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Chelmsford filling Route 129 vacancies after loss of Kronos, Mercury


But many town officials, working together over the past year with businesses, real estate brokers and other stakeholders ... pool that extends throughout Massachusetts and southern New Hampshire. Many of the businesses that have moved to the corridor ...


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Van Dyne also pointed to the hiring of Lisa Marrone, the town's new director of business development, and the marketing materials currently being developed by Schneider Associates Ten new businesses, representing the instrumentation, advanced manufacturing and bio-science fields, have leased nearly 150,000 square feet in the Route 129 corridor, and more are on the wayThis follows Digital Federal Credit Union's earlier purchase of the former Kronos headquarters on Billerica Road, further reducing the vacancy roll by 125,000 square feet In the fall, two major properties, comprised of more than 325,000 square feet, were sold through private auction: * 199-201 Riverneck Road: The former home of Mercury Systems, which relocated to Andover, was purchased by Brady Sullivan Properties of Manchester, N.H., under the name Chelmsford Properties LLC, for $5.2 million, according to records at the North Middlesex Registry of Deeds Belansky said the company seeks to convert the existing 200,000 square feet of office space into about 140 rental non-restricted apartmentsPlans have not yet been specified for an additional 5 acres the property includes, he said * 2, 4 and 6 Omni Way: The three-building campus was purchased by SVN Parsons of Framingham, under the name of Omni Investors LLC, for $8.5 million Belansky said the company plans to re-tenant the existing office buildingsThe owner will contribute $3.5 million for three new tenants into 2 Omni Way, one of which will be AutoGuide Automatic Guided Vehicles, which will relocate from Troy, Michigan, he saidThey have also committed an additional $1.8 million at 4 Omni Way to accommodate the relocation of LifeLinks Inc., a nonprofit organization that provides services for individuals with intellectual and developmental disabilities, from 285 Mill Road, Belansky said WNA, which already has a large plastics manufacturing operation on Stuart Road, will open an additional office space at 6 Mill Road, he saidThe other new tenants of the three buildings remain confidential for now Belansky said businesses are taking advantage of Chelmsford's favorable lease terms, strategic location at the crossroads of Route 3 and Interstate 495 and easy access to a large labor pool that extends throughout Massachusetts and southern New Hampshire Many of the businesses that have moved to the corridor in recent months didn't necessarily come because of the promise of coming amenities, he said However, those amenities, once in place, will be vital to keeping those companies and their employees in Chelmsford, he said "It's one less reason that a company would identify as a need to leave," Belansky said The first retail development under the overlay is now in the works. Proposed by the same developer working on the 168-unit multi-family development at 104 Turnpike Road, it seeks to transform a vacant 2-acre lot at 197 Billerica Road into a development covering up to 20,000 square feet with an anchor restaurant and other retail spaces, Belansky said The development of at least 440 rental units are all underway within a quarter-mile of Route 129, Belansky said, contributing to the "live, work, play" model the town aims to create in the corridor He said he hopes to work with Marrone to attract a hotel to the corridor, as well as indoor recreational opportunities such as a fitness center and indoor rock climbingBelansky said he's also aware of interest in bringing a brewery to the area The end of year has brought a lot of good news for Route 129 -- but there is still much work to be done Belansky said the corridor currently has between 500,000 and 600,000 square feet of vacant space, about a 10 percent vacancy rateFor similar office and industrial parks, a healthy vacancy rate is considered to be half of that, he said Van Dyne said the next major initiative will be to "unlock" 300 and 330 Billerica Road and bring "truly transformational" projects to these propertiesTogether they comprise about 210,000 square feet that has been vacant for more than a year, he said These properties are among five Belansky listed as problematic vacanciesHe said software company Cadence Design Systems is expected to leave its 100,000-square-foot space at 270 Billerica Road, and another nearly 200,000 square feet between 220 Mill Road and 150 Apollo Drive remain vacant Follow Alana Melanson at facebook.com/alana.lowellsun or on Twitter @alanamelanson Movement along the Route 129 corridor: *199-201 Riverneck Road: Brady Sullivan Properties of Manchester, N.H., seeks to create about 140 market-rate apartments * 2, 4 & 6 Omni Way: to be re-tenanted by new owner, SVN Parsons, of Framingham -- 2 Omni Way: AutoGuide Automatic Guided Vehicles will relocate from Troy, Michigan, to occupy 17,000 square feet; one confidential tenant with 158 employees will occupy 40,000 square feet; another confidential tenant, 24,000 square feet -- 4 Omni Way: LifeLinks Incwill relocate from 285 Mill Road to occupy 60,000 square feet; another 20,000-square-foot space is vacant -- 6 Omni Way: WNA, a plastics manufacturer on Stuart Road, will open offices on the second floorA confidential tenant will also occupy 20,000 square feet on the second floor * 197 Billerica Road: Up to 20,000 square feet of restaurant and retail development is proposed on the 2-acre vacant lotIt would be the first such development in the Route 129 corridor under the Business Amenities Overlay District * 297 Billerica Road: the former Kronos headquarters was purchased by Digital Federal Credit Union earlier this yearDCU plans to house up to 900 employees here and seeks to build a parking garage * 33 Elizabeth Drive: HITEC Sensor Developments Incwill relocate from Littleton to occupy 33,750 square feet * 11 Alpha Road: DECCO, a mechanical contractor, will open a new facility * 19 Alpha Road: Endeavor Robotics and VJ Electronix, an X-ray and rework solutions company, moved in earlier this year * 21 Alpha Road: Nova Engineering moved in earlier this year and will soon be joined by cab Technology Inc., which is relocating from Tyngsboro * 300 Apollo Drive: HCL Technologies will occupy 17,500 square feet; US Alliance Financial will occupy about 19,800 square feet.Print   Email   Font ResizeReturn to Top   function refreshArticleList(theForm) { theForm.submit(); }   type='text/javascript'%3E%3C/script%3E")); try{ var _recommender = new _rec({ apiKey: 'ad22a6af94c8134ca3b06946fc8c76d6', cssUrl: 'http://sandbox.newstogram.com/rmv2/css/recommender_styles-h.css', title: 'Recommended for You', limit: '6', width: '650', height: '275', truncate: '48', adside: 'left', section: '0000', source:'dailyme', filter:'2', rotation:'1', customer_params:'/?source=dailyme' } ); _recommender.renderPersonalized(); } catch(err) {}; Newstogram.init('ad22a6af94c8134ca3b06946fc8c76d6');Newstogram.pageView(); --> Welcome to your discussion forum: Sign in with a Disqus account or your social networking account for your comment to be posted immediately, provided it meets the guidelines(READ HOW.) 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