Cushman & Wakefield Arranges 140,000-Square-Foot Lease Renewal with Atrium Medical Corp

HUDSON, N.H. - Nov. 5, 2014 - PRLog -- Atrium Medical Corp. has utilized the 140,000-square-foot flex building at 5 Wentworth Drive as its U.S. headquarters, research and production facility for 17 years, and has agreed to a lease renewal arranged by Cushman & Wakefield. 5 Wentworth LLC, an institutional owner, was represented by the Manchester, N.H.-based Cushman & Wakefield team of Thomas Farrelly, Denis Dancoes and Sue Ann Johnson.

“We have a very good relationship with Atrium’s real estate executives and helped facilitate the tenant portion of the transaction,” said Johnson.

The renewal is a prelude to a corporate move for Atrium, a manufacturer and global distributor of sterile medical products. “We sold 40 Continental Blvd. in Merrimack, New Hampshire to Atrium,” said Johnson. “The 40 Continental site was optimal because it had a two-story, 114,000-square-foot office building that had recently been updated by Fidelity, and had approvals in place to construct a 90,000-square-foot addition.  Once

Atrium’s new manufacturing and lab building is complete, Atrium will relocate its operations there.”

“Our company has grown tremendously over the last few years and is projected to continue expanding in the years to come,” said Atrium President Trevor Carlton. “Therefore, it is necessary for us to relocate our headquarters to a facility that will meet the needs of our employees and customers in the future.”

With that impending move, 5 Wentworth Drive is currently being marketed for sale, with Cushman & Wakefield handling the offering on behalf of the owner. Originally constructed in 1988 as a 77,000-square-foot office and manufacturing facility, it was expanded with construction of a 63,000-square-foot warehouse component in 2000. Its building systems were further upgraded in 2008.

The facility is situated on 14.4 acres overlooking the Merrimack River at Exit 2 of Route 3 (Daniel Webster Highway), fewer than four miles from the Massachusetts border. The class A building offers 20-foot clear heights, conference rooms, a fitness center and a cafeteria. It is located within the Sagamore Industrial Park, which is a designated Economic Revitalization Zone.

“The Sagamore Industrial Park market has been stagnant for years,” said Johnson. “However, one building that was on the market for five years was sold last fall. There have been six building sales in the park this year alone and that, coupled with this lease renewal, indicates that the park is turning around. 5 Wentworth Drive has been meticulously well-kept by Atrium, and we anticipate a great deal of interest in this for-sale offering.”

Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In the U.S. alone in 2013, this group completed nearly 6,700 industrial real estate transactions (excluding Capital Markets transactions) totaling 238.74 million square feet. The aggregate value of these transactions was greater than $7.34 billion.