The RAM Companies has leased 38,615 square feet of flex/R&D space at 100 Research Drive in Wilmington, Mass. to Warner Babcock Institute for Green Chemistry LLC.
Newmark Managing Principal James B. Thomson and Associate Director Dan Collins, both of the global real estate services firm’s Boston office, represented RAM in lease negotiations.
In mid-2007, Thomson, Collins and Douglas Jacoby, also a member of Newmark’s Boston office, represented RAM in its acquisition of the 100 Research Drive property for $11 million. Situated on 15 acres near I-93 in the Ballardvale commercial district of Wilmington, the 103,000-square-foot building is one of the few in this marketplace to feature extensive laboratory space - a fact that played a major role in RAM’s decision to buy.
“RAM bought the 100 Research Drive building fully recognizing that its existing laboratory infrastructure made it an extremely valuable property,” said Collins. “They knew it was one of a small number of such buildings in this market - and that it would be extremely attractive to tenants needing lab space, but wanting to save money by not having to build it out themselves.”
A research and development company devoted to providing environmentally friendly technological solutions for society, Warner Babcock will be moving here from a location in nearby Woburn, Mass. Steve Murphy, a principal of Boston-based CB Richard Ellis/Lynch Murphy Walsh Advisors, represented Warner Babcock in lease negotiations.
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