11 Continental Boulevard 100 Percent Occupied
12 Oct, 2006, Merrimack
Cushman & Wakefield Negotiates Major Leases Totaling 72,000 Square Feet
On behalf of Merrimack Office Properties, Cushman & Wakefield today announced the completion of two major lease transactions involving 72,000 square feet of first class office space. The combination of both leases recently brought 11 Continental Boulevard in Merrimack from a vacant property to 100 percent occupied. Cushman and Wakefield Executive Director Thomas P. Farrelly and Director Denis Dancoes II and Associate Sue Ann Johnson represented the Landlord—Merrimack Office Properties—in both transactions.
“These two transactions bring growing corporations offering attractive high paying jobs to Merrimack and they fill a significant void in the local office market,” said Thomas P. Farrelly, executive director of Cushman Wakefield’s New Hampshire offices.
Cushman & Wakefield initially negotiated a 60,000 square foot office lease with Compuware Corporation, a recognized industry leader in enterprise software and IT services. The company expanded and relocated from Nashua. It serves the world's largest IT organizations, including 95 percent of the Fortune 100 companies.
With the Compuware agreement in place, Cushman & Wakefield subsequently leased the remainder of the building to Oztek Corporation in a 12,000 square foot office transaction. Oztek Corp. was founded in Merrimack, NH in 1997 to provide superior design engineering services and specialty products to the motion control and power electronics industries.
Originally, 11 Continental Boulevard was a 176,000 square foot Texas Instruments engineering design center used as a silicon wafer fabrication plant. Approximately 100,000 square feet of that structure was demolished. The site was then subdivided and developed by Regency Centers to accommodate a retail grocery store anchored strip center built for Shaws Supermarket and several smaller tenants. The remaining engineering design center was redeveloped by locally owned Merrimack Office Properties and presently sits as a finely appointed 72,000 square foot Class A office complex on 7.5 acres. The facility is directly adjacent to Exit 11 on the F.E Everett Turnpike, less than 30 minutes from the Manchester Airport and one hour from Boston.
Monks & Company represented Compuware and Valentine & Scanlon represented Oztek Corporation in the recent lease transactions.
Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.
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