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News release

BOSTON, MA

JLL Represents Borrego Solar in Lowell Expansion


BOSTON, 18 March, 2015 – JLL today announces that it represented Borrego Solar Systems Inc., a leading designer, developer, installer and financier of grid-tied solar photovoltaic systems, in relocating its Eastern U.S. headquarters to approximately 12,723 square feet of first class office space at 55 Technology Drive in Lowell, Mass. This expands their footprint by nearly 20 percent. JLL Senior Vice President Brian Tisbert, Executive Vice President Chris Lawrence and Associate Mike Ciummei assisted Borrego Solar in its relocation to the asset owned by Novaya Ventures. 

“Borrego Solar is growing to meet increased demand for solar from customers nationwide,” said Brendan Neagle, COO of Borrego Solar. “We’ve had an office in the Lowell area since 2007 and finding a new space nearby that could accommodate our immediate and future growth projections was important in our ability to continue serving the market. We’re happy to be starting a new chapter at 55 Technology Drive.”

Located in the Drum Hill section of Lowell, 55 Technology Drive is a two-story 90,000 square foot office building in close proximity to numerous amenities. Borrego Solar will join Boston Scientific and Lowell 5 Savings as tenants in the park.

"We believe that an innovative company like Borrego Solar is complementary to the tenant base at 55 Technology and is a welcome addition to our portfolio,” said Peter Carbone, principal at Novaya. “It was a pleasure to work with their team to design a modern and collaborative environment, which we feel will serve their immediate and long term space needs well.”

“We’re excited for Borrego Solar to launch their new office headquarters,” said Brian Tisbert. “55 Technology Drive provides Borrego with an opportunity to expand and gives them a modern space design that supports its culture and future growth.”

About Borrego Solar Systems, Inc.                
Established in 1980, Borrego Solar Systems, Inc. is one of the nation’s leading financiers, designers, developers and installers of commercial and utility solar power systems. Borrego Solar’s photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,000 solar power installations completed—totaling over 150 MW—Borrego Solar offers a complete line of solar system design and installation services throughout North America. Borrego Solar was recently ranked as the #2 commercial EPC in the United States and the #2 commercial contractor in California by Solar Power World. For more information, visit www.borregosolar.com.

About Novaya
Novaya Real Estate Ventures is a real estate investment platform established in 2012 by its principals, James Alden, Scott Tully, Peter Carbone and Jeff Theobald.  Since inception, Novaya has acquired 1.6 million square feet of office, industrial and retail property in the Greater Boston area at a total valuation of $280 million.   Since acquiring 55 Technology Drive in 2012, Novaya’s strategy has been to improve the overall quality of the building through investment in substantial system and cosmetic upgrades as well as an improved amenity package for the tenants.   Novaya prides itself on creating modern, flexible, work environments so as to attract and retain quality companies such as Borrego Solar.   For more information, visit www.novayaventures.com

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 $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 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 www.jll.com.