Newmark Arranges 86,954-SF Lease for Circuit Board Assembler at 12 Innovation Way in Londonderry, NH

July 24, 2025 9:00 AM

Newmark announces that the company has arranged a new 86,954-square-foot lease at 12 Innovation Way, a light industrial property in Londonderry, New Hampshire. The transaction welcomes circuit board assembly company, Intelligent Manufacturing Solutions (“IMS”). Executive Managing Directors Rich Ruggiero, Brian Pinch and Tyler McGrail represented the landlord, R.J. Kelly, in lease negotiations.

The new lease will allow IMS to double the size of its operations to keep up with rising demand. The company will relocate from its previous location at 645 Harvey Road.

“We’re proud to have helped secure a long-term solution that supports IMS’ growth trajectory and positions the company for continued success,” said Ruggiero. “By understanding the tenant’s evolving operational needs and aligning with the landlord’s objectives, our team was able to negotiate a lease that benefits both parties and strengthens the value of this high-quality asset.”

12 Innovation Way is a Class A office, manufacturing and light assembly property adjacent to Manchester-Boston Regional Airport, just off State Route 3 and within a 10-minute drive of Interstates 93 and 293. The 233,839-square-foot building was constructed in 2018. Following the IMS lease, the property has 50,000 square feet of remaining additional warehouse availability, along with the ability to expand by 70,000 square feet.

“We are excited to have IMS in the building and up and running. This premier building is perfectly suited to accommodate IMS’ growth in the circuit board manufacturing industry,” said Brandon Kelly, President of RJ Kelly.

The southern New Hampshire industrial market is constrained due to dropping availability, according to Newmark Research. Just 6.2% of industrial square footage in the market is available, compared to nearly 8% a year ago. Class A industrial space like 12 Innovation Way is in particularly high demand and has seen availability drop 10% since the first quarter of 2025.

About R.J. Kelly (“RJK”)
RJK is a vertically integrated commercial real estate investment, development, management, and construction company that utilizes our platform to maximize returns for investors and create value for our tenants. Since our founding in 1951, we have successfully developed over twenty million square feet of commercial space throughout New England. Our portfolio includes office, industrial, research and development, storage, and retail properties.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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