Hunneman Completes 33,000 SF Lease for AM Batteries
Boston, MA., July 26 2023 – Hunneman is pleased to announce a significant long-term lease agreement at 8 Federal Street in Billerica.
The 33,000 square foot lease was finalized, with the tenant, AM Batteries, Inc., represented by Hunneman's team of Executive Vice Presidents Jim Boudrot and Steve James, as well as Vice President Patrick Grady. JLL acted as the representative for the landlord, Rhino Capital Advisors LLC.
This lease marks a major milestone for AM Batteries, as the new location will serve as their expanded headquarters and research and development (R&D) operation. The 80,000 square foot Flex/R&D building at 8 Federal Street is strategically positioned within a 425,000 square foot Master Planned Technology Park, conveniently situated off Route 3. The area benefits from a robust labor force and a wealth of nearby amenities. Notably, Hunneman's client, Boston Materials, Inc., secured a long-term lease for approximately half of the building (33,643 square feet) last year.
According to Jim Boudrot from Hunneman, "8 Federal Street provides an ideal facility for AM Batteries to advance their groundbreaking work in green manufacturing technology."
“AM Batteries is very happy to work with Hunneman to secure the facility, which allows us to significantly expand the team and manufacturing space. We are very excited to move into the new facility where we are developing game changing technology for the battery industry,” said Yan Wang, Co-Founder and President, AM Batteries Inc.
AM Batteries develops revolutionary technology made to significantly reduce the amount of chemicals, energy and the overall carbon footprint of the electrode manufacturing process. Their mission is to completely eliminate solvent usage and recovery, as well as the entire drying process, which will greatly reduce capital equipment, energy consumption and the CO2 emissions in the battery industry.
“We are thrilled to add AM Batteries to our growing list of tenant partners in the Greater Boston market. The collaboration between the AM Batteries team, the brokers, and ownership has made this a great transaction where ultimately, we are able to provide an exciting tenant space they can thrive in for years to come,” said Mark McLean, Head of Asset Management, Rhino Capital Advisors LLC.
Rhino Capital Advisors LLC is a privately held, Boston-based owner-operator and developer servicing and advising its array of investors, including high net worth syndicates and institutional capital partners.
