Boston real estate brokerage Richards Barry Joyce Partners has been selected to be the new leasing agent for commercial space at the planned SouthField Corporate Center.
The firm is the third brokerage since 2006 to be assigned the marketing duties for the 1.7-million square feet of commercial development permitted at SouthField, the former South Weymouth Naval Air Station. The brokerage was picked by LNR Property LLC, the 1,400-acre site’s master developer.
LNR hopes Richards Barry Joyce’s local contacts and experience in the Greater Boston office and industrial markets will lure companies from within the region looking for a virgin site with potential for expansion.
“Their expertise in both the downtown market, Cambridge and the suburban market is what we needed to attract the size and quality of tenant that we are looking for,” said Paul Hickey, director of development at LNR.
RBJ will be in charge of negotiating leases and the sale of land pads for build-to-suit projects. With office vacancies south of Boston topping 26 percent, no speculative building is planned, Hickey said. Developers would seek a tenant willing to lease at least half of a building before breaking ground.
“We’re going to need a major user for 50,000 or 100,000 square feet,” Hickey said.
Biotech lab space and manufacturing may be a more promising short-term strategy. The property is one of the few undeveloped parcels in Greater Boston with space for ground-up projects with room for expansion, Hickey said.
SouthField’s proximity to the South Weymouth commuter rail station and the construction of a $43-million parkway connecting to Route 3 could be draws for tenants.
LNR also touts fast-track permitting as a lure to developers with time-sensitive projects. South Shore Tri-Town Development Corp., the property’s governing body, has put in place a 90-day review process.
Two other real estate brokerages have tried to attract commercial tenants at SouthField in the last six years.
In 2006, the Boston office of Cushman Wakefield was selected to market an early phase of commercial development calling for 150,000 square feet of office space. Boston real estate brokerage DTZ FHO Partners, now known as Cassidy Turley FHO, became the site’s commercial broker in 2008.
The residential portion of the redevelopment has been quicker to take off. Two home builders are building dozens of townhouses and single-family homes and the first residents will move into a 226-unit apartment complex in June built by John M. Corcoran Co. of Braintree. The site is permitted for a total of 2,800 housing units.