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News release


Target Opens and OSRAM Leases 124,000 SF at Ballardvale Office Park             

BOSTON, November 24, 2014 – There are exciting changes taking place at Ballardvale Office Park in Wilmington, MA. Target recently opened its newest 130,000-square-foot destination store immediately adjacent to Ballardvale Office Park. The news follows the completion of a 124,000-square-foot lease to OSRAM SYLVANIA at 200 Ballardvale Street to house its U.S. Headquarters. JLL Managing Director Matt Daniels, Senior Vice Presidents Christopher Lawrence and Brian Tisbert, and Vice President Christopher Decembrele negotiated the OSRAM office lease on behalf of owners AEW Capital Management and Griffith Properties. AEW owns the property on behalf of AEW Value Investors, L.P., a value-added real estate fund.

Also adjacent to the property is a 12,000-square-foot retail center that is nearing completion. The center will offer Ballardvale tenants numerous retail amenities as a complement to Target at the site

“We are delighted to welcome OSRAM SYLVANIA as our newest tenant within Ballardvale Office Park,” stated Marci Griffith Loeber, Managing Principal of Griffith Properties. “A tenant of this caliber is highly sought after in this marketplace, and we are glad that we are able to provide the first class image desired by OSRAM.”

Located at the interchange of Interstate 93 and Route 125, Ballardvale Office Park is a corporate campus that consists of four buildings totaling 550,000 square feet. Recent renovations include: new facades with dramatic glass lines, new lobbies, state-of-the-art HVAC systems, a full service cafeteria, free Wi-Fi, and a fitness center with lockers. Approximately 1,000 people will now be working in the expanded complex.

Building 2 at 200 Ballardvale Street is a four-story, 143,000-square-foot property. Improvements at 200 Ballardvale include a new roof and upgraded HVAC.. OSRAM joins Taxware, AGFA, Verizon Wireless, ITT Educational Centers and other companies that have offices here.

According to JLL's Lawrence: “We are delighted to accommodate OSRAM’s requirement. They chose Ballardvale Office Park because of our amenities package, direct access to I-93 to attract top talent, the Park’s recent renovation program, and quality ownership.”

OSRAM SYLVANIA is part of OSRAM Americas, a group of OSRAM companies located in North and South America. As a leader in lighting solutions and services, specializing in innovative design and energy saving technology, the company sells products for homes, businesses and vehicles under the brand names OSRAM,
Traxon, ENCELIUM and SYLVANIA. The company's portfolio covers the entire value chain of components, ranging from lamps, control units and optical semiconductors such as light-emitting diodes (LED) to luminaires, light management systems and lighting solutions. The OSRAM SYLVANIA and OSRAM Americas regional headquarters is located in Danvers, Massachusetts. For more information, visit or follow us on Facebook and Twitter.

About AEW Capital Management
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.   One of the world’s leading real estate investment advisors, AEW and its affiliates manage $50.5 billion of capital invested in approximately $49.0 billion of property and securities in North America, Europe and Asia (as of  September 30, 2014).   Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum.  AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Hong Kong and Singapore, as well as additional offices in eight European cities.  For more information please visit

About Griffith Properties
Griffith Properties, LLC is a real estate investment firm that employs extensive operating and investing experience to provide investors an attractive risk-adjusted return. Griffith invests in core plus and value-added office, industrial and R&D assets located in the Boston to Washington DC corridor. For more information, visit

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit