Manufacturing Firm Indicators New 31,000-Sq.-Foot Lease in Billerica at Axis Park North

Boston— Newmark introduced the 30,665-square-foot R&D lease for ASMPT AEi—a world chief within the automotive digicam lively alignment market—at 101 Billerica Avenue within the Axis Park North campus in Billerica, MA.

Newmark Senior Managing Director Rory Walsh and Government Managing Administrators Richard Ruggiero, Torin Taylor and Matthew Adams represented the owner, a partnership between Boston-based Camber Improvement and Wheelock Avenue Capital, within the transaction. Over the previous twelve months, the group has leased over 130,000 sq. toes on the campus on behalf of the owner.

“The continuing leasing exercise and curiosity now we have seen at Axis Half North underscores the continued power of and demand for extremely purposeful R&D/flex product in Boston’s North submarket,” mentioned Walsh. “ASMPT AEi makes an ideal addition to a rising roster of tenants who’ve chosen Axis Park North as a house base for innovation.”

In accordance with Newmark Analysis’s 3Q22 Boston Industrial Market Report, R&D/Flex was the one subtype to report a constructive absorption charge at 91,583 sq. toes, totaling 295,784 sq. toes of constructive absorption throughout the first three quarters of 2022. Higher Boston’s industrial market fundamentals remained wholesome, closing the quarter with record-low vacancies at 3.3%, record-high asking rents at $13.88/SF NNN, continued demand for Class An area with Warehouse/Distribution asking rents nearing $16.00/SF NNN–a 30.2% enhance year-over-year.

Axis Park North is a 38-acre, master-planned R&D/flex/workplace campus that includes six buildings that whole 450,000 sq. toes. The campus serves because the headquarters, enlargement and incubator areas for world-leading life science, medical machine manufacturing, R&D and robotics firms. Conveniently situated, Axis Park North gives entry to facilities—together with a number of eating places, daycare services, motels and health facilities—and is lower than 45 minutes to downtown Boston and Logan Worldwide Airport.

CBRE’s Kevin Kennedy and Tom Hovey represented the tenant, ASMPT AEi, on the transaction.

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