R.W. Holmes Realty Duo Tabbed For 150,000-SF Assignmen
BILLERICA — The looming departure of Schneider Electric to a consolidated campus in North Andover is opening up a 150,000-sf opportunity at 85 Rangeway Rd., a resilient corporate center owned by K&L Realty. The firm, a long-term investor active throughout suburban Boston, is again turning to R.W. Holmes Realty in seeking to repopulate the property also known as the Forest Ridge Office Park.
The R.W. Holmes team of Charles “Chip” Detwiller and Jim Bartholomew is taking on the assignment that includes 75,000 sf being left behind by Schneider and a like amount available in the other buildings. The veteran brokers have assisted K&L multiple times over the years in restocking 85 Rangeway Rd. as companies filter through the well-located asset that is close to Route 3. “It’s good quality,” a competing broker says of the complex where that professional has previously worked with R.W. Holmes to relocate tenants into the property. Schneider inherited its occupancy via a merger with American Power Conversion, a group that at one point occupied 100,000 sf. The broker also credits K&L principal George Tonna for making the address a popular one among companies.
The pending vacancy might seem daunting on some levels, but the rival broker explains large blocks of space in the Route 3 corridor from Burlington to New Hampshire are scarce. The wider Route 3 has also made it easier for firms to escape more expensive product on Route 128, says the source.