Richards Barry Joyce & Partners

BOSTON – December 22, 2010 – Richards Barry Joyce & Partners (RBJ&P), a full-service commercial real estate advisory firm, has released officeSTATus – Winter 2011, the firm’s research publication detailing Greater Boston’s commercial office market.

According to the report, Greater Boston’s office market realized the third consecutive quarter of positive absorption to close out 2010. During the fourth quarter a moderate 73,000 square feet of office space was taken off the market, while vacancy remained the same at 15.9%. The absorption during 2010 was focused in the high and low ends of the market – in trophy assets and in the “value” oriented submarkets.

“The market appears to be showing an increasing number of pockets of strength,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “There is no doubting the indicators that point to a stable market, with potential upside for growth in 2011 and 2012.”

Considered one of the market’s leading sources for accurate statistics, officeSTATus is comprised of several sections. It begins with an executive summary with bulleted highlights of the quarter, followed by the “Economy & Real Estate” section, which places the quarter’s results into broader economic context. There are individual pages on each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – with findings specific to those areas.

This quarter’s “Market Interesting” highlights the dramatic cost savings companies can realize by optimizing their space used per employee. The final page is comprised of a valuable resource – a single chart with all the pertinent market statistics (vacancy, market size, absorption, availability, and construction data) with historical data. Detailed graphics and charts throughout the report complement the text and highlight important information.

To request a copy of officeSTATus – Winter 2011, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications
In addition to officeSTATus, RBJ&P publishes nine other quarterly research reports: indSTATus, which focuses on Industrial property types (manufacturing, warehouse and flex buildings), and individual marketSTATus reports on eight crucial sub-markets. The firm’s biotechnology-focused report, bioSTATus, is released twice a year. In total, the firm produces an industry-leading 42 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, capital markets solutions, 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 313 Washington Street, Newton, Mass. For $11 Million

Firm Brokers Sale Between Transwestern Investment Company And Taurus New England Investment Corp.

BOSTON – December 20, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that RBJ | Capital Markets brokered the sale of 313 Washington Street in Newton, Mass., acting as the exclusive sales agent on behalf of Transwestern Investment Company.

Taurus New England Investment Corp. purchased 313 Washington Street for $11.15 million. The building is comprised of 81,603 square feet of office space on four floors. Located immediately off the Massachusetts Turnpike in Newton Corner, the building is surrounded by the three premier markets in Greater Boston – Downtown Boston, Cambridge and Waltham. The building is 91% occupied.

“The timing was right for a fund that Transwestern manages to sell,” said Frank Petz, executive vice president at RBJ&P and head of the firm’s RBJ | Capital Markets group. “313 Washington Street is a stabilized asset in a submarket that is strong and continuing to tighten. The Offering attracted a significant amount of investor interest. RBJ | Capital Markets also arranged very favorable financing, which will allow Taurus to achieve strong levered returns for their investors.”

Transwestern was represented by Richards Barry Joyce & Partners’ Frank Petz and James Tribble.

About Transwestern Investment Company
Transwestern Investment Company, L.L.C. (“Transwestern”) is a principal-oriented, private equity real estate investment firm that pursues U.S. investment strategies through a series of institutional equity fund vehicles. Since its inception in 1996, the firm has made over 460 offices, industrial, retail, multifamily, and mezzanine load investments nationwide representing a gross investment of nearly $11 billion. Transwestern has also liquidated 380 properties, representing approximately $7 billion in gross proceeds. Currently the firm has approximately $4 billion of gross assets under management. Transwestern’s investment expertise spans private equity and debt investment and debt origination. To date, Transwestern and its partners, including insurance companies, public and private pension funds, foundations and endowments, banks, corporations, and high net worth individuals and families, have committed nearly $4 billion of equity capital to the firm’s investment activities. The company currently employs approximately 75 professionals and is based in Chicago with offices in Atlanta, Denver, Los Angeles, and New York City.

About Richards Barry Joyce & Partners, LLC

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Brookwood Financial Partners, LLC Announces The Purchase of Two Projects Totaling 665,616 Square Feet for $19.5 Million

Richards Barry Joyce & Partners Brokers Sales Of The Billerica Business Center And The Big Y Distribution Center

BOSTON – December 17, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that RBJ | Capital Markets brokered two separate building sales, acting as the exclusive sales agent on behalf of a REMIC Trust that is specially serviced by LNR Partners LLC.

The properties – the Billerica Business Center and the Big Y Distribution Center – were purchased by affiliates of Brookwood Financial Partners, LLC for $19.5 million.

The Billerica Business Center, which sold for $15 million, is a six-building park consisting of 448,616 square feet of office and flex space and is currently 49% leased. The park is located in Billerica and Tewksbury at 101 Billerica Avenue. The Big Y Distribution Center, a 217,000 square foot high-bay warehouse/distribution facility, was purchased for $4.5 million. Located at 2189 Westover Road in Chicopee, Massachusetts, the building is fully occupied by the Big Y Foods, a supermarket chain based in Springfield.

“The acquisition of the projects increases our portfolio in New England to over 2 million square feet” stated Thomas N. Trkla, Chairman and Chief Executive Officer for Brookwood. “As a result of the change in ownership, we are already seeing increased interest for space at the park and have issued numerous proposals,” he continued. “Given our low basis in the Billerica Business Center, we will be able to provide very attractive leasing rates and tenant improvement dollars on some of the newest product in the area. We believe that this, along with planned upgrades to common areas and the addition of amenities to the park, will result in increased leasing activity. We are also very pleased to have Big Y as a tenant in the Chicopee asset, given its strong presence in Central and Western Massachusetts.”

“Marketing distressed assets in this type of economic environment presents a very interesting set of challenges,” said Frank Petz, Executive Vice President at RBJ&P and head of the firm’s RBJ | Capital Markets group. “Working closely with the buildings’ Ownership, our capital markets group and our I-495 market broker team were able to engage an experienced and well capitalized buyer in Brookwood. By incorporating the most recent market dynamics into their underwriting, Brookwood is well positioned to realize the significant upside potential of these assets.”

The Billerica Business Center and the Big Y Distribution Center were purchased by their lender in May 2010, in foreclosure proceedings. LNR Partners, LLC marketed the properties for sale, acting as a special servicer to the lender.

Ownership was represented by Richards Barry Joyce & Partners’ Frank Petz and John Wilson, partner. RBJ&P has been named the exclusive leasing agent for the Billerica Business Center.

About Brookwood Financial Partners
Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies. Since 1993, Brookwood has acquired 100 properties totaling approximately 8.9 million square feet of office, retail and research & development space as well as 143 hotel rooms, 138 condominium units, 572 apartments units, and 1,360 residential lots. Brookwood has acquired real estate assets throughout the United States including Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, Texas, and Virginia. In addition, Brookwood has invested in private companies in the wireless telecommunications, restaurant, software and outsourcing industries. Brookwood has raised over $421 million in equity to acquire assets with a realized and unrealized value of approximately $1.1 billion.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com.

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Richards Barry Joyce & Partners Expands Downtown Boston Team

Appointments Of Patrick Buckley And Justin Dziama Show Significant Growth For Boston’s Only Independent Commercial Real Estate Brokerage

BOSTON – December 16, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced two new appointments to the firm’s Downtown Boston broker team: Patrick Buckley as vice president and Justin Dziama as assistant vice president.

“Having attracted two experienced professionals to our team is an excellent way to close out a memorable year,” said Robert Richards, president, RBJ&P. “By focusing on proper growth – hiring the right people, with the right experience, at the right time – we have been able to avoid the unfortunate trend of consolidation and layoffs seen elsewhere in the industry. Patrick and Justin bring complementary skill sets to our Downtown team and are terrific additions to the firm.”

In their roles at RBJ&P, Mr. Buckley and Mr. Dziama will specialize in tenant and landlord advisory work, supporting the firm’s Dowtown clients.

Patrick Buckley – Prior to joining RBJ&P, Patrick was a vice president at Colliers Meredith & Grew, in the firm’s Boston Brokerage group. Previously he held sales positions at ING Employee Benefits and Artisoft, Inc. Patrick earned a B.S. in Finance at Villanova University and is a member of the Commercial Brokers Association. He serves on the board of Bridge Over Troubled Waters.

Justin Dziama – Justin comes to RBJ&P from the CoStar Group, where he worked for four years on the business development team. Prior to CoStar, he played professional hockey. Justin earned a Bachelor’s degree in Communications at Boston College, and was a member of the HEAR program for kids (Helping Educate through Athletic Responsibility).

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 Advises Nutter McClennen & Fish LLP In 130,000 SF Lease Renewal

Law Firm Signs Major Lease Renewal in Boston’s Seaport District

BOSTON – December 9, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it brokered a 130,000 square foot lease renewal for Nutter McClennen & Fish LLP, a Boston-based law firm.

Nutter, one of the oldest and most distinguished law firms in New England, occupies four floors of Seaport West, located at 155 Seaport Boulevard. The lease demonstrates the law firm’s continuing commitment to Boston’s burgeoning Seaport District.

“Nutter McClennen & Fish has a long history in Boston, which will remain our home for many years to come,” said Michael E. Mooney, managing partner of the firm. “The building suits our needs well and those of our clients. We’ve had a very successful relationship with Pembroke, our landlord, and it’s great being on the waterfront – a dynamic environment with harbor views.”

The RBJ&P team of Michael Joyce, partner, John Barry, partner, and Thomas Ashe, senior vice president, represented Nutter in the transaction. The building’s landlord, Pembroke Real Estate, was represented by William Barrack, director of Boston leasing, Jones Lang LaSalle.

Office Market Statistics – Boston
According to research by RBJ&P, the Downtown Boston submarket consists of 67,495,000 square feet of office space and was 11.3% vacant, as of the quarter ended September 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Fall 2010”]

About Nutter McClennen & Fish LLP
Nutter is one of the top-ranked law firms in Boston and provides counsel to leading businesses, institutions, emerging companies, foundations, families and individuals. The 145-lawyer practice offers a range of expertise broadly organized into Business, Litigation, Intellectual Property, Real Estate, Tax, and Trusts & Estates, with depth in numerous industries. Nutter has been in continuous practice for 131 years, since its co-founding by Louis Brandeis, who later became a widely renowned justice of the US Supreme Court. For more information visit www.nutter.com.

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WilmerHale Signs 272,000 SF Lease Renewal at 60 State Street

Lease At 60 State Street Is The Year’s Largest In Downtown Boston, Signals Economic Revival for Downtown Financial District

Richards Barry Joyce & Partners Advises WilmerHale in Transaction

BOSTON – December 3, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that the law firm WilmerHale will renew its commitment to 60 State Street and Boston’s Financial District by signing a 20-year lease for 272,000 square feet, occupying floors 2, 3, and 23 through 32 within the iconic building. The law firm has been the anchor tenant at 60 State since the tower was built in 1977.

The transaction is the largest lease signed to date in 2010 in the Downtown Boston market. The building is owned by Equity Office Properties, Boston’s largest landlord.

“Boston’s Financial District has been our home for nearly a century and we are pleased to maintain our corporate offices at 60 State Street,” said Bill Lee, Co-Managing Partner of WilmerHale. “Equity is committing to over $12M in building amenities, which combined with our renovations, will enable the firm to improve efficiencies and thereby maintain our focus on client service.”

Equity Office’s investment will include upgrading the lobby space, complementing the other upgraded lobbies in the Equity Office portfolio at 225 Franklin, One Post Office Square and 100 High Street. In addition, the renovations will include new elevators and security upgrades. A state-of-the-art Energy Management System (EMS) will be installed, allowing the building to become LEED certified.

“For over 300 years the corner of State and Congress has been the center of Boston civic life. It is with great pride that Equity Office is partnering with Wilmer Hale to restore 60 State Street and continue this tradition. This deal signifies the revival of the Financial District,” said Andrew Maher, Director of Leasing for Equity Office. “Our investment in 60 State Street will restore it back into one of Boston’s iconic buildings and prepare it for the tenants of the 21st century.”

The RBJ&P team of Michael Joyce, partner, John Barry, partner, and Thomas Ashe, senior vice president, represented WilmerHale. The building’s landlord, Equity Office Properties, was represented Ron Perry of Collier Meredith & Grew and internally by Andrew Maher.

Office Market Statistics – Downtown Boston
According to research by RBJ&P, the Downtown Boston submarket consists of 67,495,000 square feet of office space and was 11.3% vacant, as of the quarter ended September 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Fall 2010”]

About Wilmer Cutler Pickering Hale and Dorr LLP
WilmerHale provides legal representation across a comprehensive range of practice areas that are critical to the success of its clients. The law firm’s leading intellectual property, litigation/controversy, regulatory and government affairs, securities, and corporate and transactional groups participate in some of the highest-profile legal and policy matters. With a staunch commitment to public service, the firm is renowned as a leader in pro bono representation. WilmerHale is 1,000 lawyers strong with offices in 12 cities in the United States, Europe and Asia. For more information, please visit www.wilmerhale.com.

About Equity Office

Equity Office owns and manages approximately 11 million square feet in greater Boston, including signature properties such as 222 Berkeley Street, 500 Boylston Street, 100 Summer Street and 60 State Street. Equity Office is the owner and operator of more than 59 million square feet in over 400 buildings through the US. The company is an affiliate of The Blackstone Group, a premier global private equity firm. www.equityoffice.com

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Bauer Hockey Announces New Global Headquarters Location

Leading Ice Hockey Manufacturer Doubles Office Size; Significant Upgrades Planned for New Location at 100 Domain Drive in Exeter N.H.

GREENLAND, N.H. – November 29, 2010 – Bauer Hockey, Inc., the world’s leading manufacturer of ice hockey equipment, today announced that it has started construction on a new global headquarters location.

The company’s global headquarters will move from its current location in Greenland, N.H. to nearby Exeter. The new facility, located at 100 Doman Drive, will double Bauer’s current office size, allowing the company to adequately expand to meet the ever-growing demand for its innovative line of hockey equipment. All global support and administrative functions as well as Bauer’s executive management team and several of the company’s global departments will operate out of the new headquarters location. The office will also house all aspects of U.S. sales and marketing.

Bauer Hockey will continue to maintain its existing Canadian sales and marketing office in Mississauga, Ontario as well as its industry-leading Research, Design and Development Center in St. Jerome, Quebec. Bauer Hockey also has regional offices in Sweden and Germany.

“This is an exciting time in the history of Bauer Hockey and we’re excited to build a new facility that represents the high standards of the Bauer brand,” said Kevin Davis, CEO & President, Bauer Hockey. “Our new facility will feature several technology upgrades as well as adequate space to expand as our business continues to grow.”

Bauer Hockey has leased 56,835 of the more than 262,000 square feet of space available at the new facility. Situated on 32 acres of wooded land straddling the towns of Exeter and Stratham, the building offers excellent highway visibility and easy access to I-95. Numerous enhancements will be made to the facility, including a new building façade, significant landscape upgrades and a new lobby, as well as a self-serve café and fitness center. Replacement of the building’s roof as well as its rooftop HVAC units is currently underway.

“We have enjoyed a collaborative working relationship with Bauer Hockey on the lease negotiation process and look forward to hosting their corporate headquarters,” said Edward Carye, Principal, Altid Enterprises, LLC, the parent of First Altex Realty Trust and landlord of the facility. “First Altex and Bauer Hockey have worked closely over the past several months to ensure that Bauer has the ability to create its own corporate presence at 100 Domain Drive.”

In addition to structural upgrades, the landlord has worked with the towns of Exeter and Stratham, as well as the New Hampshire Department of Environmental Services, to rebalance the parking areas surrounding the building to improve access, while preserving the surrounding area’s natural beauty.

“We have been very pleased with the cooperative nature of our working relationship with Exeter and Stratham,” Carye said. “Their input and guidance were critical in developing a final plan for rebalancing the project’s parking areas. Our planned upgrades will help position 100 Domain Drive as one of the top locations in the Seacoast area.”

Bauer Hockey, Inc. was represented by Margaret O’Brien of CB Richard Ellis’ Portsmouth, N.H. office. John Wilson, partner, and James Lipscomb, senior vice president, of Richards Barry Joyce & Partners, together with Mike Monks of Monks and Company represented First Altex Realty Trust in the transaction. Richards Barry Joyce & Partners is the exclusive leasing agent for 100 Domain Drive.

About Bauer Hockey, Inc.
Bauer Hockey is the world's most recognized designer, marketer and manufacturer of hockey equipment. Founded in Kitchener, Ontario in 1927, Bauer developed the first skate with a blade attached to a boot, forever changing the game of hockey. Since then, Bauer has continued to develop the most sought after products in the industry, including the widely successful Supreme ® and Vapor ® lines of products.

About CBRE | Portsmouth
CBRE | Portsmouth is an affiliate office of CB Richard Ellis, Inc., the world's largest commercial real estate services company. This strategic partnership combined national resources with regional control and ownership to offer our clients a balanced service platform. CBRE | Portsmouth services the Seacoast and I-95 corridor and works closely with nearby CBRE | New England offices in Manchester, New Hampshire, Portland, Maine, Boston, Massachusetts. For more information please visit our website at www.cbre.com/portsmouth.

About Altid Enterprises, LLC
Altid Enterprises is a 50-year-old real estate company that develops, owns and operates commercial real estate in northeastern Massachusetts and southern New Hampshire.

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Richards Barry Joyce & Partners Releases “bioSTATus – Winter 2011”, Highlighting Greater Boston’s Biotechnology Real Estate Market

Report Finds Laboratory Market Strong, With Vacancy Rates In Decline

BOSTON – November 22, 2010 – Richards Barry Joyce & Partners has released bioSTATus – Winter 2011, the firm’s semi-annual research publication highlighting Greater Boston’s biotechnology real estate market.

According to the report, the region’s biotechnology real estate market is very strong. Vacancy rates for laboratory space have dropped during the two-quarter reporting period, from 13.3% to 11.7%. The vacancy drop was seen across the board with all major geographies – Cambridge, Boston and the Suburbs – realizing positive absorption. The laboratory market in Greater Boston remains stronger than other property types in the area.

bioSTATus provides all the pertinent real estate statistics (vacancy, market size, availability, absorption), and also provides insight into the broader trends facing Greater Boston’s biotechnology market, including hiring information and venture capital funding. Venture capital invested in Massachusetts biotechnology companies is near all-time highs ($246 million, last twelve months quarterly average).

“Greater Boston’s biotechnology industry remains very active, with hiring increasing during the middle of the year and venture capital funding nearing all-time highs,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “This level of activity directly impacts the demand for real estate for biotech companies. The region remains a leader in the field and shows no signs of letting up.”

About bioSTATus
bioSTATus is the region’s most influential research publication covering real estate for the critical biotechnology market. The report is released twice a year and delivers critical real estate statistics (vacancy, market size, availability and absorption) and offers updates on each of the primary submarkets (Cambridge, Boston and the suburbs). Additionally, bioSTATus positions the data within the context of the broader economy,

To request a copy of RBJ&P’s bioSTATus – Winter 2011, please send an email to research@rbjrealestate.com.

RBJ&P’s Research Publications
Richards Barry Joyce & Partners produces an industry-leading 42 reports per year, in addition to custom research projects for clients. bioSTATus is released twice a year and there are ten quarterly research reports: officeSTATus is the flagship report on the office market; indSTATus highlights warehouse, manufacturing and flex property types; and individual marketSTATus reports showcase eight critical sub-markets.

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Advises Affinnova On New Headquarters Relocation and Expansion

Move to Expanded Space Driven By Major Growth

BOSTON – November 16, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Affinnova, Inc. in the company’s search for a new corporate headquarters location.

Affinnova, the global leader in marketing innovation software and services, signed a new lease for 22,352 square feet of office space at 265 Winter Street, Waltham, MA. The company will occupy the entire top floor of the building. The lease is a significant expansion in space compared to the company’s previous headquarters also in Waltham.

“In the last three years, Affinnova has experienced major growth and as a result we have more than tripled the size of our staff. Affinnova’s new headquarters will allow us to continue to add talent as we expand to meet the growing need for marketing innovation and optimization solutions.” said Waleed Al-Atraqchi, CEO of Affinnova. “We sincerely appreciate the advisory help of Richards Barry Joyce & Partners in securing our new location in order to meet the needs of our business.”

The RBJ&P team of Jon Varholak, partner, and Ron Friedman, senior vice president, represented Affinnova in the transaction. The building’s landlord, Hobbs Brook Management, was represented by Wyman Street Advisors.

“Affinnova’s patented technology has assisted a very impressive list of Fortune 500 and international clients,” said Ron Friedman, senior vice president, RBJ&P. “When the company required a headquarters expansion, we conducted a comprehensive search that concluded with 265 Winter Street as the top option. The building and lease terms we were able to structure offer a considerable amount of flexibility, which is critical given Affinnova’s dynamic growth profile.”

Office Market Statistics – Route 128 West
According to research by RBJ&P, the Route 128 West submarket consists of 22,229,000 square feet of office space and was 19.9% vacant, as of the quarter ended September 30, 2010. [Source: Richards Barry Joyce & Partners’ “officeSTATus – Fall 2010”]

About Affinnova
Affinnova is revolutionizing how the world innovates. As the global leader in marketing innovation software and services, Affinnova enables marketers to improve outcomes by developing better performing products, advertisements and designs. Its patented technology dramatically expands the field of creative ideas considered and reliably identifies those ideas with the greatest market potential based on consumer preferences. Fortune 500 and international leaders such as Procter & Gamble, Unilever, Nestlé, Pfizer, Johnson & Johnson, Walmart, Microsoft, MasterCard and Citibank, depend on Affinnova to deliver higher success rates, faster time to market and maximum return on marketing investments. For more information, please visit www.affinnova.com.

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Advises Olympus NDT In Lease Expansion

RBJ&P Negotiates Lease At 48 Woerd Avenue, Waltham, Mass.

BOSTON – November 3, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Olympus NDT in negotiating and signing a lease expansion to its existing facilities at 48 Woerd Avenue, Waltham, Mass.

The lease expansion is for additional manufacturing, office and R&D space on the building’s first floor. With this expansion, Olympus NDT now occupies the majority of the space at 48 Woerd Avenue. The location houses the marketing, manufacturing and sales headquarters for Ultrasonic Testing (UT) and Eddy Current Testing (ECT) instruments for Olympus NDT. In late 2011, Olympus NDT will combine facilities with its recent acquisition of Innov-X Systems, Inc., (now known as Olympus Innov-X), a manufacturer of X-ray fluorescence instruments (XRF) located in Woburn, Mass.

“48 Woerd Avenue is an excellent location for Olympus NDT and we are pleased to expand our presence here,” said Glenn Decker, Executive Vice President, Olympus NDT. “The building is a good match for our needs and we appreciate the flexibility to be able to increase our footprint when needed.”

The RBJ&P team of Jonathan Varholak, partner, and Ron Friedman, senior vice president, represented Olympus in the transaction. Intercontinental Real Estate Corporation, the building’s landlord, was represented internally by Scott Kelly.

Office Market Statistics – Route 128 West
According to research by RBJ&P, the Route 128 West submarket consists of 22,229,000 square feet of office space and was 19.9% vacant, as of the quarter ended September 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Fall2010”]

About Olympus
Olympus NDT is a world-leading manufacturer of innovative testing instruments that are used in industrial and research applications ranging from aerospace, power generation, petrochemical, civil infrastructure and automotive to consumer products. Olympus NDT instruments contribute to the quality of products and add to the safety of infrastructure and facilities. Olympus NDT’s leading edge technologies include remote visual inspection, high speed video, ultrasound, ultrasound phased array, eddy current, and eddy current array. For more information, please visit our website at www.olympus-ims.com.

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Releases Research Highlighting Greater Boston’s Industrial Real Estate Market

“indSTATus – Fall 2010” Shows Improving Conditions For Boston’s Warehouse, Flex And Manufacturing Properties

BOSTON – October 19, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, has released “indSTATus – Fall 2010”, the firm’s quarterly research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings.

According to the report, the combined industrial market, which consists of 105 million square feet of space, has witnessed two consecutive quarters of positive absorption. The momentum is notable given the preceding streak of six quarters of negative absorption. Asking lease rates for the quarter were stable and are expected to remain so, given the total amount of vacant space across the market.

“Two quarters certainly don’t make a long-term trend, by any means,” said Brendan Carroll, senior vice president of research, RBJ&P. “However, we are pleased to see the six-quarter trend of negative absorption come to more than just a one-quarter end. This corrective trend, however slight, also reflects a more optimistic set of fundamentals seen in the overall economy.”

In the Warehouse market, vacancy was up slightly by 0.1% to 17.5% and asking lease rates dropped $0.03 to $5.49. There was 76,000 square feet of negative absorption, although absorption was positive on a last 12 months basis for the first time in five quarters.

Vacancy dropped by 0.6% to 18.2% in the Flex market, which had 183,000 square feet of positive absorption. Asking lease rates, which closed the quarter down $0.30 to $7.81, are at ten-year lows, and near all-time lows, when accounting for inflation.

The Manufacturing market saw the biggest gains in absorption, with 257,000 square feet of positive absorption bringing vacancy down 1.4% to 15.7%. Asking lease rates increased by $0.13 to $6.58, ending a seven-quarter trend of declining rates.

To request a copy of indSTATus – Fall 2010, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications
indSTATus is one of RBJ&P’s family of ten quarterly research reports. The firm also publishes a quarterly office report (officeSTATus) and individual marketSTATus reports on eight critical sub-markets. The firm’s biotechnology-focused report, bioSTATus, is released twice a year, after the first and third quarters. In total, RBJ&P produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

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Campanelli Companies Hires Richards Barry Joyce & Partners As Exclusive Leasing Agent For Two Buildings

Firm Retained To Market 700 and 900 Technology Park Drive In Billerica, Mass.

BOSTON – October 5, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced that Campanelli Companies has hired the firm as the exclusive leasing agent for 700 and 900 Technology Park Drive in Billerica, Mass.

The hiring follows Campanelli Companies’ recent purchase of the two buildings, which was announced on Monday, September 27, 2010. 700 and 900 Technology Park Drive each consists of two floors. In total, the buildings offer 85,018 square feet of office and R&D space.

“Technology Park Drive is particularly attractive for high tech companies and business services firms, due to its location and flexibility of use,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “With Campanelli Companies, the buildings also have ownership that is well financed, flexible and very interested in working to retain and attract quality tenants.”

Nearby tenants in the park include such well known companies as Avaya, GE, Luminus Devices, Inc. and Raytheon Company. The park also features daycare and a hotel. 700 and 900 Technology Park Drive can accommodate tenants looking for space from 2,000 to 20,000 square feet.

The RBJ&P team assigned to the project includes Brian McKenzie, John Wilson, and James Lipscomb, who will work with Peter Brown, Director of Leasing for Campanelli Companies.

About Campanelli Companies
Established in 1947, Campanelli Companies is a full-service commercial real estate development and construction company with extensive experience in the industrial, office, medical office, warehouse/distribution and retail markets. To date, Campanelli has developed 18 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 fifty 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 Richards Barry Joyce & Partners, LLC

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Greater Boston Office Market Strengthens During Third Quarter

Richards Barry Joyce & Partners’ “officeSTATus – Fall 2010” Report Shows Vacancy Drop Slightly, Rents Stabilize

BOSTON – October 4, 2010 – Richards Barry Joyce & Partners (RBJ&P), a full-service commercial real estate advisory firm, has released officeSTATus – Fall 2010, a research report detailing Greater Boston’s commercial office market.

According to the report, the third quarter of 2010 witnessed a strengthening of Greater Boston’s office market. Across the market, vacancy decreased 0.1% to 15.9% with 401,000 square feet of positive absorption. The Route 128 market was particularly strong, accounting for a significant portion of the positive absorption. The market strengthening continues a trend begun during the second quarter, when the market ended a six-quarter streak of negative absorption.

Additionally, pricing has stabilized, with asking lease rates for Greater Boston edging up slightly (to $35.98). Notably, some premium areas (including the Back Bay, 128 South and East Cambridge) have seen increases in lease rates.

“The Greater Boston commercial office market is balancing somewhere along the boundary of stabilizing and strengthening,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “It’s particularly good to see two consecutive quarters of better numbers. Like the general economy, there are very good signs of growth and improvement but it’s not yet across the board.”

This quarter’s “Market Interesting” contrasts the statistics for vacancy and availability. The final page is comprised of a valuable resource – a single chart with all the pertinent market statistics (vacancy, market size, absorption, availability, and construction data) with historical data. Detailed graphics and charts throughout the report complement the text and highlight important information.

To request a copy of officeSTATus – Fall 2010, please send an email to research@rbjrealestate.com.

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Richards Barry Joyce & Partners Represents Quincy Office Investors, Inc. In Leases Totaling 29,769 SF

Four Leases Signed At Recently Renovated 400 Crown Colony Drive, Quincy, Mass.

BOSTON – September 28, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented Quincy Office Investors, Inc. in four leases at 400 Crown Colony Drive in Quincy, Mass.

The tenants in the leases are Comcast Corporation, Mutual of Omaha, CareerBuilder, and Systagenix Wound Management.

Quincy Office Investors recently made significant enhancements to the six-story, 118,325 SF office building. On the outside, the granite façade was completely renovated, landscaping was upgraded and the lighting was improved, providing a new, fresh look for the building. Inside the building, common areas were updated, including new paint and carpeting as well as refinished millwork. The elevator cabs were fully renovated and a new café was opened to service the building tenants and guests. Behind the scenes, new high-efficiency boilers and air handlers – along with a recent cooling tower replacement – have improved the comfort, reliability, and efficiency of the building’s HVAC system.

A new access ramp to the building was opened for use in late 2009. Part of broader construction in the area being done by the State of Massachusetts to help reduce traffic, the new ramp at Crown Colony has greatly increased the convenience and accessibility of the building and significantly reduced congestion during rush hour. Additionally, shuttle service is provided between the building and from the nearby Quincy Adams MBTA station.

“400 Crown Colony’s amenities, ease of highway access and proximity to Downtown Boston have always made the building one of the top options in the area,” said James Zilora, Vice President of Quincy Office Investors. “We witnessed a sharp increase in the level of interest after the renovations were complete and the new access ramp was opened, and are very pleased to have attracted these industry-leading new tenants to the building. We are appreciative of RBJ&P’s work on our behalf and also of the efforts of Grubb & Ellis, CresaPartners, and Jones Lang LaSalle and others in helping connect the 400 Crown Colony space solutions to their clients.”

The RBJ&P team of Robert Byrne, Chris Mullen, Jon Varholak and John Lashar represented the landlord in the transactions. RBJ&P is the exclusive leasing agent for 400 Crown Colony Drive. The building currently has 22,300 square feet of space available.

Details of the four leases include:

Comcast Corporation signed a new lease for 14,679 square feet of office space on the fifth floor of 400 Crown Colony Drive. Comcast, one of the nation's leading providers of entertainment, information and communication products and services, was represented in the lease by CresaPartners.

CareerBuilder signed a new lease for 2,739 square feet of space on the third floor. Grubb & Ellis represented CareerBuilder, which is the global leader in human capital solutions, helping companies target and attract their most important asset – their people.

Mutual of Omaha signed a new lease for 3,928 square feet of office space on the building’s sixth floor. Mutual of Omaha, which is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States, was represented by Grubb & Ellis. “This lease represents the second lease completed with Mutual of Omaha at 400 Crown Colony in less than two years, and we are proud that they again chose our building in which to operate their business,” continued Mr. Zilora.

Systagenix Wound Management signed a new lease for 8,423 square feet of office space on the third floor. The location is the company’s U.S. headquarters. Systagenix, which delivers innovative products and services that provide breakthrough clinical and economic outcomes in the treatment of chronic and surgical wounds and the control of bleeding, was represented in the transaction by Jones Lang LaSalle.

Route 128 South Office Market
According to research by RBJ&P, the Route 128 South submarket consists of 11,965,000 square feet of office space and was 18.4% vacant, as of the quarter ended September30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Fall 2010”]

About Richards Barry Joyce & Partners, LLC

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Spectral Sciences, Inc. Expands Corporate Headquarters Location In Burlington, Mass.

Richards Barry Joyce & Partners Advises R&D Company In Expansion

BOSTON – August 24, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Spectral Sciences, Inc. in a 30,600 square foot lease renewal and major expansion for the company’s corporate headquarters.

RBJ&P negotiated the lease for office and R&D space at 2-4 Fourth Avenue in Burlington, Mass. Spectral Sciences, a leading research and development company, doubled its presence and now leases the entire single-story building. 2-4 Fourth Avenue is located in NorthWest Park.

“Massachusetts is home to many leading edge companies, such as Spectral Sciences, and we are fortunate to be able to advise many of them on their real estate strategy,” said Ron Friedman, senior vice president, Richards Barry Joyce & Partners. “Spectral Sciences is a very dynamic company and its rapid growth required a doubling of its space. By expanding within NorthWest Park, the company eliminates the disruption caused by a headquarters move, while also taking advantage of very favorable market conditions.”

Mr. Friedman and Jonathan Varholak, partner, of Richards Barry Joyce & Partners represented Spectral Sciences in the lease. The building’s landlord, Nordblom Company, was represented internally.

Market Statistics – Route 128 North Office Market
According to research by RBJ&P, the Route 128 North submarket consists of 25,792,000 square feet of office space and was 22.3% vacant, as of the quarter ended June 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2010”]

About Spectral Sciences, Inc.
Spectral Sciences, Inc. is a research and development (R&D) company dedicated to solving problems from concept to prototype. SSI has developed many industry standard computer codes as well as unique instrument prototypes to help in the development of cutting-edge technologies for its clients. For more information, please visit www.spectral.com.

About Richards Barry Joyce & Partners, LLC

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Virtusa Corporation Extends Corporate Headquarters Lease In Westborough, Mass.

Richards Barry Joyce & Partners Advises Information Technology Firm In Lease Negotiations

BOSTON – August 10, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Virtusa Corporation in a lease extension for its corporate headquarters in Westborough, Mass.

RBJ&P negotiated the 22,147 square foot lease for office space on the third floor of 2000 WestPark Drive, which is part of the Westborough Office Park. Virtusa Corporation (NASDAQ: VRTU) is a global information technology (IT) services company providing IT consulting, technology and outsourcing services. The company has over 4,000 employees worldwide and offices throughout the U.S., Europe and Asia.

“We were pleased to advise Virtusa during the lease negotiations,” said John Lashar, partner, RBJ&P. “By implementing a ‘blend and extend’ agreement, we have simplified the administration of Virtusa’s corporate headquarters lease.”

Mr. Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented Virtusa in the lease. The building’s landlord, BPG / Westborough Investors, LP, was represented by Jones Lang LaSalle.

I-495 West Office Market
According to research by RBJ&P, the I-495 West submarket consists of 17,450,000 square feet of office space and was 18.9% vacant, as of the quarter ended June 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Summer 2010”]

About Virtusa Corporation
Virtusa is a global information technology (IT) services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides high-value services that enhance clients' business performance, accelerate time-to-market, increase productivity and improve customer service.

Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States, the United Kingdom, the Netherlands and Hungary, and global delivery centers in India and Sri Lanka. www.virtusa.com

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Advises WiTricity Corp. In New Corporate Headquarters Lease

20,000 SF Lease More Than Doubles Wireless Electricity Technology Company’s Headquarters

BOSTON – August 4, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised WiTricity Corp. in a new 20,000 square foot lease for the company’s corporate headquarters.

RBJ&P negotiated the lease for office and R&D space at 149 Grove Street in Watertown, Mass. WiTricity, an innovator in the wireless electricity technology field, will lease the entire two-story building. The company is more than doubling its previous location of approximately 8,000 square feet at 80 Coolidge Hill Road, also in Watertown.

The RBJ&P team worked closely with WiTricity to determine the company’s needs for a new headquarters. The company wanted to remain close to MIT, due to its ties to the prestigious institute, and also had specific infrastructure requirements for its new location. In particular, WiTricity required access to first floor space that would facilitate the company’s research and development on electric cars that had to be moved in and out of the building. This required significant floor load capacity, a drive-in door and modest clear heights.

The search centered around Watertown, Cambridge and other Inner Suburban areas. Options were limited because many office properties could not accommodate WiTricity’s requirements and many potential buildings in Cambridge had been converted to laboratory use.

“WiTricity is a very unique company, a true trailblazer in wireless electricity,” said Eric Smith, senior vice president, Richards Barry Joyce & Partners. “After a comprehensive search, we determined that 149 Grove Street was an excellent fit for the company, as it meets WiTricity’s geographical objectives and is able to support the company’s R&D work.”

Mr. Smith and Ron Friedman, senior vice president, of Richards Barry Joyce & Partners represented WiTricity Corp. in the lease. The building’s landlord, Bubblegum Realty Trust, was represented by Colliers Meredith & Grew.

Market Statistics – Watertown Commercial Real Estate
According to research by RBJ&P, the Watertown commercial real estate market, which includes office, flex and laboratory properties, consists of 1.6 million square feet of space and was 6.0% vacant as of the quarter ended June 30, 2010.

About WiTricity Corp.
WiTricity Corporation designs, develops, manufactures, and markets technology for wireless energy transfer. Founded in 2007, the company is commercializing technology invented by a team of MIT physicists in 2006. This technology utilizes magnetism to transfer energy without wires in a way that is safe, efficient, and that works over distance. Witricity began shipping products to industrial and governmental partners in 2010, and expects that consumer products powered by WiTricity technology will be introduced in 2011. For more information, visit www.witricity.com.

About Richards Barry Joyce & Partners, LLC

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New Research From Richards Barry Joyce & Partners Highlights Greater Boston’s Industrial Real Estate Market

“indSTATus – Summer 2010” Shows Mixed Results In Boston’s Warehouse, Flex And Manufacturing Properties

BOSTON – July 21, 2010 – According to a new research publication from Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, Greater Boston’s industrial market displayed mixed indicators in the second quarter of 2010. The firm released the findings in indSTATus – Summer 2010,a research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings.

The report finds that demand for each of the three property types is generally low and large increases in available space indicate that users expect to consolidate their use of space. Additionally, asking lease prices remain at historical lows for all industrial property types.

“The first half of 2010 has been fairly stagnant in Greater Boston’s industrial market,” said Brendan Carroll, vice president of research, RBJ&P. “There are certainly positives to take from these results, as the numbers are not trending downwards. However, the mixed indicators make for difficulties in predicting future results.”

In the Warehouse market, vacancy was down by 0.5% to 17.4%, after hitting a 14-quarter high in the first quarter. There was 306,000 square feet of positive absorption, and the asking lease rates went up minimally, by $0.03 to $5.52.

The Flex market maintained vacancy of 18.8% during the quarter, with slight negative absorption of 30,000 square feet. Asking lease rates, which closed the quarter down $0.20 to $8.11, have fallen three straight quarters and are at the lowest levels in 15 years.

Absorption in the Manufacturing market was at negative 50,000 square feet during the quarter, raising vacancy 0.5% to 17.1%. Absorption has been negative five of the past seven quarters in the manufacturing market, though all but one quarter of negative absorption has been minimal. Asking lease rates have fallen eight consecutive quarters and are at their lowest levels since 2004. For the quarter, asking lease rates were down $0.09 to $6.45.

To request a copy of indSTATus – Summer 2010, please send an email to research@rbjrealestate.com.

RBJ Research Publications
indSTATus is one of RBJ’s family of ten quarterly research reports. RBJ also publishes a quarterly office report (officeSTATus) and individual marketSTATus reports on eight critical sub-markets. The firm’s biotechnology-focused report, bioSTATus, is released twice a year, after the first and third quarters. In total, the firm produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

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Richards Barry Joyce & Partners Brokers 88,272 Square Foot Lease On Behalf Of Great Point Investors

Netezza Corporation Signs Lease Renewal And Expansion For Corporate Headquarters; Brings 26 Forest Street (Marlborough, Mass.) To Full Occupancy

BOSTON – July 20, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced an 88,272 square foot lease renewal and expansion the firm brokered on behalf of Great Point Investors at 26 Forest Street in Marlborough, Mass.

The tenant, Netezza Corporation (NYSE: NZ), occupies office space on the building’s first, second and third floors. The company expanded its presence in the building by 20,483 square feet, having previously leased 67,789 square feet. Netezza is the global leader in data warehouse, analytic and monitoring appliances that dramatically simplify high-performance analytics across an extended enterprise.

The lease brings 26 Forest Street to full occupancy. The three-story building is located in the Lake Williams Corporate Center.

“Lake Williams Corporate Center offers the full range of features that tenants are looking for – central location, onsite and nearby amenities, highway access and a knowledgeable, flexible landlord,” said John Lashar, partner, Richards Barry Joyce & Partners. “While the park is particularly well suited to high tech companies, due to its state-of-the-art infrastructure, it is also very attractive to professional services companies, as it was originally built for a financial firm.”

John Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented Great Point Investors in the transaction. The firm is the exclusive leasing agent for Lake Williams Corporate Center. Netezza Corporation was represented by Kevin Hanna of FHO Partners.

26 Forest Street And Lake Williams Corporate Center
26 Forest Street is a three-story office building, consisting of 119,016 square feet of space. Built in 2001 for a finance company, the building’s lobby was recently completely renovated and a fitness center was added. The building features a state-of-the-art infrastructure, a recently renovated full-service cafeteria, an outdoor patio and plentiful parking.

The building is part of Lake Williams Corporate Center, along with 62 Forest Street. The master-planned park totals 445,000 square feet of space on a 61-acre lakeside setting. The park is adjacent to the I-495 / Route 20 interchange and only a few miles from the Massachusetts Turnpike. Nearby amenities include restaurants, hotels, retail, daycare and the Marlborough / Westborough Boston Logan Airport Shuttle.

About Great Point Investors
Great Point Investors manages private equity real estate investments on behalf of institutional clients. Based in Boston, Great Point’s portfolio consists of over $700 million of office and industrial investments across the United States.

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Richards Barry Joyce & Partners Represents AEW Capital Management And Griffith Properties In New 28,000 SF Lease

SensAble Technologies Moves Headquarters To Ballardvale Office Park, Wilmington, Mass.

BOSTON – July 13, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced a new 28,000 square foot lease the firm brokered on behalf of AEW Capital Management, L.P. and Griffith Properties, LLC, owners of Ballardvale Office Park (Wilmington, Mass.).

Under the terms of the lease, SensAble Technologies will lease office and R&D space on the first floor of 181 Ballardvale Street. The location will serve as SensAble Technologies’ new corporate headquarters, with the company relocating from Woburn, Mass. SensAble Technologies is the leading developer of 3D touch-enabled (force feedback) solutions and technology that allow users to not only see and hear an on-screen computer application, but to actually “feel” it.

“Ballardvale Office Park perfectly fits the needs of SensAble Technologies, with excellent amenities, easy highway access, flexibility for growth, and outstanding R&D infrastructure with attractive office finishes,” said James Lipscomb, senior vice president, Richards Barry Joyce & Partners. “Additionally, the ownership moved swiftly to meet SensAble’s timing and requirements by providing compelling lease terms and fully negotiating a lease within two weeks.”

RBJ&P’s John Wilson, Brian McKenzie, and James Lipscomb represented the landlords in the transaction. SensAble Technologies was represented by Matt Daniels and Chris Lawrence of Colliers Meredith & Grew.

About Ballardvale Office Park
Ballardvale Office Park is a four-building park comprised of 555,000 square feet of office space. The campus is located at the intersection of Route I-93 and Route 125, providing 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.

Each of the buildings in the park have undergone significant renovations, which selectively include new building exteriors, larger windows, state-of-the-art HVAC systems, new roofs and new landscaping, as well as improvements to common lobbies and fitness areas.

Onsite amenities include a full-service cafeteria in Building One, with a large seating area, flat screen television monitor, and free WiFi access, a new fitness center with state-of-the-art equipment and locker room facilities, and banking facilities within the park.

Market Statistics – Route 128 North
According to research by RBJ&P, the Route 128 North submarket consists of 25,792,000 square feet of office space and was 22.3% vacant, as of the quarter ended June 30, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Summer 2010”]

About AEW Capital Management, L.P.
Founded in 1981, AEW provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $42 billion of real estate assets and securities in North America, Europe and Asia (as of March 31, 2010). On behalf of institutional and private investors worldwide, 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, London, Paris and Singapore, as well as additional offices in nine European cities. For more information please visit www.aew.com.

About Griffith Properties, LLC
Griffith Properties, LLC is a real estate investment firm that employs extensive operating and investing experience to provide investors an attractive risk-adjusted return. We invest in value-added office, industrial, R&D, retail and multifamily assets located in the Boston to Washington, DC corridor.

Since 1978, principals of Griffith Properties have owned over $2.0 billion of commercial properties in nearly 70 buildings totaling more than 11.0 million square feet. Brad Griffith founded the firm to take advantage of the opportunities created by the post-2001 market correction in commercial real estate, and to provide investors an attractive risk-adjusted return by investing in multiple asset classes. Through Funds I and II, Griffith Properties has acquired $220 million of assets consisting of 13 office and three industrial buildings, totaling 2.1 million square feet in the Greater Boston, Baltimore, and Washington, DC markets. For more information, please visit www.griffithproperties.com

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Greater Boston Office Market Remains Neutral During Q2 2010, Ends Streak Of Negative Absorption

Richards Barry Joyce & Partners’ “officeSTATus – Summer 2010” Report Shows Market Had Slight Positive Absorption And Vacancy Increase

BOSTON – July 8, 2010 – Greater Boston’s commercial office market ended a six-quarter skid of negative absorption in the second quarter of 2010, with flat absorption of 39,000 square feet, according to new research by Richards Barry Joyce & Partners, LLC (RBJ&P). The findings were released in the firm’s quarterly office report, officeSTATus – Summer 2010.

According to the report, the Greater Boston office market experienced 39,000 square feet of positive absorption during the second quarter, in contrast to 204,000 square feet of negative absorption in Q1. The vacancy rate edged up by 0.2% to 16.0% as 504,000 sf was completed. Average asking lease rates were somewhat mixed across the market, with declines in most geographies and slight increases in a few premium locations.

“The positive absorption we saw this quarter, however slight, was a welcome end to the year and half streak of negative absorption,” said Brendan Carroll, vice president of research, Richards Barry Joyce & Partners. “Combined with other economic indicators, it provides good reason to be cautiously optimistic.”

officeSTATus is comprised of several sections. It begins with an executive summary with bulleted highlights of the quarter, followed by the “Economy & Real Estate” section, which places the quarter’s results into broader economic context. There are individual pages on each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – with findings specific to those areas.

This quarter’s “Market Interesting” section takes a contrasting look (optimistic and pessimistic) at five critical issues in Greater Boston – the economy, population, employment, expense and mergers. The final page is comprised of a valuable resource – a single chart with all the pertinent market statistics (vacancy, market size, absorption, availability, and construction data) with historical data. Detailed graphics and charts throughout the report complement the text and highlight important information.

To request a copy of officeSTATus – Summer 2010, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications
In addition to officeSTATus, RBJ&P publishes nine other quarterly research reports: indSTATus, which focuses on Industrial property types, such as manufacturing, warehouse and flex buildings, and individual marketSTATus reports on eight crucial sub-markets. The firm’s biotechnology-focused report, bioSTATus, is released twice a year. In total, the firm produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

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NPV/Direct Invest Hires Richards Barry Joyce & Partners To Market Braintree Business Park

Four-Building Park Consists Of 425,000 SF Of Premium Business Class Office, R&D And Warehouse Space

BOSTON – July 1, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that the firm has been hired by NPV/Direct Invest, LLC as the exclusive leasing agent for the Braintree Business Park (Braintree, Mass.).

Braintree Business Park consists of four buildings and offers 425,000 square feet of premium business class office, R&D and warehouse space. The buildings situated in a corporate setting are located in the heart of Braintree on Route 37, just 15 miles south of Boston. Nearby amenities include hotels, restaurants, day care, the South Shore Plaza and the 18-hole Braintree Municipal Golf Course. The Braintree MBTA station is located two miles away and there is easy access to the I-93/Route 3 split and Route 128.

“We are very pleased to have been awarded the Braintree Business Park project by NPV/Direct Invest,” said Jay Nugent, Senior VP, RBJ&P. “The owner’s hands-on approach results in enhanced value to their properties and positive tenant relationships. We look forward to working with them on Braintree Business Park, which offers an excellent location and cost effective alternatives for an extremely wide variety of users.”

The RBJ&P team assigned to the Braintree Business Park project includes partner Jonathan Varholak, senior vice president Jay Nugent and vice president Robert Byrne. There is immediate availability of 81,000 square feet of office/R&D space.

According to RBJ&P’s “officeSTATus – Spring 2010”, the Route 128 South market has 11,965,000 square feet of office space, and is 19.0% vacant (as of the quarter ended March 31, 2010).

About NPV / Direct Invest, LLC
Direct Invest, LLC, is an independent national real estate investment and asset management company specializing in office and industrial properties. Direct Invest is headquartered in Boston, Massachusetts, with a geographic focus in the Mid-Atlantic and New England regions. The Senior Management Team has acquired, developed and managed in excess of 12 million square feet of real estate. Through the acquisition of over 50 buildings in major Northeast and Mid-Atlantic markets, over 3.5 million square feet of executed leases, over 3 million square feet of construction/redevelopment projects, more than $650 million of portfolio and individual asset financings, and over $500 million of asset dispositions, the senior management team has established a reputation for creating value and outperforming the market. Direct Invest strives to be deeply involved in every aspect of the asset management of each of its assets to create, enhance and maintain the value of the property through hands on expertise. www.directinvestllc.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 51,000 Square Foot Lease Renewal On Behalf Of KBS Realty Advisors

Crossbeam Systems Renews Lease For Two Floors Of 80 Central Street, Boxborough, Mass.

BOSTON – June 23, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today announced a 51,000 square foot lease renewal the firm brokered on behalf of KBS Realty Advisors at 80 Central Street, Boxborough, Mass.

Under the terms of the lease, Crossbeam Systems, Inc. will remain at 80 Central Street, which is part of Tech Central Boxborough along with 90 Central Street. Crossbeam, the leading provider of next-generation security platforms for high-performance networks, occupies the first and second floor of the building. 80 Central Street is Crossbeam’s corporate headquarters.

“Crossbeam Systems’ decision to remain at 80 Central Street demonstrates the building’s appeal in this market,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “The building has a central location in the Massachusetts ‘high tech corridor’, excellent highway access, and the amenity package that many tenants look for. Additionally, with KBS Realty Advisors, the building has a landlord that understands the particular requirements for high tech tenants.”

Richards Barry Joyce & Partners represented KBS Realty Advisors in the transaction and the firm is the exclusive leasing agent for 80 Central Street. Crossbeam Systems was represented by FHO Partners.

80 Central Street – Tech Central
80 Central Street is a 149,528 square foot office building, located in the heart of one of the country’s most concentrated high technology corridors. Built in 1988 and fully renovated by 3Com Corporation in 1995, the building offers a high level of amenities, attractive design elements and robust building infrastructure, designed for high tech tenants.

80 Central Street has a distinctive three-story atrium, a 125-seat cafeteria and on-site fitness room with showers and lockers. The building is situated just off Route 2 and only minutes from I-495. There is currently 8,000 square feet of vacancy.

I-495 North Office Market
According to research by RBJ&P, the I-495 North submarket consists of 14,396,000 square feet of office space and was 22.2% vacant, as of the quarter ended March 31, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Greater Boston Spring 2010”]

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 Realty Advisors and its affiliate, KBS Capital Advisors, invests in, manages and sells high-quality U.S. commercial real estate assets for institutional, corporate and private investors. Since 1992, KBS has completed transactional activity of approximately $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs. For more information, visit www.kbsrealty.com.

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Richards Barry Joyce & Partners Brokers Two New Leases On Behalf Of KBS Realty Advisors

80 Central Street In Boxborough, Mass. Attracts Two New Tenants – Applied Materials, Inc.
And Sohn & Associates

Boston, MA – June 15, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented KBS Realty Advisors in two new leases with Applied Materials, Inc. and Sohn & Associates at 80 Central Street in Boxborough, Mass.

Brian McKenzie, partner, and Robert Byrne, assistant vice president, of Richards Barry Joyce & Partners represented KBS Realty Advisors in the transactions. RBJ&P is the exclusive leasing agent for 80 Central Street.

Details of the leases include:

Applied Materials, Inc. signed a new lease for 6,109 square feet of office space on the second floor. Applied Materials, the global leader in Nanomanufacturing Technology solutions, is moving to 80 Central Street from Chelmsford, Mass. The company was represented in the transaction by Brian Tisbert of Colliers Meredith & Grew.

Sohn & Associates, a financial advisory practice of Ameriprise Financial Services, Inc., signed a new lease for 3,082 square feet of office space on the first floor of 80 Central Street. The firm is relocating from Concord, Mass. John Coakley of Grubb & Ellis represented Sohn & Associates.

“The I-495 North market has been active during the beginning of 2010,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “In particular, it has been Class A buildings such as 80 Central Street that have garnered the bulk of the attention. Tenants are gravitating towards buildings with a high level of amenities and good location, with either recent renovations or new construction that were made with tenants’ interest in mind.”

80 Central Street is a 149,528 square foot office building, located in the heart of one of the country’s most concentrated high technology corridors. Built in 1988 and fully renovated by 3Com Corporation in 1995, the building offers a high level of amenities, attractive design elements and robust building infrastructure, designed for high tech tenants.

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 Two Appointments To Capital Markets Team

Firm Strengthens Capital Markets Team, Increases Client Focus

BOSTON – June 10, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, is pleased to announce two appointments to the firm’s capital markets team. Chris Skeffington and James Tribble have joined RBJ | Capital Markets as senior analysts.

“We are pleased to be able to strengthen our firm with the addition of Chris and Jim,” said Robert Richards, president, RBJ&P. “The capital markets in commercial real estate are in the midst of great change during these economic times. Richards Barry Joyce & Partners’ approach of having a dedicated capital markets team that is fully integrated with the brokerage services teams provides clients with a best-in-class solution, and distinguishes the firm from the competition in a very critical way.”

In their roles as senior analysts within RBJ | Capital Markets, Mr. Skeffington and Mr. Tribble will perform investment and valuation analysis, produce investment offering memorandums, support transaction execution activities, and provide clients with most current market analytics and trends. RBJ | Capital Markets is a dedicated team that is fully integrated into the operations of all other service lines within Richards Barry Joyce & Partners. The team, which is led by Frank Petz, provides a broad range of services including investment sales, equity placement, structured financing, and strategic advisory.

Chris Skeffington – Prior to joining RBJ&P, Chris was an analyst at Anglo Irish Bank Corporation, working in the Commercial Real Estate Lending division. He performed valuation analyses, underwrote and restructured both new and existing loans, and was responsible for managing a loan portfolio of more than $1B in the aggregate. Chris earned a B.A. in Business Economics from Brown University. He volunteers with many youth initiatives, including the Woburn Boys’ and Girls’ Club and Woburn Youth Basketball.

James Tribble – Jim has an extensive background as both a lender and capital markets intermediary. Before joining RBJ&P, he was an analyst with Eastdil Secured, a real estate investment banking company. He has also held capital markets roles at CB Richard Ellis and Wells Fargo Bank. Jim has a wealth of experience in analyzing and structuring the entire capital stack of a commercial real estate investment – senior and mezzanine debt, preferred and joint venture equity investments, and overall valuations. He earned a B.S. in Business Management from Babson College, graduating cum laude, and is a member of NAIOP.

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 Advises Charles River Ventures In Lease Renewal

RBJ&P Negotiates 13,576 SF Lease For Venture Capital Firm’s East Coast HQ

BOSTON – June 3, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Charles River Ventures in a 13,576 square foot lease renewal for the venture capital firm’s east coast headquarters.

RBJ&P negotiated the lease at 1000 Winter Street in the Bay Colony Corporate Center (Waltham, Mass.). Charles River Ventures, one of the nation’s leading early-stage venture capital firms, leases the building’s third floor.

“Charles River Ventures works with some of the top start-up companies in the world, advising them on market strategy and helping them grow,” said Ron Friedman, senior vice president, RBJ&P. “We are pleased to have counseled them in their lease negotiations. Waltham is an excellent location for Charles River Ventures, as it places them close to many of the companies they work with.”

The RBJ&P team of Jon Varholak, partner, and Ron Friedman, senior vice president, represented Charles River Ventures. The building’s landlord, Eastern Development, was represented by FHO Partners.

“Jon and Ron provided us with exceptional expertise in this market. They made the entire process run smoothly and we could not be happier with the outcome,” said Jack Genest from Charles River Ventures.

Office Market Statistics – Route 128 West
According to research by RBJ&P, the Route 128 West submarket consists of 21,873,000 square feet of office space and was 19.0% vacant, as of the quarter ended March 31, 2010. [source: Richards Barry Joyce & Partners’ “officeSTATus – Spring 2010”]

About Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation’s oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 10 years, CRV funds have been ranked among the industry’s top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com.

About Richards Barry Joyce & Partners, LLC

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Greater Boston’s Biotechnology Real Estate Highlighted In Research Publication From Richards Barry Joyce & Partners

“bioSTATus – Summer 2010” Shows Space Constraint In Cambridge, Lab Market Outperforming Other Property Types

BOSTON – May 26, 2010 – According to bioSTATus – Summer 2010, a new research publication highlighting Greater Boston’s biotechnology research-focused (“Laboratory”) real estate market, Laboratory space continues to outperform other property types in the area, while Cambridge, a leading worldwide biotech hub, is becoming increasingly typified by a lack of affordable, available options for tenants.

bioSTATus is published twice a year by Richards Barry Joyce & Partners (RBJ&P), a full-service commercial real estate advisory firm based in Boston. The report finds that although Laboratory vacancy increased from 10.4 percent to 13.3 percent at the close of the two-quarter reporting period (March 31, 2010), it is still lower than vacancy for other property types, such as office and industrial buildings. Absorption was mixed in the major geographies, with positive absorption in Boston, negative absorption in the suburbs and flat in Cambridge.

The Cambridge Laboratory market remains particularly space-constrained. Throughout Cambridge there are only two locations offering large (100K+ square foot) blocks of space in the city. Additionally, there are only three choices in Cambridge for postwar Class A Laboratory options larger than 5,000 square feet.

“Despite a slight increase in vacancy, demand for Lab space in greater Boston remains stable and well-positioned for an uptick in demand, potentially in the balance of 2010,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “This supports the findings that, for the first time, Massachusetts-based biotech companies raised more venture capital than their Silicon Valley counterparts.”

About bioSTATus
bioSTATus is the region’s most influential research publication covering real estate for the critical biotechnology market. The report is released twice a year and delivers pertinent statistics (vacancy, market size, and absorption) and offers updates on each of the primary submarkets (Cambridge, Boston and the suburbs). Additionally, bioSTATus positions the data within the context of the broader economy,

To request a copy of RBJ&P’s bioSTATus – Summer 2010, please send an email to research@rbjrealestate.com.

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Richards Barry Joyce & Partners Negotiates 54,034 SF Lease For Coldwell Banker Residential Brokerage / NE Moves Mortgage, LLC / NRT Insurance Agency, Inc.

Lease Is One Of The Largest Relocations In Route 128 West Submarket In 2010

BOSTON – May 19, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it advised Coldwell Banker Residential Brokerage New England and its affiliated companies NE Moves Mortgage, LLC and NRT Insurance Agency, Inc. for a new 54,034 square foot lease at 52 Second Avenue in Waltham, Mass.

The companies will occupy the entire third floor of 52 Second Avenue. The companies are moving from 1601 Trapelo Road, also in Waltham, making this one of the largest relocations in the Route 128 West submarket during 2010.

“We are very excited to move our headquarters to this new location,” said Rick Loughlin, president of Coldwell Banker Residential Brokerage New England. “The modern space has allowed us to expand our sales associate training facilities and include state-of-the-art amenities for our marketing, relocation and information technology teams. Overall this new space will enable our sales management, operations teams, and our mortgage and insurance partners to work side-by-side, which wasn’t possible in the previous location.”

The RBJ&P team of Jon Varholak, partner, and Ron Friedman, senior vice president, represented the tenants in the lease. The sub-landlord of the space is National Grid, which was represented by Jones Lang LaSalle.

“Richards Barry Joyce & Partners provides in-depth real estate counsel for a wide range of companies, including those in high tech, professional services and finance,” said Ron Friedman, senior vice president, RBJ&P. “Our key is to focus on the company’s business goals and determine how best to advance those through strategic and prudent real estate decisions. We are very fortunate to work with Coldwell Banker Residential Brokerage, NE Moves Mortgage, and NRT Insurance Agency, as they are top companies in their market.”

About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage company in New England, with its affiliated companies, and joint ventures provide comprehensive homeownership services including residential real estate sales, mortgage brokerage, insurance brokerage, corporate relocation, and marketing of luxury properties. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information please visit www.NewEnglandMoves.com.

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Represents ING Clarion Partners In Multiple Leases At Waltham Woods Corporate Center

Firm Brokers Eight Leases Totaling 53,791 Square Feet

BOSTON – May 6, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented ING Clarion Partners in eight leases at 890 Winter Street in Waltham Woods Corporate Center (Waltham, Mass.).

The leases total 53,791 square feet of office space and have a mix of new leases and renewals. Tenants in the leases include companies in high technology, professional services and environmental services.

The RBJ&P team of Jay Nugent,, Jonathan Varholak and Ron Friedman represented ING Clarion in each of the transactions. RBJ&P is the exclusive leasing agent for Waltham Woods Corporate Center.

“Waltham Woods Corporate Center is considered by many to be the premier office park in suburban Boston,” said Jay Nugent, senior vice president, RBJ&P. “Its central location, bucolic setting and excellent amenities make it attractive to tenants, their employees and their customers. We are very pleased to have worked with a group of tenants that represent a broad range of industries.”

Some of the tenants in the leases are: Abington, LLP; Avaya; Maxymillian Technologies, Inc.; Newburg & Company, LLP; Wellington Shields & Co. LLC; Windjammer Capital; and Yellowbook. Details of four of the transactions include:

Avaya, a global leader in business communications, renewed its lease for 7,014 square feet on the first floor of 890 Winter Street. The communications company was represented by Newmark Knight Frank.

Newburg & Company, LLP, an accounting and financial planning firm, signed a new lease at Waltham Woods Corporate Center. The firm will move from Wellesley to 11,520 square feet of office space on the 890 Winter Street’s second floor. Newburg & Company was represented in the transaction by Jones Lang LaSalle.

Maxymillian Technologies, a comprehensive environmental services firm, signed a new lease for 4,023 square feet on the building’s second floor. The company, which is moving from another location within Waltham, was represented by Jones Lang LaSalle.

Windjammer Capital, a national private investment firm, renewed its lease for 4,523 square feet of space on the first floor of 890 Winter Street. Windjammer was represented by Landmark Real Estate Partners.

About Waltham Woods Corporate Center
Waltham Woods Corporate Center consists of two buildings, totaling 391,000 square feet of Class A office space. The buildings are centrally located in Greater Boston, minutes away from Route 128 in Waltham. Waltham Woods features a 28-acre campus setting, with woodland, reservoir and Boston skyline views. Onsite amenities include a conference center, café services, wireless internet and fitness center. Nearby amenities include day care, restaurants, retail, hotels and public transportation.

About ING Clarion Partners
Founded in 1982, ING Clarion Partners and its affiliates manage $43 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets. ING Clarion is the Americas arm of ING Real Estate Investment Management, one of the world's leading real estate investment managers with global assets under management of more than $93 billion and operations in 21 countries. More information about the firm is available at www.ingclarion.com

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Releases Quarterly Research Report On Greater Boston’s Industrial Real Estate Market

“indSTATus – Spring 2010” Shows Mixed Demand Among Greater Boston’s Industrial Property Segments: Warehouse, Flex and Manufacturing

BOSTON – April 27, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, has released indSTATus – Spring 2010,a research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings.

According to the report, demand was mixed in Greater Boston’s industrial property markets during Q1 2010. Nearly flat absorption was experienced among Flex and Manufacturing properties, while Warehouse facilities were impacted by more substantial negative demand. Asking lease rates were fairly stable across the board.

“The first quarter of 2010 saw welcome signs of improvement in many areas of the economy, helping to boost business optimism and hiring expectations,” said Brendan Carroll, vice president of research, RBJ&P. “However, this optimism has not translated as yet to the industrial real estate market. This is due primarily to concerns about the sustainability of the improvements, as well as the fact that real estate generally lags behind the general market.”

In the Warehouse market, vacancy hit the highest level in 14 quarters, increasing 0.4% to 17.9%. Absorption has been negative three of the past four quarters and it was down by 384,000 square feet during the first quarter. Asking lease rates were down slightly by $0.05 to $5.49.

Absorption was slightly positive in the Flex market, edging up 50,000 square feet, with vacancy dropping by 0.5% to 18.8%. Asking lease rates remained fairly stable, decreasing only $0.04 to $8.31; however, they are 12% lower than rents just two quarters ago.

The Manufacturing market had negative 50,000 square feet of absorption during the quarter, raising vacancy 1.2% to 16.6%. The vacancy rates may be somewhat misleading, given the high concentration of vacancy in older buildings. Asking lease rates, which were down by $0.23, closed the quarter at $6.54.

To request a copy of indSTATus – Spring 2010, please send an email to research@rbjrealestate.com.

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Richards Barry Joyce & Partners Brokers 100,000 SF Lease Renewal For TA Associates Realty

Lease Will Keep 5 Dan Road, Canton, Mass. Fully Occupied By Dynagraf, Inc.

BOSTON – April 13, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it represented TA Associates Realty in a 100,884 square foot lease renewal with Dynagraf, Inc. at 5 Dan Road, Canton, Mass.

Dynagraf, a leading provider of printing, collateral and marketing materials, occupies the entire warehouse building. The location serves as Dynagraf’s headquarters, and also houses the company’s high-tech printing operations.

“We are very pleased that Dynagraf has extended its lease for 5 Dan Road,” said John Lashar, partner, Richards Barry Joyce & Partners. “The facility is an exceedingly good fit for their operations, due to both its central location for Greater Boston and Providence and for housing Dynagraf’s state-of-the-art printing equipment. From this facility, they service some of the most well known customers in the country.”

John Lashar, Jay Nugent, Paul Leone and Robert Byrne of Richards Barry Joyce & Partners represented TA Associates Realty in the transaction. Richards Barry Joyce & Partners is the exclusive leasing agent for 5 Dan Road. Dynagraf was represented by Cushman & Wakefield.

Warehouse Market Statistics – Route 128 South
According to research by RBJ, the Route 128 South submarket consists of 11,807,000 square feet of warehouse space and was 15.5% vacant, as of the quarter ended March 31, 2010. [source: Richards Barry Joyce & Partners’ “indSTATus – Spring 2010”]

About TA Associates Realty
Established in 1982, TA Associates Realty ("TA Realty") is one of the largest and most experienced privately held real estate advisors in the United States. TA Realty manages 96 million square feet of commercial real estate and 8,900 residential units located in 35 markets nationwide. TA Realty's strong risk-adjusted returns through multiple cycles have established the firm as one of the premier real estate advisors in the country. TA Realty's funds I-IV were disposed and liquidated on schedule. www.tarealty.com

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Greater Boston Office Market Experiences Slight Increase In Vacancy During First Quarter Of 2010

Vacancy Up 0.3% To 15.8% Across Greater Boston For Q1 2010, According To Richards Barry Joyce & Partners’ “officeSTATus – Spring 2010”

BOSTON – April 7, 2010 – According to new research by Richards Barry Joyce & Partners, LLC (RBJ&P), Greater Boston’s commercial real estate office market experienced a slight uptick in vacancy during the year’s first quarter, increasing 0.3% to 15.8. The findings are included in the firm’s quarterly office report, officeSTATus – Spring 2010, which was released today.

According to the report, the Greater Boston office market experienced 204,000 square feet of negative absorption in the first quarter of 2010. Asking lease rates for Class A office space in Boston’s Central Business District are $47.31 (down 11.1% over the last twelve months) and $23.56 in the Suburbs (down 7.9% over the last twelve months). In Boston’s Financial District, East Cambridge and Route 128 West – all considered bellwether areas – rents have stabilized during the past two quarters.

“So far 2010 has shown a broadening of stabilization across larger parts of Greater Boston, particularly as compared to what we were experiencing during 2009 and the latter part of 2008,” said Brendan Carroll, vice president of research, RBJ&P. “In some of the submarkets that seem to still be lagging, it should be noted that the presence of fully vacant buildings may be distorting the actual picture.”

This quarter, RBJ&P unveiled a new design for officeSTATus. Graphics and charts provide more information, yet with increased readability. A “Quick Look” graph on the front page provides and excellent summary of the figures many people are interested in (vacancy and asking lease rates by geography, with year-over-year comparison figures). The table on the final page, with all the pertinent market statistics – vacancy, market size, absorption and availability – now also includes construction information.

The report begins with an executive summary with bulleted highlights of the quarter, followed by the “Economy & Real Estate” section, which places the quarter’s results into a broader economic context. Each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – has a page devoted to specific findings for that area. This quarter’s “Market Interesting” page gives an overview of “Ten Facts About Fully Vacant Buildings.”

To request a copy of officeSTATus – Spring 2010, please send an email to research@rbjrealestate.com.

RBJ&P Research
In addition to officeSTATus, RBJ&P publishes ten other quarterly research reports: flexSTATus, which highlights Flex property types; indSTATus, which focuses on Industrial property types; and individual marketSTATus reports on eight crucial 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.

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Satcon Technology Corporation Expands Into 19,845 SF At 21-23-25 Drydock Avenue, In The Boston Seaport’s Emerging Innovation District

Satcon Technology Corporation Is A Leading Provider Of Utility Scale Power Solutions For The Renewable Energy Market

BOSTON – March 31, 2010 – Millennium Partners announced today that Satcon Technology Corporations has begun operations in its newly leased development and testing facility on the first floor of 21-23-25 Drydock Avenue in Boston’s Seaport District.

Richards Barry Joyce & Partners, LLC brokered the 19,845 square foot lease on behalf of the landlord, CV Dry Dock Avenue LLC, which is a Millennium Partners venture through its Cargo Ventures affiliate. Cargo Ventures has a long-term ground lease on the building from the city of Boston. 21-23-25 Drydock Avenue is an 820,000 square foot building located in Boston’s Marine Industrial Park.

“23 Drydock has exactly the space we needed to move our company forward,” said Daniel Gladowski, vice president of Satcon. “The location’s affordability helps our financial performance and Drydock Avenue’s waterfront location is a great and creative place to work.” Satcon Technology Corporation is a leading provider of utility scale power solutions for the renewable energy market.

Joseph Larkin, a principal of Millennium Partners said “We are very happy to have Satcon Technology in our building; they are exactly the kind of innovative company that keeps Boston dynamic. At 21-23-25 Drydock Avenue tenants can really experience the Boston Waterfront, and, with the property’s unique capital structure, we can provide great space at a remarkably low cost.”

Thomas Ashe, senior vice president, of Richards Barry Joyce & Partners represented the landlord in the lease. RBJ&P is the exclusive leasing agent for CV Dry Dock Avenue LLC’s portfolio, which consists of 21-23-25 Drydock Avenue. Satcon Technology Corporation was represented internally.

Office Market Statistics – Boston’s Seaport District
According to research by RBJ, Boston’s Seaport District submarket consists of 4,783,000 square feet of office space and was 12.0% vacant, as of the quarter ended December 31, 2009. [source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About Millennium Partners
Millennium Partners and its affiliate Cargo Ventures is a diversified real estate development company that has owned and developed more than four million square feet in Boston, including the Ritz Carlton Towers on Boston Common, the 10 St. James / 75 Arlington Street office building in the Back Bay, One Harbor in the Marine Industrial Park and179 Lincoln Street in Downtown Boston.

About Satcon Technology Corporation
Satcon Technology Corporation is the leading provider of utility scale power solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 24 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit www.Satcon.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, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at.

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Richards Barry Joyce & Partners Represents TA Associates Realty

In 147,578 SF Lease Renewal And Major Expansion

Owens & Minor Triples Its Presence At 20 Freedom Way, Franklin, Mass.; Building Maintains Full Occupancy

BOSTON – March 30, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it brokered a 147,578 square foot lease renewal and expansion on behalf of TA Associates Realty at 20 Freedom Way, Franklin, Mass. The lease brings the building to full occupancy.

TA Associates Realty signed a lease with Owens & Minor, a leading distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company. The Fortune 500 company renewed its lease on 47,459 square feet and expanded its presence in the warehouse building by an additional 100,119 square feet, more than tripling its original footprint.

“20 Freedom Way is an excellent fit for Owens & Minor and we are very pleased that the company decided to commit long-term to the building,” said John Lashar, partner, Richards Barry Joyce & Partners. “The building’s proximity to the region’s major highway, modern features and clear heights make it one of the more sought-after facilities in the market.”

20 Freedom Way is a state-of-the-art, high bay warehouse building, featuring 36’ high ceiling and ESFR sprinkler systems. The building is located in a master planned industrial park and offers fast access to I-495. RBJ&P is the exclusive leasing agent for 20 Freedom Way.

John Lashar, Paul Leone and Samantha Hallowell of Richards Barry Joyce & Partners represented TA Associates Realty in the transaction. Owens & Minor was represented by Jackson & Cooksey.

Warehouse Market Statistics – I-495 South
According to research by RBJ, the I-495 South submarket consists of 17,101,000 square feet of warehouse space and was 20.0% vacant, as of the quarter ended December 31, 2009. For high bay warehouse space, the vacancy rate drops considerably to 12.0%. [source: Richards Barry Joyce & Partners’ “indSTATus – Winter 2010”]

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Richards Barry Joyce & Partners Completes New 25,952 SF Lease At 90 Central Street in Boxborough, MA

BOSTON – March 5, 2010 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it completed a new 25,952 square foot lease transaction at 90 Central Street, Boxborough, Mass. The tenant in the lease is Qualcomm Incorporated.

Qualcomm (NASDAQ: QCOM), a leader in developing and delivering innovative digital wireless communications products and services, will occupy office space on the building’s first floor. The company is moving to 90 Central Street from its current location in Concord, Mass.

The 90 Central Street building, which is owned by Piedmont Office Realty Trust, Inc., was constructed in 2001 as a build-to-suit for Agilent Technologies, and consists of three floors and 175,000 square feet of office space. Situated just off Route 2 and a few minutes away from I-495, the building is located in Greater Boston’s “tech corridor.” The building has 34,500 square feet of space available for lease.

The Richards Barry Joyce & Partners team of John Wilson, Brian McKenzie, James Lipscomb and Robert Byrne represented Piedmont Office Realty Trust, Inc. in the transaction. RBJ is the exclusive leasing agent for 90 Central Street. The tenant was represented by Stephen Cook and Jack Kerrigan of Grubb & Ellis.

Office Market Statistics – I-495 North
According to research by RBJ, the I-495 North submarket consists of 14,536,000 square feet of office space and was 21.3% vacant, as of the quarter ended September 30, 2009. [source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About Piedmont Office Realty Trust, Inc.
Piedmont Office Realty Trust is a public REIT specializing in Class-A office properties. As of September 30, 2009, Piedmont owned 73 office buildings, as well as 2 industrial and 8 joint venture interests. The wholly-owned portfolio totals approximately 21 million square feet, in 22 states and Washington, D.C. Across its office portfolio, Piedmont properties are approximately 90 percent leased. The Company has a BBB stable investment grade credit rating by Standard & Poors and a Baa3 rating from Moody’s. For more information, see www.piedmontreit.com.

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Chase Corporation Leases Office And Laboratory Building In Westwood

Richards Barry Joyce & Partners Negotiates Long-Term 20,200 SF Lease On Behalf Of Leading Manufacturing Company

BOSTON – February 17, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, announced today that it negotiated a new 20,200 square foot lease for Chase Corporation (NYSE Amex: CCF) at 295 University Ave., Westwood, Mass.

Chase Corporation, a global manufacturer of protective tapes and coatings, signed a long-term lease for the entire single-story building. The new facility will house R&D, selling and administrative resources from the company’s former Albany, NY and Taunton, Mass. locations, as well as personnel from its Randolph, Mass. facility. The building consists of office and laboratory space.

“Our new Westwood operations center has allowed us to consolidate three locations into one, which will provide both significant cost savings and increased operational efficiency,” said Adam P. Chase, president and chief operating officer, Chase Corporation. “The new facility is an exceptional fit for our needs and we appreciate the efforts from Richards Barry Joyce & Partners in helping to secure this location.”

Richards Barry Joyce & Partners’ John Lashar, partner, Paul Leone, senior vice president, and Jay Nugent, senior vice president, represented Chase Corporation in the transaction. The building’s landlord, BEC 1999 Development Trust, was represented by Colliers Meredith & Grew.

Market Statistics – Route 128 South
According to research by Richards Barry Joyce & Partners, the Route 128 South submarket consists of 11,697,000 square feet of office space and was 16.4% vacant, as of the quarter ended December 31, 2009. [Source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About Chase Corporation
Chase Corporation, founded in 1946, is a global manufacturer of tapes, laminates, sealants and coatings for high reliability applications, and provides contract assembly services for the electronics industry. www.chasecorp.com

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Richards Barry Joyce & Partners Negotiates New 21,148 SF Lease For MRV Communications

Networking Company Leases Space At 300 Apollo Drive In The Chelmsford Office & Research Park

BOSTON – February 11, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a new 21,148 square foot lease for MRV Communications at 300 Apollo Drive in Chelmsford, Mass.

MRV Communications, which is moving from Littleton, Mass., has leased office space on the building’s third floor. The location will house members of the networking company’s engineering, operations and customer service teams.

300 Apollo Drive is located in the Chelmsford Office & Research Park. The building offers a full-service cafeteria, fitness facility and close proximity to I-495 and Route 3.

“We worked very closely with MRV Communications to determine their real estate needs, based on their overall business objectives,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “After a broad review of options in the market, we were pleased to help them locate at 300 Apollo Drive. The building’s amenities and location are a very good fit for the company.”

Richards Barry Joyce & Partners’ Brian McKenzie, partner, John Wilson, partner, and James Lipscomb, senior vice president, represented MRV Communications in the transaction. The building’s landlord, Chelmsford Associates, LLC, was represented by Lincoln Property Company.

Office Market Statistics – I-495 North
According to research by RBJ, the I-495 North submarket consists of 14,536,000 square feet of office space and was 21.3% vacant, as of the quarter ended December 31, 2009. [Source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About MRV Communications
MRV Communications, Inc. is a leading provider of packet switching, packet optical (P-OTS), physical layer and out-of-band networking equipment, services and optical components for high-speed carrier and enterprise networks and specialized aerospace, defense and other communications networks. Through its wholly owned SourcePhotonics, Inc. subsidiary, the company provides optical communications components for access and fiber-to-the-premises applications. MRV markets and sells its products worldwide, with operations in Europe that provide network system design, integration and distribution. For more information please call (978) 431-5011 or visit our websites at www.mrv.com and www.sourcephotonics.com.

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Brokers Two New Leases Totaling 29,092 SF On Behalf Of CrossHarbor Capital Partners LLC

New Leases In Andover, Mass. Indicate Appeal Of River Place At I-93

BOSTON – February 3, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, announced today that it negotiated two new leases on behalf of CrossHarbor Capital Partners at River Place at I-93, located in Andover, Mass. The leases, which total 29,092 square feet, were signed with Casa Systems, Inc. and uReach Technologies, Inc.

Casa Systems, a leader in next generation cable edge technology, signed a lease for 16,086 square feet of office and R&D space on the building’s first floor. The company is relocating its corporate headquarters from 10 New England Business Center in Andover. The new lease represents an approximate expansion of 5,000 square feet. Casa Systems was represented in the transaction by NAI Hunneman.

uReach Technologies, a leading provider of converged communications solutions for wireless, wireline and broadband carriers, leased 13,006 square feet of office and R&D space, also on the building’s first floor. The technology company is relocating from 200 Bulfinch Drive in Andover. uReach was represented in the transaction by Robert Byrne, assistant vice president, of Richards Barry Joyce & Partners.

“River Place at I-93 is a very attractive location in the I-495 market, with its excellent location, superb highway visibility and amenities,” said Brian McKenzie, partner, Richards Barry Joyce & Partners. “The building improvements made by CrossHarbor Capital Partners and, as importantly, their ability to react quickly to the tenants’ requirements in an unstable economic environment were key contributors to the success of attracting these two tenants.”

Brian McKenzie and Robert Byrne of Richards Barry Joyce & Partners represented CrossHarbor Capital Partners in the leases. RBJ is the exclusive leasing agent for River Place at I-93.

About River Place at I-93
River Place at I-93, whose address is 100 River Road, is a 121,000 square foot building offering first class office and R&D space. The building is located in the heart of I-495’s technology market. Situated directly off I-93, the building offers unparalleled highway access and excellent highway visibility.

Nearby amenities include restaurants, hotels, and several day care providers. Built in 1985, River Place at I-93 is undergoing extensive renovations, including an updated three-story atrium lobby, upgraded loading docks and HVAC systems, and improved landscaping and parking lot surface.

Office Market Statistics – I-495 North
According to research by RBJ, the I-495 North submarket consists of 14,536,000 square feet of office space and was 21.3% vacant, as of the quarter ended December 31, 2009. [source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About CrossHarbor Capital Partners
Since its inception in 1993, CrossHarbor Capital Partners has been recognized as a leading manager of alternative investments. The company combines a disciplined, multi-asset investment strategy with highly experienced professionals to generate superior, risk-adjusted returns for the firm and its investors. CrossHarbor Capital’s business model is performance based and its investment activities exclusively emphasize opportunistic transactions in the following sectors: real estate, distressed loans and private equity. www.crossharborcapital.com

About Richards Barry Joyce & Partners, LLC

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Richards Barry Joyce & Partners Releases New Research Reports On Greater Boston’s Industrial And Flex Properties

Reports Show Slight Improvement In Warehouse And Manufacturing Properties; Continued Decline In Flex Market

BOSTON – January 26, 2010 – Richards Barry Joyce & Partners, LLC, a full-service commercial real estate advisory firm, has released its two quarterly research reports on warehouse, manufacturing and flex properties: indSTATus – Winter 2010 and flexSTATus – Winter 2010.

Richards Barry Joyce & Partners’ indSTATus report details the industrial market, consisting of warehouse and manufacturing property types. During the fourth quarter of 2009, both property types saw positive absorption and slight decreases in vacancy. Asking lease rates in each market, however, continued to drop.

In the warehouse market, there was positive absorption of 187,000 square feet, which pushed the vacancy rate down slightly by 0.3% to 17.5%. Asking lease rates for warehouse properties closed the quarter down slightly (by $0.03 to $5.54) and are now 10% below levels seen six quarters ago.

The manufacturing market had a minimal amount of positive absorption (36,000 square feet) and vacancy decreased by 0.2% to 15.4%. Asking lease rates, which have fallen 20% in six quarters, were down $0.16 to $6.77.

The Greater Boston flex market, covered in the flexSTATus report, experienced 309,000 square feet of negative absorption in Q4 2009. Vacancy increased 1.1%, closing the quarter at 20.3%, and asking lease rates dropped by $0.19 to$8.54. For the year, tenants vacated more flex space in 2009 than in any other year since 2002.

“In the property types covered by indSTATus and flexSTATus – warehouse, manufacturing and flex – there continues to be a tale of two property types,” says Brendan Carroll, vice president of research for Richards Barry Joyce & Partners. “Not surprisingly, the vast majority of activity is concentrated in newer properties, those with better locations and, in the case of warehouses, those with higher clear heights. This trend will likely continue, as commercial real estate follows the general economy into recovery.”

To request a copy of indSTATus – Winter 2010 or flexSTATus – Winter 2010, please send an email to research@rbjrealestate.com.

RBJ Research Publications
indSTATus and flexSTATus are two of RBJ’s family of eleven quarterly research reports. RBJ also publishes a quarterly office report (officeSTATus) and individual marketSTATus reports on eight critical sub-markets. The firm’s biotechnology-focused report, bioSTATus, is released twice a year, after the first and third quarters. In total, the firm produces an industry-leading 46 reports per year, in addition to custom research projects for clients.

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Richards Barry Joyce & Partners Brokers Five Of Top Six Cambridge Leases In 2009

Firm Brokers Leases Totaling In Excess Of 600,000 SF Of Lab And Office Space

BOSTON – January 19, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that the firm brokered five of the top six leases in the city of Cambridge, Mass. during 2009 – a group of transactions that totaled 624,963 square feet of laboratory and office space.

“Cambridge was without a doubt the most stable submarket in an otherwise very tumultuous year for Greater Boston commercial real estate,” said Steven Purpura, partner at Richards Barry Joyce & Partners and head of the firm’s Cambridge advisory group. “East Cambridge, in particular, stands out as the world’s preeminent cluster for cutting edge technology and life sciences research and development.”

Fitting for its reputation as a biotechnology and life sciences leader, Cambridge was dominated by laboratory leases in 2009. Of the top six leases in Cambridge, five were for laboratory and the sixth was for office space – an 84,373 square foot lease renewal and expansion for ITA software. Of the city’s top ten leases, eight were completed by biotechnology companies.

Following are details of Richards Barry Joyce & Partners’ top Cambridge leases. Richards Barry Joyce & Partners’ Cambridge advisory group includes Steve Purpura, Robert Richards, Jonathan Varholak and Eric Smith.

Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) signed a 292,000 square foot lease renewal at 40 Erie Street and 200 Sidney Street, for laboratory and office space. Richards Barry Joyce & Partners represented the landlord, BioMed Realty Trust, Inc. Vertex was represented by CB Richard Ellis. Vertex Pharmaceuticals Incorporated is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases.

Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) signed a lease extension and expansion at 300 Third Street. The company expanded its presence by 33,022 square feet and now occupies 95,410 square feet at the location. Alnylam, a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi, was represented by Richards Barry Joyce & Partners. The landlord, Alexandria Real Estate Equities, Inc., was represented internally in the transaction.

ITA Software, Inc., the leader in developing innovative solutions for the travel industry, signed Cambridge’s largest office lease in 2009 – an 84,373 square foot lease renewal and expansion at 141 Portland Street. The software company expanded its footprint at the building by 30,046 square feet. Richards Barry Joyce & Partners represented ITA Software and the building’s landlord, Intercontinental Real Estate Corporation, in the transaction.

Broad Institute signed a new lease for 79,863 square feet of laboratory space at 301 Binney Street. Richards Barry Joyce & Partners represented the building’s landlord, BioMed Realty Trust, Inc. CB Richard Ellis represented the Broad Institute.

The Forsyth Institute signed a new headquarters lease at 245 First Street. The lease totals 73,317 square feet of laboratory space. Richards Barry Joyce & Partners represented the building’s landlord, Equity Office Properties. Forsyth, the world’s leading independent organization dedicated to scientific research and education in oral health and related biomedical sciences, was represented by Cushman & Wakefield..

Cambridge Market Statistics
According to research by Richards Barry Joyce & Partners, the Cambridge submarket has 8,061,000 square feet of laboratory space (14.7% vacancy) and 12,807,000 square feet of office space (9.3% vacancy), as of the quarter ended December 31, 2009. [source: Richards Barry Joyce & Partners’ “officeSTATus – Winter 2010”]

About Richards Barry Joyce & Partners, LLC

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Standard Electric Supply Co., Inc. Renews Headquarters Lease In Wilmington, Mass.

Richards Barry Joyce & Partners Negotiates 43,367 SF Lease On Behalf Of Electrical Distributor

BOSTON – January 12, 2010 – Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced today that it brokered a 43,367 square foot lease renewal for Standard Electric Supply Co., Inc., at 14 Jewel Drive, Wilmington, Mass.

14 Jewel Drive is Standard Electric’s corporate headquarters. The company leases office and warehouse/distribution space on the building’s first and second floors. Standard Electric is one of the largest electrical distributors in New England and one of the top 50 in the nation.

“Our headquarters in Wilmington is an excellent fit for Standard Electric,” said Ross Army, D.C. Operations Manager, Standard Electric Supply Co., Inc. “This location also includes Standard Electric’s distribution center, which helps us to maintain efficient operations and continue to offer our high level of customer service.”

Richards Barry Joyce & Partners’ Brian McKenzie, partner, and James Lipscomb, senior vice president, represented Standard Electric in the transaction. The building’s landlord, Howland Development Company, was represented internally.

Warehouse Market Statistics – Route 128 North
According to research by RBJ, the Route 128 North submarket consists of 8,153,000 square feet of warehouse space and was 15.5% vacant, as of the quarter ended December 31, 2009. [Source: Richards Barry Joyce & Partners’ “indSTATus – Winter 2010”]

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