Hunneman Real Estate brokered an 11,248 square-foot, 12-year lease of CKM Real Estate’s 250 Apollo in Chelmsford, MA to Triton Systems, an advanced materials, coatings and systems engineering product development firm that has been a defense contractor for more than 30 years.  To facilitate the move, 250 Apollo will undergo significant infrastructure upgrades to reflect the tenant’s unique needs.

“Securing this lease is a testament to CKM Real Estate’s creativity in navigating an extremely competitive market,” said Chris Curley, EVP at Hunneman. “The flexibility of 250 Apollo to adapt and accommodate a wide range of user types, including research and development space, flex uses and GMP through a fully permitted 50,000-rentable-square-foot expansion of the building serves as a key differentiator for tenants seeking dynamic spaces.”

Curley and Hunneman’s Ken Oppenheim and Mike Allen represented ownership. The two-floor, 143,215 square-foot 250 Apollo was constructed in 1986 and most recently renovated in 2020.

Newmark arranged the $14.5-million sale of 2 Executive Dr., an R&D/office/lab building located in Chelmsford, MA. Co-head of U.S. capital markets Robert Griffin and Newmark’s Boston Capital Markets team of Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Joseph Alvarado and Casey Valente represented the seller, Foxfield, and procured the buyer, Rhino Capital.

The Boston Debt & Structured Financing team of David Douvadjian, Sr., Timothy O’Donnell, David Douvadjian, Jr. and Conor Reenstierna secured acquisition financing for the buyer from Bank Newport. Senior financial analysts Bobby Alvarado and Harrison Zucco and Financial Analyst Grady Zink provided financial analysis support.

The building comprises 113,880 square feet, fully triple-net leased to two tenants: industrial giant Rockwell Automation and semiconductor manufacturer Qorvo. “The ownership benefits from the building’s credit-rated tenancy, substantial interior fit-out improvements, as well as its strong positioning among a high-performing cluster,” said Hallowell. “This is underscored by the single-digit vacancy rate and double-digit rental rate growth over the past five years.”