Seven companies have leased a total of more than 130,000 square feet at 299-301 Ballardvale on the Wilmington/Andover line.

The property, which consists of a three-building office/R&D complex, is a joint venture managed by Essex River Ventures Inc., a Boston-based real estate investment firm.

In Building 300, GSA inked a new 10-year-lease for 5,500 square feet and Pixtronix leased 14,230 for five years. RockStar New England renewed a 20,400-square-foot lease and Immedia Semiconductor leased 7,700 square feet.

In addition, in Buildings 299 and 301, a number of leases were renewed including, Automated Engineering for 8,000 square feet, Proto-Pac Engineering for 15,800 square feet, GE HealthCare for 23,000 square feet and Advanced Electron Beams (AEB) for 45,000 square feet.

"Broad-based leasing activity has emerged to evidence that business confidence is growing across many sectors. For instance, the tenant commitments have come from diverse industries including government agencies, high-tech manufacturing, video gaming and health care," said John Fenton, president & CEO of Essex River Ventures. "Essex River plans to capitalize on the new momentum by improving the property to further increase leasing activity."

"Things began to turn around about six months ago when we retained NAI Hunneman to represent the landlord and the property. We stayed close to our tenants and but we also worked with the commercial brokerage network, particularly brokers with tenant requirements. Good relations with Colliers Meredith & Grew, T-3 Associates and Cresa Partners have yielded some big results," said Fenton.

"Essex River and NAI Hunneman have been successful in leveraging a capital improvements program to secure new leases," said Jim Boudrot of NAI Hunneman Commercial. "Despite a tough market, we stabilized the asset. Now the owner can focus on improving value and attracting new tenants."