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Boston Commercial Real Estate
Succes Stories - Recent Transactions
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McPherson Corporation has represented clients in over 800 transactions ranging from start up spaces of 1,000 square feet to office R&D centers of 500,000 square feet. Our expertise as problem solvers has been utilized by Fortune 500 firms, as well as venture funded startups.
Our services have saved our clients consistently 10-20% or more on annual occupancy costs based on landlord value. Our experience and expertise in negotiation of the lease document creates additional value in the terms of the lease that we pursue on behalf of our clients, saving time, money over the lease term, and expenditure of effort of our clients.
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Braintree Laboratories
58 Teed Drive, Randolph, MA
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Braintree Laboratories (www braintreelabs.com)
30,000 SF Renewal
58 Teed Drive, Randolph, MA
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Neurometrix, Inc.
62 Fourth Avenue, Waltham, MA
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Neurometrix, Inc. (www neurometrix.com)
30,000 SF Renewal
62 Fourth Avenue, Waltham, MA
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early renewal at rent levels 22% below their existing lease rate
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immediate reduction of letter of credit which was reflective of a different market and tenant profile to market rate security
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included buildout allowance which addressed problem areas for tenant
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process closed in spite of stock drop before lease execution based on open discussions with landlord through the course of the negotiations
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The Boston Spine Group, LLC
One Newton Place, Newton, MA
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The Boston Spine Group (www.bostonspinegroup.org)
7,532 SF New space
1 Newton Place, Newton Corner, MA
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required built-out medical office space within extremely short timeframe because of upcoming lease expiration
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identified site which had existing infrastructure as medical space in a very desirable location for tenant, vacant for over 2 years with a motivated landlord
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negotiated for additional $70 PSF of tenant improvement allowance including free rent as compared to approx. $25 allowance in other transactions in the property, based on strength of tenant and uniqueness of the space. Negotiated rent levels allowed expansion of space by 70% as compared to old space at just slightly more annual cost
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advised on contractors and architects that allowed space to be completed on time, on budget
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DA Davidson, Inc.
1 International Place, Boston, MA
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D.A. Davidson & Company (www.dadco.com)
2,300 RSF, Class A office
1 International Place, Boston, MA
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requirement to find existing financial services trading floor space in Class A product in a 45 day timeframe from start of search to occupancy
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Located existing trading desk operation with existing infrastructure and furniture with a landlord capable of making quick decisions, and closed transaction within twenty days from start of search
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tenant occupied space within the 45 day deadline with a turnkey construction
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AbPro Labs, Inc.
One Kendall Square, Cambridge, MA
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AbPro, Inc. (www.abpro-labs.com)
3,450 SF New laboratory space
1 Kendall Square, Cambridge, MA
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requirement to find a small lab space with extremely tight availability in Cambridge area with high rent levels
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negotiated with an experienced landlord to convert a difficult office space into a more valuable lab space
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negotiated for improvements to be amortized over term from office rent levels resulting in below market costs for lab (comparable lab trades at premium levels)
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work done in a short window based on requirements of tenant and their venture backers
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introduced and advised on contractors and architects for bid process resulting in competitive pricing
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Sterling Corporation
20 Industrial Drive, Chelmsford, MA
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Sterling Corporation/Sterling North American
121,600 SF Purchase, Class A Office and Warehouse
20 Industrial Avenue, Chelmsford, MA
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located an off market (not for sale) site which was part of a larger site that met buyer's requirements with extremely difficult parameters, including a very small market area, physical parameters, pricing, etc.
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inquired with landlord/owner as to whether they would sell, then negotiated an agreement that allowed owner to rid themselves of non-performing asset while retaining a high performing asset, and buyer to purchase site 10% below appraised value with an existing tenant which would allow future expansion of the owner’s business while generating cash flow
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supplied contacts for financing, helped arrange inspections and fulfill requirements of seller and lender
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Scientific Learning, Inc.
135 Beaver Street, Waltham, MA
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Scientific Learning, Inc. (http://www.scilearn.com/index.php)
6,026 SF, new space
135 Beaver Street, Waltham, MA
- company was purchased during initial space search
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original parameters for size changed as a result of new company requirements
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switched locations based on new requirements with an extremely short timeframe and no holdover possible
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based on experience, identified a landlord that was capable of the quick turnaround required for the larger space while also securing a 15% cheaper rent PSF than the initial space
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provided mover and space planning contacts that allowed smooth transition
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UFA, Inc.
18 Commerce Way, Woburn, MA
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UFA, Inc. (http://www.ufainc.com/)
10,660 SF Renewal and expansion
18 Commerce Way, Woburn, MA
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early renewal combined with 20% expansion
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negotiated a total annual rent that was less than the existing rent level based on market knowledge and familiarity with landlord approach
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rent included a turnkey tenant improvement package
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provided contacts that allowed for smooth phasing of move and tenant improvements
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