SVN | Parsons Commercial Group | Boston is pleased to announce the completion of 20,000 square feet of lease renewals and new deals at Knowledge Park in Marlborough bringing the 3-building office park to 90% occupancy.
Within the past couple of months, Knowledge Park has expanded, renewed, and welcomed four new tenants to the park. The Better Business Bureau, a non-profit organization currently located in Marlborough, will occupy 4,078 SF on the first floor of Building 4. Lightelligence, an AI hardware company, will be moving into 3,768 square feet to accommodate their rapid growth and success. Ellie Mental Health, which offers mental health services for all ages, leased 2,732 square feet at Building 2, opening their first Massachusetts location. In addition to these new tenants, one of Knowledge Park’s largest tenants, Solmetex (medical equipment manufacturing) recently renewed their current lease and expanded their footprint to 11,609 square feet.
“We continue to see strong activity in new deals, renewals, and expansions at Knowledge Park”, said Senior Advisor Garrett Quinn of SVN | Parsons Commercial Group | Boston. “Ownership at Knowledge Park continues to retain tenants and offer unique and effective solutions for office tenants in the MetroWest market”.
Knowledge Park consists of three buildings (2, 4, and 5 Mount Royal Ave) for a total of 161,000 square feet conveniently located on Route 20 directly off I-495.
CB Equities purchased the three-building portfolio in 2017 and has made significant improvements including a state-of-the art gathering space called “The Club Room” that offers a free Starbucks coffee machine, comfortable co-working rooms, outdoor patio, a fitness center, and a business lounge.
“We want new and existing tenants to know that we can accommodate their office space needs whether they are complex or simple”, said Bob MacNamara, President of Dartmouth Property Management who manages the campus. “We’ve been very successful in helping tenants with their office layouts while offering effective and creative solutions to ensure our tenants are getting the most out of their office space”.
Building 2 is currently in the middle of a renovation to the façade. Ownership is painting the exterior and adding wood paneling to the front of the building that faces Route 20.
Façade improvements to Building 2 are scheduled to be completed by November 2022