s holdings in the Boston area are in the Route 128 corridor. Normandy maintains its regional headquarters in Boston at 99 Summer Street, which it also owns.  

The firm targets real estate opportunities where it can leverage the whole spectrum of its fully integrated capabilities, including development, management, leasing and asset management.  Normandy is currently investing through its discretionary real estate fund which has approximately $1.8 billion in total purchasing power.  For more information visit www.normandyrealty.com.

About Richards Barry Joyce & Partners
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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Represents Northland Investment Corporation In 32,477 SF Lease

Landlord Signs Lease With Sepracor, Inc. At 33 Locke Drive, Marlborough, MA

BOSTON – July 24, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Northland Investment Corporation in the landlord’s 32,477 square foot lease extension with Sepracor, Inc. (NASDAQ: SEPR) at 33 Locke Drive, Marlborough, MA. 

The lease expands Sepracor’s presence in the building to 57,477 square feet on two floors.  The research-based pharmaceutical company, which is headquartered at another location in Marlborough, has both office and chemistry lab space in the building. 

33 Locke Drive is a two-story, brick and glass building, consisting of 60,477 square feet of office and R&D space.  The building is located within the heart of the high technology and biotechnology corridor along Route I-495. 

“Northland is very pleased to be able to support Sepracor’s continuing expansion needs at 33 Locke Drive,” said Paul Leone, vice president, Richards Barry Joyce & Partners.  “The building’s proximity to Sepracor’s other facilities plus the heavy in-place laboratory infrastructure makes it a very practical and efficient choice for the tenant.” 

Paul Leone, John Lashar and Michael Frisoli of Richards Barry Joyce & Partners represented Northland Investment Corporation in the transaction.  Sepracor was represented by Joseph Fallon and Eric Foster of FHO Partners. 

According to research by RBJ, the Route I-495 West submarket consists of 16,804,000 square feet of office space and was 17.3% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”]

About Northland Investment Corporation
Founded in 1970, Northland Investment Corporation is a privately held, fully integrated real estate company focused on the acquisition, development, operation and long-term ownership of multifamily and commercial real estate throughout the United States. Northland owns a $1.5 billion diversified portfolio of 14.5 million square feet of real estate, with major concentrations in New England and along the southern tier of the United States. For more information on Northland Investment Corporation, visit www.northland.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Richards Barry Joyce & Partners Brokers 46,000 SF Sublease For Luminus Devices, Inc.

High Technology Company To Sublease Space From GE Sensing
At 1100 Technology Park, Billerica, MA

BOSTON – July 17, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a new 46,000 square foot sublease on behalf of Luminus Devices, Inc., at 1100 Technology Park (Billerica, MA). 

Luminus Devices, which develops and manufactures high performance solid state light emitting devices and systems for the television market, will occupy space on the second and third floors of 1100 Technology Park.  The space will be used for administrative offices and research and development.  The company is subleasing space from GE Sensing, a world leader in advanced measurement and sensor-based technology solutions, and a division of GE (NYSE: GE). 

“The 128 North submarket has a high density of technology companies,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “Sub-leasing arrangements between two high-tech companies are not unusual because the building set-up and infrastructure have already been optimized for similar uses.” 

Jonathan Varholak and John Wilson, partners at Richards Barry Joyce & Partners, represented Luminus Devices in the lease.  GE Sensing was represented by Torin Taylor of Cushman & Wakefield.  The primary landlord of the building is Beacon Properties Corporation. 

According to research by RBJ, the Route 128 North submarket consists of 24,129,000 square feet of office space and was 23.0% vacant, as of the quarter ended June 30, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2007”.]

About Luminus Devices, Inc.
Luminus Devices, Inc., headquartered in Woburn, Massachusetts, develops and manufactures high performance solid state light emitting devices and systems. Its PhlatLight (Photonic Lattice) technology, developed by Luminus Devices based on research done at MIT, is the only solid state light source powerful enough to illuminate large screen projection televisions. With PhlatLight chipsets in commercial production, Luminus is leading the industry in designing this new, powerful light source for a variety of applications, including microdisplay projection TVs and other advanced, high-definition displays. Several leading television and consumer electronics companies are currently selling TVs with PhlatLight products. For more information, visit www.luminus.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Greater Boston Office Market Continues To Tighten, According To Richards Barry Joyce & Partners

Vacancy Rate Across Greater Boston Drops 0.9% To 14.3%, Indicating Strength Of Market

Boston, MA – July 11, 2007 – According to Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm, the Greater Boston office market showed continued signs of strengthening in the second quarter of 2007, with vacancy rates dropping 0.9% to 14.3% and average asking lease rates increasing $0.89 to $38.58 per square foot.  The firm released the findings in officeSTATus – Greater Boston Summer 2007, the leading research report for gathering intelligence on the Greater Boston office market.

officeSTATus reports that vacancy for premier Class A office space is 11.0 percent, and absorption, defined as the net change in the amount of space occupied, has reached record levels in many different ways.  For Q2 2007, 1.6 million square feet of office space was absorbed and 5.1 million square feet absorbed over the last four quarters, the most in any four-quarter period since 2001.

The absorption levels are most dramatic in the places that RBJ has termed “hot” areas.  Areas such as Boston’s Back Bay, East Cambridge and Waltham are 9.6% vacant and account for 70% of all absorption since Q3 2006.  One significant chart in officeSTATus shows the timeframe when vacancy would hit zero in certain geographies were the current absorption rates to continue.  East Cambridge, for example, would run out of office space next year and Burlington by 2010. 

“Greater Boston’s office market is very strong, as of the close of the second quarter,” said Brendan Carroll, RBJ’s vice president of research.  “And while certain areas are certainly stronger than others, we are really seeing positive indicators in all segments of the market.  We’re still not at historic rates for vacancy and absorption, but we are continuing in that direction.”

Designed for real estate decision makers, officeSTATus is concise and easy-to-read.  The executive summary page provides an overview of some of this quarter’s most notable findings.  Sections on each primary submarket – Downtown, Cambridge, Route 128, and I-495 – deliver more in-depth analysis and the “Economy & Real Estate” section provides a broader context for the data.  This quarter’s “Market Interesting” section, delves into the hot topic of “green buildings.”  The green building analysis was co-developed by RBJ and TSOI/Kobus & Associates.  The final page comprises a single chart with the primary metrics (vacancy, market size, absorption and availability) in one location for easy reference.

To request a copy of RBJ’s officeSTATus – Greater Boston Summer 2007, please send an email to research@rbjrealestate.com. 

RBJ Research Publications
officeSTATus is the flagship publication in RBJ’s family of eleven quarterly research reports.  In addition to officeSTATus, RBJ publishes: flexSTATus, which highlights Flex property types; indSTATus, which focuses on Industrial property types; and individual marketSTATus reports on eight critical sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year.  In total, the firm produces an industry-leading 46 reports per year, in addition to custom research projects for clients. 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers Brokers 19,178 SF Lease For New England Home Therapies, Inc.

Health Services Company Extends Its Lease At 337 Turnpike Road, Southborough, MA

Boston, MA – July 3, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a 19,178 square foot lease extension for New England Home Therapies, Inc. at 337 Turnpike Road in Southborough, MA. 

337 Turnpike Road, which is part of Southborough Technology Park, is New England Home Therapies’ corporate headquarters.  Additionally, the building operates as a distribution center for the health services company.  KS Partners, LLC is the building’s landlord. 

“Southborough’s central location provides New England Home Therapies with excellent access to its clients and distribution channels,” said Paul Leone, vice president, Richards Barry Joyce & Partners.  “Additionally, by extending its lease at 337 Turnpike Road, the company avoids the costs and business disruptions of relocating.”

Paul Leone, vice president, and John Lashar, partner, of Richards Barry Joyce & Partners represented New England Home Therapies in the transaction.  KS Partners was represented by Wayne Spiegel of NAI Hunneman. 

According to research by RBJ, the Route I-495 West submarket consists of 16,749,000 square feet of office space and was 17.9% vacant, as of the quarter ended March 31, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston First Quarter 2007”]

About New England Home Therapies, Inc.
New England Home Therapies is a leading regional provider of home infusion therapy, home enteral and respiratory care as well as sales of durable medical equipment. They service patients throughout New England through a network of satellite offices. Their parent company is Critical Homecare Solutions of Conshohocken, PA. For additional information call John Consoletti, Division President at (508) 480-8409.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 180,200 SF Lease Renewal On Behalf Of MM Industrial Beeman Road, LLC

Landlord Extends FedEx SmartPost, Inc. For Warehouse / Distribution Space
In Northborough, MA

Boston, MA – June 26, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, has announced that it represented MM Industrial Beeman Road, LLC in the landlord’s 180,200 square foot lease renewal with FedEx SmartPost, Inc. at One Beeman Road in Northborough, MA.

FedEx SmartPost uses the building as a warehouse and distribution facility.  FedEx SmartPost, part of FedEx Corporation (NYSE: FDX), specializes in the consolidation and delivery of high volumes of low-weight, less time sensitive business-to-consumer packages using the United States Postal Service for final delivery to residences. 

One Beeman Road is a 342,900 square foot warehouse and distribution building.  The facility offers 22’-30’ ceilings and provides active rail access.

“One Beeman Road is an excellent match for FedEx SmartPost,” said Paul Leone, vice president Richards Barry Joyce & Partners.  “The building’s central location and design suits the tenant’s operational and regional distribution needs very well.  Additionally, this lease renewal allowed both parties to extend what has been a very good business relationship.”

John Lashar, partner, and Paul Leone, vice president, of Richards Barry Joyce & Partners represented MM Industrial Beeman Road, LLC in the transaction.  RBJ is the exclusive leasing agent for the building.  FedEx SmartPost was represented by Kirk Bittel of Fischer & Co. 

According to research by RBJ, the Route I-495 West submarket consists of 6,794,000 square feet of Warehouse space and was 20.7% vacant, as of the quarter ended March 31, 2007.  [source:  Richards Barry Joyce & Partners’ “indSTATus – Greater Boston First Quarter 2007”]

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 49,261 SF Lease For Wyeth At Ballardvale Office Park

Pharmaceutical And Health Care Company Signs New Lease In Wilmington

BOSTON – June 20, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it has brokered a new 49,261 square foot lease between Wyeth (NYSE:WYE) and VIF/Ballardvale 200, LLC, for office space in Ballardvale Office Park (200 Ballardvale Street, Wilmington, MA). 

Wyeth, one of the world’s largest research-driven pharmaceutical and health care products companies, is moving to the fourth floor of Building One, a 200,000 square foot office building in the four-building park.  Building One features a full-service cafeteria, with a large seating area, flat screen television monitor, and free WiFi access, as well as a new fitness center with state-of-the-art equipment and locker room facilities.  The company is relocating from Building Three in the park. 

Ballardvale Office Park is owned by Griffith Properties and its partner AEW Capital Management, L.P.  The 550,000 square foot park offers premier frontage along Route I-93 and is located at the intersection of I-93 and Route 125.  Tenants and visitors have excellent access to Route 128/95, Route I-495 and Route 3.  The campus is less than 20 minutes from downtown Boston and Logan International Airport.  Highway access is expected to be even more convenient with the planned installation of a new on-ramp adjacent to the property. 

“Wyeth was attracted to Ballardvale Office Park due to its amenity package, visibility and excellent highway accessibility,” said Brian McKenzie, partner, Richards Barry Joyce & Partners.  “The park offers a first-class environment, which is attractive to companies of all sizes.” 

Brian McKenzie, partner, and James Lipscomb, vice president, of Richards Barry Joyce & Partners represented VIF/Ballardvale 200, LLC.  Wyeth was represented by John Wilson, partner, of Richards Barry Joyce & Partners and Tom McCann, senior vice president, of The Garibaldi Group. 

Richards Barry Joyce & Partners is the exclusive leasing agent for Ballardvale Office Park.  The Park currently has the ability to accommodate tenants from 3,000 to 150,000 square feet. 

About AEW Capital Management, L.P.
Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide.  Currently, AEW and its affiliates manage over $34 billion of gross real estate assets and securities on behalf of many of the world’s leading institutional and private investors.  The firm actively manages portfolios in both the public and private property markets and across the risk/return spectrum.  AEW and its affiliates have offices in Boston, Los Angeles, Singapore, Paris, London, Barcelona, Milan, Stockholm, Luxembourg, Düsseldorf, Warsaw, Budapest and Prague.

About The Garibaldi Group
The Garibaldi Group is a full-service, global real estate firm now in its ninth decade of operation.  With offices in Chatham and Princeton, New Jersey, as well as in Lehigh Valley, Pennsylvania, the firm’s extensive services include real estate consulting and brokerage services, financial services, lease administration, project management /development and property/construction management.

For more information, please contact The Garibaldi Group at 973-635-0303 or visit www.garibaldi.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Represents Taming Of The Shrewsbury, LLC In 46,350 SF Lease

Valeritas, LLC Signs New Regional Headquarters Lease
At 800 Boston Turnpike Road, Shrewsbury, MA

BOSTON – June 19, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Taming of the Shrewsbury, LLC, an affiliate of VinCo Properties, Inc., in a 46,350 square foot lease at 800 Boston Turnpike Road, Shrewsbury, MA.  The landlord entered into a new lease with Valeritas, LLC, a medical technologies company serving the diabetes market through its proprietary drug delivery systems. 

The lease shall serve both office and laboratory functions in the single-story building.  800 Boston Turnpike Road will become the new regional headquarters for Valeritas, which will relocate from 155 Flanders Road, Westborough. 

“We are pleased to have attracted an excellent tenant like Valeritas,” said Vince O’Neill, president of VinCo Properties, Inc.  “The building has a significant laboratory infrastructure already in place and also offers terrific visibility, which we believe were major factors in Valeritas’ decision.” 

800 Boston Turnpike is an 80,000 square foot, mixed-use facility, with office, research/laboratory and warehouse/manufacturing space.  The building, which is prominently situated on the eastbound side of Route 9, is centrally located within the metrowest area and offers excellent access to Route I-495.  There is currently 33,650 square feet of space available and Richards Barry Joyce & Partners is the exclusive leasing agent for the project.

John Lashar, Brian McKenzie, and Paul Leone of Richards Barry Joyce & Partners represented Taming of the Shrewsbury in the transaction.  Lashar and Leone of RBJ represented Valeritas. 

According to research by RBJ, the Route I-495 West submarket consists of 16,749,000 square feet of office space and was 17.9% vacant, as of the quarter ended March 31, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston First Quarter 2007”]

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 60,885 SF Lease Between Xcellerex, Inc. And Davis Marcus Partners

Xcellerex Expands Corporate Headquarters At 150-170 Locke Drive, Marlborough, MA

Boston, MA – June 12, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a 60,885 square foot lease between Xcellerex, Inc. and Davis Marcus Partners at 150-170 Locke Drive in Marlborough, MA. 

Under the terms of the lease, Xcellerex will expand its space at 150-170 Locke Drive by 20,885 square feet.  The building, which consists of 120,000 square feet of office, manufacturing and R&D space, serves as the company’s corporate headquarters.  Xcellerex offers contract services for bioprocess development and manufacturing. 

“By expanding its presence at 150-170 Locke Drive, Xcellerex has satisfied its need for additional space while avoiding the sacrifice of operational efficiencies that often accompany a corporate move,” said Paul Leone, vice president, Richards Barry Joyce & Partners.  “The lease is similarly welcome to Davis Marcus Partners, which retains a top-tier tenant in its property.”

Michael Frisoli and Robert Richards, partners, of Richards Barry Joyce & Partners represented Xcellerex, Inc. in the transaction.  Paul Leone, vice president, and John Lashar, partner, of Richards Barry Joyce & Partners represented Davis Marcus, working with Bill McAvoy and Duncan Gilkey of Davis Marcus Partners. 

RBJ is the exclusive leasing agent for 150-170 Locke Drive, and the project is fully leased.

According to research by RBJ, the Route I-495 West submarket consists of 16,749,000 square feet of office space and was 17.9% vacant, as of the quarter ended March 31, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston First Quarter 2007”]

About Davis Marcus Partners
Davis Marcus Partners has an established reputation for integrity, creativity, and expertise in the development and ownership of high quality commercial property in its core markets. In just the last five years, the developments of Davis Marcus Partners have exceeded $365 million in five projects with acquisitions totaling 1.2 million square feet in the last 12 months. Currently, we have an additional $200 million in development underway.  Our asset and property management group has also grown. We currently manage over 4.5 million square feet. We have a strong, hands-on management team with attention to detail and respect for our tenants as partners. The firm currently has offices in Boston, Massachusetts, Norwalk, Connecticut, and Naples, Florida.  For more information, please visit our website at www.davismarcus.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Announces New Additions To The Brokerage Team

Two Experienced Brokers Strengthen RBJ’s Suburban And Cambridge Teams

Boston, MA – June 6, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced the addition of two experienced brokers to the firm.  Jay Nugent, vice president, and Eric Smith, assistant vice president, have joined RBJ’s Suburban and Cambridge leasing groups, respectively.

“Jay and Eric each bring to RBJ a unique set of strengths that will help us advance our tenant and landlord clients’ business goals with considered real estate counsel,” said Robert Richards, president, RBJ.  “We are pleased to bring on board two all-stars who will certainly make an immediate impact on RBJ and, more importantly, our client partners.” 

Jay Nugent joins RBJ as a vice president in the Suburban leasing group.  He comes to the firm from Jones Lang LaSalle, where he was an assistant vice president.  During the past six years he has been involved in the lease and sale of more than four million square feet of space, with such notable clients as Comcast Corporation, MRO Software, GPC Biotech, Kurzweil Educational Systems, Cato Research, ING Clarion, Normandy RE Partners and Saracen Properties.  He has been consistently recognized by the Commercial Brokers Association as a member of their multi-million dollar leasing club.  Mr. Nugent earned a B.S. from Arizona State University.  He is a member of the Greater Boston Real Estate Board and volunteers with Big Brothers of Massachusetts. 

Eric Smith is an assistant vice president with RBJ’s Cambridge leasing group.  Prior to joining RBJ, he was with CB Richard Ellis/New England, where he worked with clients such as Alexandria Real Estate Equities, AEW Capital Management, New Boston Fund, the Massachusetts Institute of Technology, Alinea Pharmaceuticals, Biomodels and Gene Network Sciences. Before starting his career in commercial real estate brokerage, Mr. Smith was a member of the international sales team at N.O.S.C. Corp., a Boston-based consulting corporation.  He graduated from the University of Vermont and is a member of the Greater Boston Real Estate Board. 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers Sale Of Forge Park Portfolio In Franklin, MA

Six-Building Portfolio Sold By UBS To Colony Realty Partners

Boston, MA – May 29, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered the sale of the six-building Forge Park portfolio in Franklin, MA on behalf of an investor portfolio advised by the US real estate business of UBS Global Asset Management.  The buildings were purchased by Colony Realty Partners. 

The 619,374-square-foot portfolio consists of three flex and three distribution buildings – 8, 9, 10, 15, 20 and 22 Forge Park – in one of the region’s best known industrial parks.  The portfolio is currently 75% leased, with tenants that include General Cable, National Grid, Thermo Fisher Scientific, and Draka. 

“The portfolio is a highly appealing mix of product in one of the premier flex/industrial parks on Route I-495,” said Richard Herlihy, executive vice president, Richards Barry Joyce & Partners.  “The sale of the park was hotly contested by some of the market’s premier institutional investors due to its size, quality and credit tenancy.”

In the transaction, Richard Herlihy, Richard Bradbury, John Lashar and Paul Leone of RBJ represented the seller, and procured the buyer.

About UBS Global Asset Management, Global Real Estate - US
With over 28 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management Global Real Estate has approximately $16 billion under management on behalf of over 240 clients. A multi disciplined real estate organization with staff of approximately 175, it is headquartered in Hartford, Connecticut with regional offices in San Francisco, Dallas and New York.  In addition to its US real estate business, UBS Global Asset Management, Global Real Estate also manages investments in Europe, Asia and Australia, totaling over $42 billion in real estate and real estate securities worldwide.  In the US it operates through its legal entity, UBS Realty Investors LLC, a registered investment advisor.

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers $32.35 Million Building Sale

Represents ING Clarion In Sale Of 70 Innerbelt Road, Somerville, To The Carlyle Group

Boston, MA – May 15, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that it brokered the sale of 70 Innerbelt Road, Somerville, MA, for $32.25 million ($116.72/SF).  The firm represented the seller, ING Clarion, and procured the buyer, The Carlyle Group.  

70 Innerbelt Road is a hybrid building comprising 276,302 square feet of high-tech tel/data and high-bay warehouse space.  The building offers one of the largest contiguous blocks of high-bay warehouse space in the Inner Suburban market and features a highly sophisticated telecommunications infrastructure, with multiple fiber optic feeds, heavy electrical power and back-up generator capacity.

The building is more than 80% leased with a strong mix of tenants such as Internap Network Services Corporation (NASDAQ: INAP), Hannaford Bros. Co. and the Museum of Fine Arts.  The building currently has approximately 50,000 square feet of direct space available.

“70 Innerbelt Road was positioned well to take advantage of improving market fundamentals in both the industrial and tel/data sectors,” said Richard Bradbury, vice president, Richards Barry Joyce & Partners.  “Investor interest was robust, with industrial and tel/data investors competing for the asset. Eventually, Carlyle, an entity with a strong background in both sectors, prevailed.”

In the transaction, Richard Herlihy, Richard Bradbury and Steven Purpura of RBJ represented the seller and procured the buyer.  Richards Barry Joyce & Partners is also the exclusive leasing agent for the building.

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

About ING Clarion
Founded in 1982, ING Clarion and its affiliates manage more than $48 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets.  Headquartered in New York, the ING Clarion organization has more than 600 employees located in major markets throughout the United States.  The firm is the U.S. investment management arm of ING Real Estate.

About ING Real Estate
ING Real Estate is an integrated real estate group focused on the development, financing and investment management of quality real estate in all major global markets with a total portfolio of some USD 120 billion. ING Real Estate ranks among the world’s leading real estate companies and serves a broad client base from offices in 21 countries in Europe, North America, Asia and Australia.

ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries.

More information about the firm is available at www.ingclarion.com.

About The Carlyle Group

North America, focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, technology & business services and telecommunications & media. Since 1987, the firm has invested $26.4 billion of equity in 601 transactions for a total purchase price of $126.5 billion. The Carlyle Group employs more than 780 people in 18 countries. In the aggregate, Carlyle portfolio companies have more than $87 billion in revenue and employ more than 286,000 people around the world. www.carlyle.com

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Richards Barry Joyce & Partners Releases “bioSTATus Q1 2007”

Biotechnology Real Estate Report Released As BIO International Convention Hits The Hub

Boston, MA – May 7, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm based in Boston, has released “bioSTATus Q1 2007”, an in-depth research report on Greater Boston’s biotechnology research-focused real estate.  The report comes to market just as the city of Boston kicks off the BIO International Convention. 

According to the report, vacancy rates for Laboratory space in Greater Boston have dropped to 11.3% for the two-quarter period ending March 31, 2007.  This is a slight decline from the last reporting period (11.9% as of September 30, 2006).  The Cambridge sub-market, which is one of the world’s densest biotechnology areas, has a vacancy rate of 9.6%, down nearly five percentage points year-to-year (14.5% as of March 31, 2006). 

“Greater Boston continues to exert its position as a world-class location for biotechnology research operations,” said Brendan Carroll, director of research at Richards Barry Joyce & Partners.  “Cambridge and Boston both witnessed laboratory vacancy declines as we expect to see for the Suburbs in 2007.  The region’s value proposition as the area for biotechnology companies remains unmatched.” 

The report notes that the numbers of Phase I and Phase III Clinical Trials being conducted by Greater Boston biotech companies have both increased.  The RBJ Clinical Growth Index tracks the number of National Institute of Health clinical trials being conducted by area companies and which of the four Phases they are in. 

About bioSTATus
RBJ has been publishing “bioSTATus” since 2002 and the report has become the leading research publication focusing on biotechnology real estate.  The report delivers pertinent real estate figures, such as vacancy, availability and absorption rates for the laboratory market in Greater Boston as well as the Cambridge, Boston and Suburbs submarkets.  The report also provides business context around the figures, making it an indispensable tool for following the Greater Boston biotechnology market

To request a copy of the report, please send an email to research@rbjrealestate.com.  In addition to bioSTATus, RBJ also publishes quarterly Office, Industrial and Flex reports, covering all submarkets, and quarterly MarketSTATus reports for the following submarkets: 128 North, 128 West, 128 South, 495 North, 495 West, Cambridge, Back Bay and the Financial District.  Also the unique RBJ Clinical Growth Index shows the status of locally conducted NIH trials in each of the four phases.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Named Exclusive Leasing Agent For 400 Crown Colony Drive, Quincy, MA
UBS Selects Firm To Lease 120,000 Square Foot Office Building

Boston, MA – May 3, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it was selected by the US real estate business of UBS Global Asset Management as the exclusive leasing agent for 400 Crown Colony Drive in Quincy, MA. 

400 Crown Colony Drive consists of approximately 120,000 square feet of Class A office space.  The building was constructed in 1988 and underwent a major renovation last year.  UBS plans more building upgrades including the addition of food service, renovating certain common areas and pre-building additional suites.  Current tenants in the building include the Patriot Ledger newspaper and MetLife, Inc. 

The building is part of the master-planned Crown Colony Office Park.  The park is prominently situated on a hill at the junction of I-93, Route 128 and Route 3 South, providing convenient access to Downtown Boston and many suburban communities.  A wide range of amenities in the park include a Marriott Hotel, day care and shuttle service to the nearby Quincy Adams MBTA Red Line Station.  Well known park tenants include Arbella Insurance Group, Harvard Pilgrim Health Care, State Street Corporation and Boston Financial Data Services. 

“The Rt. 128 South market has experienced a high level of leasing activity over the past several quarters,” said Michael Frisoli, partner, Richards Barry Joyce & Partners.  “The ability to accommodate a wide range of tenants at a building located in a Class A park makes 400 Crown Colony Drive a strong option in the marketplace.”

The RBJ team assigned to the project includes partner Michael Frisoli and associate Cal Hudak.  There is currently 73,922 square feet of available space, subdividable to 1,000 square feet. 

About UBS Global Asset Management, Global Real Estate
With over 28 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management Global Real Estate has approximately $16 billion under management on behalf of over 240 clients. A multidisciplined real estate organization with staff of approximately 175, it is headquartered in Hartford, Connecticut with regional offices in San Francisco, Dallas and New York.  In addition to its US real estate business, UBS Global Asset Management, Global Real Estate also manages investments in Europe, Asia and Australia, totaling over $42 billion in real estate and real estate securities worldwide.  In the US it operates through its legal entity, UBS Realty Investors LLC, a registered investment advisor.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers Sale Of Devens Industrial Park For $43.75 Million

Two Buildings Are Occupied By Gillette, A Division Of Procter & Gamble

Boston, MA – April 30, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered the sale of the Devens Industrial Park (Devens, MA) for $43.75 million (734,620 square feet; $59.55/SF) for Intercontinental Real Estate Corporation, on behalf of Intercontinental Real Estate Investment Fund III, LLC.  The two-building park, which is fully leased to Gillette, was purchased by CrossHarbor Capital Partners. 

Devens Industrial Park is comprised of two interconnected buildings.  18 Independence Drive is a 324,620 square foot warehouse and packaging facility.  66 Saratoga Boulevard is a 30' clear distribution warehouse, consisting of 410,000 square feet.  The two buildings are linked by an automated connector and act as a single, state-of-the-art packaging and distribution facility for Gillette’s South Boston razor blade manufacturing facility.  Both buildings are currently under lease to Gillette.

Devens Industrial Park is part of Devens Commerce Park, which is the former Fort Devens Army Base.  Devens Commerce Park totals 4,000 acres, including more than 1,300 acres of conservation land, a retail center, recreational facilities, a golf course and a residential community. 

“We saw tremendous interest in Devens Industrial Park during the offering period,” said Richard Herlihy, executive vice president, Richards Barry Joyce & Partners.  “There is generally a lack of new high-bay warehouse/distribution and manufacturing space available in Eastern Massachusetts, which made these buildings unique to the region and appealing to many buyers.” 

In the transaction, Richard Herlihy, Richard Bradbury and John Lashar of RBJ represented the seller, Intercontinental Real Estate Corporation and procured the buyer. RBJ has also been engaged as leasing agent for the building.

About Intercontinental Real Estate Corporation
Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has built, developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental manages a portfolio in excess of $1.6 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects. www.intercontinental.net

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 investment sales, market analysis, leasing, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers $16.3 Million Building Sale In Boston’s Seaport District

Represents Archon Group, LP In Sale Of 268 Summer Street To Aegean Capital LLC

Boston, MA – April 17, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered the sale of 268 Summer Street, in Boston’s Seaport District, for $16.3 million ($240.24/SF) on behalf of Archon Group LP. 

The sale represents the first acquisition in the Boston Market for Aegean Capital LLC, whose founder Constantine Alexakos was one of the cofounders of Everest Partners.

“Investor interest in 268 Summer Street and the Seaport in general has been extraordinary,” said Richard Herlihy, executive vice president, Richards Barry Joyce & Partners.  “Aegean Capital distinguished themselves both with pricing and terms that were very appealing to Archon.” 

In the transaction, Richard Herlihy, Richard Bradbury and Thomas Ashe of RBJ represented the seller, Archon Group, LP and procured the buyer. RBJ will also remain the leasing agent for the building.

About Archon Group, L. P.

Archon Group, L.P. is building value worldwide as an international, full-service commercial real estate investment and management company.  A wholly-owned subsidiary of The Goldman Sachs Group, Inc., Archon’s global team of 2,500 professionals currently manages investments totaling more than $14 billion in North America, Asia and Europe.  On behalf of Whitehall Street Real Estate funds and others, Archon has completed more than 140 portfolio and single-asset transactions in a dozen countries. www.archongroup.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Greater Boston Office Market Vacancy Rates Drop, Asking Lease Rates Rise, According To Richards Barry Joyce & Partners

Class A Asking Lease Rate Of $37.69 Is 13% Higher Than Just Two Quarters Ago

Boston, MA – April 3, 2007 – According to Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm, vacancy rates dropped to 15.2% and asking lease rose in the Greater Boston office market during the first quarter of 2007.  The findings were released today in the firm’s officeSTATus – Greater Boston First Quarter 2007 report. 

The average asking lease rates for Class A office space spiked $1.92 to $37.69 across the market.  The rate is 13% higher than just two quarters ago.  The market experienced 810,000 square feet of positive absorption, lowering the vacancy 0.9% to 15.2%.  This marks the fifth consecutive quarter with positive absorption. 

Each quarter RBJ’s office report features the “Market Interesting” section, which offers unique analysis on a market phenomenon.  This quarter the research quantifies the commercial office real estate recovery in Greater Boston, including inferences that may be drawn from a correlation between decreasing vacancy rates and increasing lease rates. 

“The first quarter of 2007 continued the trend of lowering vacancy and increasing lease rates,” noted Brendan Carroll, director of research at RBJ.  “It was certainly a strong quarter, particularly for landlords, as the balance of negotiating power continues to shift in their direction.”

officeSTATus – A New Name

The Q1 2007 report is the inaugural issue under the new name of officeSTATus.  The report is part of a family of research products delivered by RBJ.  The firm offers an industry-leading 46 reports each year.  In addition to officeSTATus, there are ten other quarterly reports:  flexSTATus, which highlights Flex property types: indSTATus, which focuses on Industrial property types; and individual marketSTATus reports on eight critical sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year.

To request a copy of RBJ’s officeSTATus – Greater Boston First Quarter 2007, please send an email to research@rbjrealestate.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 54,736 SF Lease Between The Gutierrez Company And Zoran Corporation

 Lease Is Third In Three Months At One Wall Street In Burlington, MA

BOSTON – April 2, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a new, 54,736 square foot lease between The Gutierrez Company and Zoran Corporation at One Wall Street, Burlington, MA. 

Zoran’s Imaging Division will be relocating to One Wall Street from its current location at 10 Presidential Way in Woburn, MA.  The division will occupy office space on the third and fourth floors. 

The Gutierrez Company, which provides a full range of real estate development services, has attracted three new tenants to One Wall Street in as many months.  Zoran joins Openwave Systems (37,207 square feet) and Nuance Communications (28,783 square feet) as new tenants in the building.  The 120,726 square feet in new leases brings the building to 80% occupancy, with 24,000 square feet available on the first floor (subdividable to 10,000 square feet), and 7,000 square feet available on the fifth floor.  Richards Barry Joyce & Partners is the exclusive leasing agent for the building. 

One Wall Street consists of 192,000 square feet of Class A office space and is the flagship building in the Burlington Office Park.  The building offers excellent visibility from and access to Route 128 and Route 3A.  One Wall Street was recently renovated and features a new lobby, a fitness center with lockers and showers, and new food service.  Nearby amenities include restaurants and the Burlington Mall. 

Jonathan Varholak, partner, and Ron Friedman, vice president, of Richards Barry Joyce & Partners represented The Gutierrez Company in association with Bob Morgan, director of leasing for The Gutierrez Company .  Zoran Corporation was represented by Brian McKenzie, partner, of Richards Barry Joyce & Partners and George Fox, executive vice president, of Studley, out of Studley’s California office. 

According to research by RBJ, the Route 128 North submarket consists of 24,129,000 square feet of office space and was 24.3% vacant, as of the quarter ended March 31, 2007.  [source:  Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston First Quarter 2007”]

About The Gutierrez Company

Since 1978, The Gutierrez Company (www.gutierrezco.com) has provided a full range of real estate development services including site selection, master planning, project management, design coordination, financing, construction services and property management.  The strongest characteristics of The Gutierrez Company are our in-depth capabilities within each phase of the development process. Whether we are joint-venturing a single building with a land owner, developing an office park for our own account, or constructing a customized building according to a user’s specifications, all of the vital services needed for each development are provided in-house.  The Gutierrez Companies has developed over 8.5 million square feet of office, research and development, and retail space in suburban Boston and southern New Hampshire for various international, national, and regional tenants. We currently own and manage a building portfolio of over 4.2 million square feet of research and development, office and retail space. We have land to develop an additional 11 million square feet of space.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers Two Life Sciences Leases In Greater Boston Suburbs

Recent Leases Illustrate Trend Of Suburbs’ Appeal To Life Sciences Companies

BOSTON – March 28, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it has completed two life sciences-related leases, totaling 33,900 square feet.  The leases in Bedford and Lexington illustrate the trend of life sciences firms’ growing interest in the Greater Boston suburbs. 

“Cambridge and Boston still remain the primary locations for life sciences companies in the Greater Boston area,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “The suburbs, however, are increasingly attracting more life sciences firms, due in part to space crunches in Cambridge and Boston and a comparatively lower lease cost.” 

Details of the two leases include: 

Syntonix Pharmaceuticals – RBJ represented Syntonix Pharmaceuticals in a 25,200 square foot lease renewal for their corporate headquarters at 9 Fourth Avenue in Lexington, MA.  Syntonix, a biopharmaceutical company focused on discovering and developing long-acting therapeutic products to improve treatment regimens for chronic diseases, is a wholly owned subsidiary of Biogen Idec (NASDAQ:  BIIB).  Jonathan Varholak and Robert Richards, partners at RBJ, represented Syntonix.  J.F. White Contracting Co. is the building’s landlord.

Resolvyx Pharmaceuticals, Inc. – RBJ represented Resolvyx Pharmaceuticals in the company’s new headquarters lease at 6-8 Preston Court, in Bedford, MA.  The 8,700 square foot lease on the first floor of Preston Court represents an expansion of space from the company’s current location.  Resolvyx is a biopharmaceutical company that is committed to the discovery and development of therapies based on the novel concept of inflammation resolution through activation of the body’s own off-switch mechanisms.  Jonathan Varholak and Chris McCauley of RBJ represented Resolvyx Pharmaceuticals.  The building’s landlord is Alexandria Real Estate Equities, Inc.

According to research by Richards Barry Joyce & Partners, the Greater Boston suburban market consists of 3,788,000 square feet of laboratory space and is 20.9% vacant, as of the quarter ended September 30, 2006.  [Source:  Richards Barry Joyce & Partners’ “bioSTATus Q3 2006”.]

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers Corporate Headquarters Lease For Health Advances, LLC

Healthcare Strategy Consulting Firm Renews Lease At 9 Riverside Road, Weston, MA

BOSTON – March 13, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Health Advances, LLC, in a long-term lease renewal for the company’s headquarters at 9 Riverside Road in Weston, MA. 

Health Advances, a strategy consulting firm focused on medtech and biopharma companies, renewed its lease for 21,925 square feet.  This space represents the building’s entire second floor. 

“Health Advances services a large number of rapidly growing clients, having successfully completed more than 1,000 client engagements during its 15 years in business,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “Their lease renewal at 9 Riverside Road allows them to maintain their focus on client engagements, without the disruption of a major move, in a location convenient for both client executives and employees.” 

Jonathan Varholak, Michael Frisoli and Ron Friedman of Richards Barry Joyce & Partners represented Health Advances in the transaction.  The landlord, Liberty Mutual Insurance Company, was represented by CB Richard Ellis. 

According to research by RBJ, the Route 128 West submarket consists of 20,147,000 square feet of office space and was 14.6% vacant, as of the quarter ended December 31, 2006.  [source:  Richards Barry Joyce & Partners’ “Greater Boston Fourth Quarter 2006 Office Report”]

About Health Advances, LLC

Health Advances is a strategy consulting firm focused on the commercialization of new medical technologies.  Clients include medtech and biopharma companies ranging from startups to large public entities.  The firm employs over 45 full-time professionals with strong life sciences, clinical, and business educations and backgrounds.  Services include helping client executives make more confident decisions regarding product launches, R&D priorities, pricing, partnering, and mergers and acquisitions.  For more information, please visit the firm’s website at www.healthadvances.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Richards Barry Joyce & Partners Brokers 50,498 SF Lease For Corcoran Jennison Companies

1199SEIU United Healthcare Workers East Signs New Lease At 150 Mount Vernon Street, Boston

BOSTON – March 6, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Corcoran Jennison Companies in a 50,498 square foot lease at 150 Mount Vernon Street, Boston, MA.  The landlord signed a new lease with the 1199SEIU United Healthcare Workers East. 

1199SEIU United Healthcare Workers East is the largest healthcare workers union on the east coast and the largest local union in the world, representing more than 275,000 members and retirees.  1199SEIU will be re-locating its Roxbury, MA location to 150 Mount Vernon Street, representing a doubling of office space. 

“1199SEIU is an excellent new addition to 150 Mount Vernon Street,” said Michael Joyce, partner, Richards Barry Joyce & Partners.  “The union joins a great group of tenants.  The building continues to attract a high level of interest, given its location and large floorplates.”

150 Mount Vernon Street, which is comprised of 125,000 square feet of office space on five floors, features abundant parking and a convenient location.  The building offers direct access to Route 93 North and South and public transportation is within walking distance (MBTA Red Line, JFK/UMass station).  The building currently has 25,000 square feet of space available.  RBJ is the exclusive leasing agent for 150 Mount Vernon Street. 

Michael Joyce, partner, and Thomas Ashe, vice president, of Richards Barry Joyce & Partners represented the Corcoran Jennison Companies in the transaction.  1199SEIU was represented by Saint James Real Estate Advisors. 

According to research by Richards Barry Joyce & Partners, the Downtown Boston submarket consists of 67,370,000 square feet of office space and is 11.5% vacant, as of the quarter ended December 31, 2006 (source:  Richards Barry Joyce & Partners’ “Greater Boston Fourth Quarter 2006 – Office Report”).

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Represents Normandy Real Estate Partners In 71,869 SF Lease

Normandy Signs Lease With BT Conferencing, Inc. At 150 Newport Avenue, Quincy, MA

BOSTON – February 15, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented Normandy Real Estate Partners in the landlord’s 71,869 square foot lease with BT Conferencing, Inc. at 150 Newport Avenue, Quincy, MA. 

BT Conferencing will be moving to the third and fourth floors of 150 Newport Avenue.  The new location is an increase in space for the company, which currently occupies multiple suites at Braintree Hill Park (Braintree, MA). 

“We have been repositioning 150 Newport Avenue as a multi-tenant building, with the expected departure of State Street,” said Ray Trevisan, Principal of Normandy Real Estate Partners.  “The building’s layout, amenities and close proximity to North Quincy MBTA Station make it an attractive option for corporate tenants.  We are pleased to have an anchor tenant for the building that coincides with the departure of State Street.”

150 Newport Avenue is the first building Normandy purchased in Greater Boston.  The company has since acquired a total of 3.1 million square feet in the market.  The landlord is planning significant renovations to 150 Newport, including a new lobby, the addition of a conference facility for tenants, and a new fitness center with locker rooms.  Additionally, the cafeteria and the front and rear entrances will be updated. 

150 Newport Avenue offers easy access to public transportation, I-93 and Route 128.  The 121,329 square foot building will have 49,460 square feet of space available which can be subdivided to as small as 3,540 SF.  Richards Barry Joyce & Partners is the exclusive leasing agent. 

Michael Frisoli, partner, and Cal Hudak, associate, represented Normandy Real Estate Partners in the transaction.  BT Conferencing was represented by Meredith & Grew.

According to research by RBJ, the Route 128 South submarket consists of 11,040,000 square feet of office space and is 11.4% vacant, as of the quarter ended December 31, 2006 [source:  Richards Barry Joyce & Partners’ “Greater Boston Fourth Quarter 2006 Office Report”.]

About Normandy Real Estate Partners

Normandy Real Estate Partners, LLC is a fully integrated real estate investment management firm based in Morristown, NJ with offices regional offices in New York, Boston, and Washington, DC. Normandy currently owns and operates over 7 million square feet of office and industrial properties throughout the northeast and mid-Atlantic, including 3.2 million square feet in the Boston region.  In March 2006, Normandy closed on its current discretionary real estate fund, Normandy Real Estate Fund, L.P., with projected total purchasing power of approximately $1.8 billion.  Targeting the northeast and mid-Atlantic markets of Boston, Metro New York City, Northern New Jersey, Philadelphia, and Metro Washington D.C, Normandy is currently pursuing property investments of all types where opportunities exist to enhance value through development, repositioning, intensive management, leasing and capital improvements.  For more information, visit www.normandyrealty.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. 

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Richards Barry Joyce & Partners Represents The Gutierrez Company In New Lease With Openwave Systems

Communications Company Signs Lease At One Wall Street, Burlington, MA

BOSTON – February 12, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented The Gutierrez Company in a 37,207 square foot lease at One Wall Street, Burlington, MA.  The tenant in the transaction is Openwave Systems Inc. (NASDAQ: OPWV). 

Under the terms of the lease, Openwave Systems will be the sole occupant of the second floor of the 192,000 square foot building.  The company will be moving its regional headquarters to One Wall Street from Burlington Woods Drive, also in Burlington, MA. 

“One Wall Street has been a very active building, in terms of new leases and for overall interest,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “The interest is not surprising, given the building’s location, amenity package and recent renovations.” 

One Wall Street, which consists of 192,000 square feet of Class A office space, is the flagship building in the Burlington Office Park.  The building offers excellent visibility from, and access to, Route 128 and Route 3A.  One Wall Street was recently renovated and features a new lobby, a fitness center with lockers and showers, and new food service.  Nearby amenities include restaurants and the Burlington Mall. 

Jonathan Varholak, partner, and Ron Friedman, vice president, of Richards Barry Joyce & Partners represented The Gutierrez Company in the transaction.  RBJ is the exclusive leasing agent for One Wall Street.  Openwave Systems was represented by NAI Hunneman. 

According to research by RBJ, the Route 128 North submarket consists of 24,352,000 square feet of office space and was 25% vacant, as of the quarter ended December 31, 2006.  [source:  Richards Barry Joyce & Partners’ “Greater Boston Fourth Quarter 2006 Office Report”]

About The Gutierrez Company

Since 1978, The Gutierrez Company (www.gutierrezco.com) has provided a full range of real estate development services including site selection, master planning, project management, design coordination, financing, construction services and property management.  The strongest characteristics of The Gutierrez Company are our in-depth capabilities within each phase of the development process. Whether we are joint-venturing a single building with a land owner, developing an office park for our own account, or constructing a customized building according to a user ’s specifications, all of the vital services needed for each development are provided in-house.  The Gutierrez Companies has developed over 8.5 million square feet of office, research and development, and retail space in suburban Boston and southern New Hampshire for various international, national, and regional tenants. We currently own and manage a building portfolio of over 4.2 million square feet of research and development, office and retail space. We have land to develop an additional 11 million square feet of space.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Named Exclusive Leasing Agent For Westwood Station

Firm Selected By Cabot, Cabot & Forbes To Lease The New 1.49 Million Square Feet Of State-of-The-Art Office Space At Major Mixed-Use Development

Boston, MA – February 6, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, has been selected by Cabot, Cabot & Forbes as the exclusive leasing agent for office space at Westwood Station, which will be a master-planned, mixed-use development in Westwood, MA.                                       

Westwood Station (www.westwoodstation.com), which is also financed by Commonfund Realty Investors LLC (Wilton, CT), will offer diverse uses including commercial, retail, residential, hotel, recreational and open space.  The development is projected to offer 1.49 million square feet of office and laboratory space; 1.35 million square feet of retail space and restaurants; 1,000 residential units; and two hotels.  The retail space, which is being developed in partnership with New England Development, will include a mix of specialty retailers and high-quality restaurants, providing outstanding amenities for employees within Westwood Station. 

An important aspect of the proposed development is its excellent location.  Westwood Station will offer easy access to Route 128 and will be located right next to the MBTA’s Route 128 Station, which has both commuter rail and Amtrak service. 

The clearing of the site is underway with the recent demolition of the former General Motors building, which is the centerpiece to the development.  The demolition of 75 University Avenue, 50 Rosemont Road and 145-151 University Avenue is scheduled to begin in late spring. 

“We expect Westwood Station to have a tremendous, positive impact on the surrounding area,” said Jay Doherty, president, Cabot, Cabot & Forbes.  “Richards Barry Joyce & Partners’ unique platform, experience across multiple markets, and team structure made them the right choice for directing the leasing of Westwood Station’s commercial and medical space.”

RBJ will direct the marketing and leasing of the projected 1.49 million square feet of office space.  The RBJ team assigned to the project is Michael Frisoli, Cal Hudak, and Robert Richards.

“Westwood Station is a unique and exciting project to be involved with, given its scale, location, and support of smart growth,” said Michael Frisoli, partner, Richards Barry Joyce & Partners.  “We are seeing a high level of interest from a wide range of industries that are interested in the quality of the site as well as the amenity-rich package.  In particular, given Westwood Station’s access to public transit, the park is an excellent alternative for Boston tenants looking to save costs as Boston rents are rapidly escalating.”

About Cabot, Cabot & Forbes

Cabot, Cabot & Forbes (CC&F) is a long established developer and owner of commercial property throughout greater Boston. Originally established in 1904 as a real estate management firm, CC&F has developed in excess of 60 million square feet of office, R&D and industrial space around the United States since 1960.  This includes more than 20 million square feet of first-class office space in prime downtown locations and noted office, mixed-use projects and transit-oriented development throughout the United States.  CC&F developed the University Avenue Industrial Park, site of the planned Westwood Station development, in the 1960s and subsequently sold the lots to individual businesses.  Now, in partnership with Commonfund Realty, CC&F has acquired 135 contiguous acres of land in the Park for the development of Westwood Station.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

About Commonfund Realty Inc., Wilton, CT

Commonfund Realty is the real estate arm of Commonfund, one of the nation’s largest managers of college and university endowment funds.  Founded in 1971, Commonfund is devoted to enhancing the financial resources of educational and other select non-profit institutions including endowments, foundations and healthcare organizations through superior fund management, investment advice, treasury operations and e-procurement services.  Directly or through its subsidiaries, which include Commonfund Capital, Commonfund Treasury, Commonfund Realty, and CommonfundAsset Management Company, Commonfund manages approximately $36 billion for more than 1,600 educational institutions and foundations, representing the largest pool of educational endowment and operating funds in the world.

About New England Development, Newton, MA

New England Development (NED) has partnered with CC&F on creating an innovative, open air retail center at Westwood Station. NED was founded in 1978 by Stephen Karp, who developed the Northeast’s first enclosed mall in 1972.  NED has developed more retail space than any other New England firm and has more than 20 million square feet of retail and commercial space to its credit.  In the late 1990s, NED sold 14 of its mall properties to concentrate on the creation of the next wave of shopping center and mixed-use developments – remaining on the forefront of retail development.  Today, NED’s retail properties include, among others, CambridgeSide Galleria, Pier 4 in Boston, and Wisconsin Place, a 1.1 million-square-foot mixed-use development in Chevy Chase, MD.  In addition, the firm’s diverse portfolio features first-class office space, premium residences and upscale hotels, including the 790-room Westin Boston Waterfront.

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Richards Barry Joyce & Partners Brokers Two Building Sales Totaling $39.25 Million

Firm Brokers Sales Of 70 Franklin Street, Boston, And 80 Central Street, Boxborough

Boston, MA – January 17, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, today announced that it brokered the sales of 70 Franklin Street, Boston, and 80 Central Street, Boxborough, MA, for a total of $39.25 million. 

In Boston, RBJ brokered the sale of 70 Franklin Street on behalf of Cornerstone Real Estate Advisers.  The 84,442 square foot office building was purchased by Westport Point Capital, LLC, for $21.5 million.  Richard Herlihy and Richard Bradbury of RBJ represented the seller and procured the buyer. 

RBJ also represented Kennedy Associates in the sale of 80 Central Street, Boxborough.  The building was purchased for $17.75 million.  The new owner of the 149,528 square foot building, KBS Realty Advisers, also named RBJ the exclusive leasing agent for the building.  Richard Herlihy and Richard Bradbury of RBJ represented the seller and procured the buyer in the sales transaction.  The RBJ team assigned to leasing the building includes partners John Wilson and Brian McKenzie and vice president James Lipscomb.

“The investment sales market across Greater Boston continues to be strong, as evidenced by these two sales in very different sub-markets,” said Richard Herlihy, executive vice president, Richards Barry Joyce & Partners.  “In each transaction, we witnessed strong interest in the property and ran a very competitive process.” 

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Named Exclusive Leasing Agent For Marlborough Corporate Place

Firm Selected By Normandy Real Estate Partners To Lease Seven-Building,
570,000 Square Foot Office Park in Marlborough

Boston, MA – January 16, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, has been selected by Normandy Real Estate Partners as the exclusive leasing agent for Marlborough Corporate Place, a seven-building office park in Marlborough, MA.

Normandy recently acquired Marlborough Corporate Place in its purchase of a 13-property portfolio from Morgan Stanley Real Estate.  The office park consists of 570,000 square feet of office and R&D space.  Situated on an 85-acre campus, the park also features two sites that could be developed into an additional 225,000 square feet of space. 

Normandy is planning on a renovation and repositioning of the park that will entail many upgrades to the campus including new lobbies, the addition of several amenities such as a new full service cafeteria, fitness center, common conference area and the addition of a WIFI network.

Marlborough Corporate Place offers an excellent location in Greater Boston’s Route I-495 West submarket.  The park is less than one mile from the intersection of Routes I-495 and 20, and is in close proximity to the Massachusetts Turnpike, I-290, Route 128 and Route 9.  Nearby amenities include hotels, restaurants such as Arturo’s Ristorante, Bertucci’s, Big Apple Deli and the Long Horn Steakhouse, as well as shopping at the nearby Solomon Pond Mall and RK Center on Route 20.  Park tenants include Kewill North America, Rockwell Automation, Egenera, Mentor Graphics, BIOkey and MediQual Systems.

“Marlborough Corporate Place fits perfectly into our firm’s philosophy of targeting well located, quality assets in core markets in need of repositioning,” said Justin Krebs, Principal and Head of the Boston region, Normandy Real Estate Partners.  “The campus has the location and infrastructure that we feel provides the basis for a value-added opportunity in a recovering market.”

The RBJ team assigned to the project includes partners John Lashar and Brian McKenzie and vice president Paul Leone.  There is currently available space in the park that ranges from 8,000 to 100,000 square feet.

“Normandy has made a terrific strategic move in acquiring these buildings and excess land,” said John Lashar, partner, Richards Barry Joyce & Partners.  “The park has traditionally attracted many of the areas fast growing companies looking for flexibility in a campus environment. There is a real opportunity to capitalize on reinventing what exists in the park.” 

About Normandy Real Estate Partners

Normandy Real Estate Partners, LLC is a fully integrated real estate investment management firm based in Morristown, NJ with offices in New York, Boston, and Washington, D.C. Normandy Principals have invested over $1 billion of equity totaling approximately $4 billion in asset value.  Normandy recently closed on its current discretionary real estate fund, Normandy Real Estate Fund, L.P., with projected total purchasing power of approximately $1.8 billion.  Targeting the northeast and mid-Atlantic markets of Boston, New York City, Northern New Jersey, and Metro Washington D.C., Normandy pursues property investments of all types where opportunities exist to enhance value through creative repositioning, intensive management, leasing and capital improvements.  For more information, visit www.normandyrealty.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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Greater Boston Office Market Sees Vacancy Rates Drop To 16.1%

Research By Richards Barry Joyce & Partners Also Shows Increase In Asking Lease Rates

Boston, MA – January 5, 2006 – According to Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate firm, the fourth quarter of 2006 saw vacancy rates in the Greater Boston Office market drop to 16.1%, marking a decrease of 0.4% over the third quarter.  The data was released in RBJ’s “Greater Boston – Fourth Quarter 2006 Office Report.”

The firm’s research also found Class A office space asking lease rates strengthening across Greater Boston.  Average Class A asking lease rates increased $2.41 to $35.77 per square foot.  Additionally, the Greater Boston commercial office market experienced 1.1 million square feet of positive absorption in Q4, closing the year with positive absorption in each quarter of 2006.

The report’s “Market Interesting” section details a dramatic trend regarding the nature of the ownership of Boston real estate.  The report shows the percent of buildings in the Financial District that are owned by local firms and how that has changed over the past ten years.  There is also a review of the increase in ownership of Greater Boston assets by sophisticated real estate investment groups (as opposed to building user-owners or small investment groups) during that same period. 

“Taken on its own, Q4 was a strong quarter and from a trend perspective it shows a continuation of solid growth,” noted Brendan Carroll, director of research at RBJ.  “Our research indicates a shift in pricing and negotiating power from the tenants’ to the landlords’ favor, based on the lower vacancy and increasing asking lease rates.”

The report provides an overview of the main highlights for Greater Boston, a section that details findings on each principal market component (Boston CBD, Cambridge, Route 128 and I-495), and a table that compiles all the pertinent rates and figures (market size, vacancy, absorption, and availability) into one highly useful reference. 

To request a copy of RBJ’s “Greater Boston – Fourth Quarter 2006 Office Report.”, please send an email to research@rbjrealestate.com.  In addition to the quarterly Office report, RBJ also publishes quarterly Flex and Industrial reports, covering all submarkets, and quarterly MarketSTATus reports for the following submarkets: 128 North, 128 West, 128 South, I-495 North, I-495 West, Cambridge, Back Bay & Financial District.  The firm’s “bioSTATus” report, covering the biotechnology-related real estate market, is issued semi-annually, in the first and third quarters.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Represents The Gutierrez Company In 28,783 SF Lease

Landlord Signs New Lease With Nuance Communications

BOSTON – January 2, 2007 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented The Gutierrez Company in a 28,783 square foot lease at One Wall Street, Burlington, MA.  The landlord signed a new lease with Nuance Communications (NASDAQ:  NUAN). 

Nuance, a leading supplier of speech and imaging solutions, is expanding to the sixth floor of One Wall Street.  The company’s corporate headquarters are at nearby One Wayside Road in Burlington.  The Gutierrez Company is also the landlord for One Wayside Road. 

“We are pleased to have been able to accommodate the expansion of an excellent tenant like Nuance Communications,” said Jonathan Varholak, partner, Richards Barry Joyce & Partners.  “One Wall Street is a great fit for the company, given its flexibility, location and amenities.” 

Jonathan Varholak, partner, and Ron Friedman, vice president, of Richards Barry Joyce & Partners represented The Gutierrez Company in the transaction.  RBJ is the exclusive leasing agent for One Wall Street. 

About The Gutierrez Company

Since 1978, The Gutierrez Company (www.gutierrezco.com) has provided a full range of real estate development services including site selection, master planning, project management, design coordination, financing, construction services and property management.  The strongest characteristics of The Gutierrez Company are our in-depth capabilities within each phase of the development process. Whether we are joint-venturing a single building with a land owner, developing an office park for our own account, or constructing a customized building according to a user ’s specifications, all of the vital services needed for each development are provided in-house.  The Gutierrez Companies has developed over 8.5 million square feet of office, research and development, and retail space in suburban Boston and southern New Hampshire for various international, national, and regional tenants. We currently own and manage a building portfolio of over 4.2 million square feet of research and development, office and retail space. We have land to develop an additional 11 million square feet of space.

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, investment sales, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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