Milford Retail Center Turned Manufacturing Space Scores 140K-SF Lease
Boston, MA-based Lincoln Property Company has represented Ambri, a renewable energy storage technology firm, in a 140,000-square-foot lease at 196 E Main Street in Milford, MA. The MIT-spinoff is scaling up production and commercialization of a long-duration battery.
Ambri’s new manufacturing facility will be located at Quarry Square, a former retail center anchored that is being redeveloped into high bay flex/manufacturing space.
Chris Scott of LPC represented the tenant and Steve Clancy and Danielle Simbliaris of CBRE represented the landlord, R.J. Kelly, in the lease transaction.
According to LPC, greater Boston’s industrial market remains red-hot, with converging demand for like product from new economy tenants driving vacancies to historic lows finishing Q1 2022 at 2.5% in the industrial/warehouse segment and 5.3% in the flex/R&D segment. The market’s record-high occupancies leave limited options for quality large blocks of space for light manufacturing or R&D companies looking to expand. Just 18 blocks of flex/R&D space larger than 100,000 square feet are available across the metro, only two of which are in Class A properties.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.