Newmark Group
Update
05/29/24
Newmark Finalizes 142,224 SF Lease for Persimmon Technologies at R&D Facility in Bedford, MA
Newmark announces it helped secure a new 142,224-square-foot, long-term lease for Persimmon Technologies at a state-of-the-art R&D facility at 35 Crosby Drive in Bedford, Massachusetts. The transaction welcomes new tenant Persimmon Technologies (“Persimmon”).
Newmark Executive Managing Directors Richard Ruggiero, Torin Taylor and Matthew Adams, as well as Senior Managing Director Rory Walsh, facilitated the transaction on behalf of ownership, W. P. Carey, one of the largest net lease REITs, with more than 1,200 properties across approximately 168 million square feet.
“By working closely with the property owner, we successfully secured a long-term lease for this prestigious global technology company,” says Ruggiero.
Taylor added, “We are proud to have advised on this transaction, with a favorable outcome for all involved.”
Persimmon is a global leader in robotics and electric motors, specializing in vacuum robotics for semiconductor, LED and flat panel display equipment markets worldwide. 35 Crosby Drive will serve as their North American headquarters and be used for various purposes, including offices, manufacturing, testing and R&D.
35 Crosby Drive, on the Bedford/Burlington/Billerica line, is in the heart of suburban Boston’s most dynamic submarket, proximate to the Route 128 Tech Corridor, with easy access to Massachusetts’s major highways, downtown Boston and Logan Airport. W. P. Carey is transforming the property, formerly used for light assembly and office, into a state-of-the-art R&D facility. The renovation is expected to be completed in late 2025. The facility is.
Colliers represented the tenant on the lease transaction.
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