Avison Young negotiates 8,412-square-foot lease for the Relocation of NBD Nanotechnologies Inc. Headquarters
Boston — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has negotiated the lease for the expansion and relocation of NBD Nanotechnologies Inc’s (NBD Nano) headquarters.
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, who are based in the company’s 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 a below market rent.”
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.
“In an extremely competitive lab/office market, Avison Young is the clear choice for quality placement services, tailoring to the unique requests of the client,” comments Co-Founder Miguel Galvez of NDB Nano. “NBD Nano had two great experiences with Avison Young and we would highly recommend, especially for office/lab space expansion needs,” adds Co-Founder Deckard Sorensen.
Ledgemont Technology Center is located at the intersection of Route 2 and Route 95.
About NBD Nanotechnologies Inc.
NBD Nanotechnologies, Inc. is a venture backed company located in Boston, MA. The inspiration for NBD came from the Namib Desert Beetle, a beetle that has the ability to harvest water every morning in the Namibian desert using unique surface properties. Based on years of research coming from elite university laboratories, NBD focuses on coatings and additives that modify surface wettability. NBD’s broad product portfolio can influence surface properties for glass and plastic materials to create ultra-durable and functional surface wetting properties.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in 85 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.