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An energy storage company has relocated to Woburn from Wakefield.
Nanoramic Laboratories leased 40K SF at Cummings Properties' 10 Commerce Way in Woburn, the Boston Business Journal reported. This is the company's second move in the past three years.
The battery manufacturer is taking space that was formerly held by another battery manufacturer, Ionic Materials, which shut down in June.
The Steele Group's Steele Divitto and Cushman & Wakefield's David Thomann brokered the deal.
Nanoramic has already started to operate in Woburn, the BBJ reported. In 2022, the company moved from the Seaport District to a 24K SF facility at 7 Audubon Road in Wakefield. It received a state tax break for its Woburn move.
Nanoramic spun out from MIT in 2009 and won $47.5M from the U.S. Department of Energy funds to operate a facility in Bridgeport, Connecticut, in December 2023, CT Insider reported.
The Route 128 North submarket, which includes Woburn, had an 18.4% office vacancy rate in the third quarter, according to CBRE. The submarket saw negative 272K SF of absorption through the first three quarters.
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