AY Inks NBD Nanotechnologies to 8,412 SF at Related Beals Ledgemont Tech CntrJanuary 31, 2019
The company will relocate from their current location on Western Ave in Boston to 128 Spring Street Lexington, MA in the Ledgemont Technology Center, owned by Related Beal. Avison Young Senior Vice President Justin Dziama and Senior Associate James McCarthy, of the AY Boston office, represented the tenant.
NBD Nano’s operation requires a robust chemistry laboratory that demands extensive capital investment to the buildings systems and internal lab. Avison Young was faced with the challenge of identifying a building that could easily be converted to support their operation or find an existing facility where most of the lab and infrastructure could be reused minimizing the investment from NBD Nano.
“We were able to identify a larger block of space that was being vacated and had an existing lab that could support NBD Nano’s immediate and long-term growth plans,” says Dziama. “NBD Nano’s lease is unique in that they were able to secure an existing facility that matches their needs with no capital investment at below-market rent.”
“In an extremely competitive lab/office market, Avison Young was the clear choice for quality placement services, tailoring to unique requests,” relayed Co-Founder Miguel Galvez of NDB Nano.
The current vacancy rate for lab space in Greater Boston is 2.4% with demand outweighing supply at 6 to 1. In most lab transactions the tenant is required to make a capital investment to the facility above what the landlords are providing in their tenant improvement allowance.