Securing longer term leases for our existing facilities and adding additional expansion space were key components of our business plan going forward.
Burlington, MA (PRWEB) April 25, 2014
LeMaitre Vascular recently extended their lease at 53 & 63 Second Avenue, Northwest Park, Burlington, MA. The lease extension agreement provides LeMaitre with an additional term of up to ten years for both properties. LeMaitre has occupied the single level office/flex buildings since 2003. In addition to being their corporate headquarters, the facilities also house the research, development and manufacturing processes for their medical device products.
In addition to the lease extension, LeMaitre also signed a lease for an additional 15,500 sq, ft. located in an adjacent building at 41 Second Ave. The lease for the expansion space will commence in July of 2015, and the lease term will be co-terminous with the other two buildings. With the addition of the expansion space, LeMaitre will occupy a total of 70,000 sq. ft. in Northwest Park. Mark A. Stevens, SIOR, Principal of The Stevens Group / ITRA Global, provided advisory services and negotiated the terms of the lease extension and expansion on behalf of LeMaitre.
The Stevens Group has provided real estate advisory services to LeMaitre since 1995. In addition to the Burlington location, The Stevens Group has also assisted LeMaitre in acquiring facilities in Toronto and Melbourne. According to George LeMaitre, Chairman and CEO of LeMaitre Vascular, “Securing longer term leases for our existing facilities and adding additional expansion space were key components of our business plan going forward. The Stevens Group, as a trusted strategic partner, guided us through the process and negotiated on our behalf to produce the best possible results. Their in-depth knowledge of the real estate market and vast experience has been invaluable to us as we expand.”
About LeMaitre Vascular
LeMaitre Vascular, a publically held company (LMAT), is a global provider of medical devices and implants for the treatment of peripheral vascular disease. They develop, manufacture, and market disposable and implantable vascular devices for use in both open vascular surgery and minimally invasive endovascular procedures. Their product lines consist of well-known brand name products used in arteries and veins outside of the heart, and are supported by a growing, specialized and highly trained organization of vascular sales professionals.
About The Stevens Group and ITRA Global
The Stevens Group is a commercial real estate advisory firm located in Boston, MA, specializing in exclusively representing corporate clients in the leasing, acquisition and disposition of commercial real estate. The Stevens Group is the Boston affiliate of ITRA Global, an organization of real estate professionals specializing in representing tenants and buyers in the leasing, acquisition and disposition of office, industrial and retail facilities. With coverage in major markets around the world, ITRA Global is one of the largest organizations dedicated to representing tenants and occupiers of commercial real estate.
For more information about The Stevens Group and ITRA Global, please contact Mark Stevens at 1.617.886.9300 or email mstevens(at)thestevensgrp.com.