Colliers Arranges 88,000 SF Industrial Headquarters Lease at 23 Esquire Road in Billerica, MA

BILLERICA, MA — Colliers has arranged an 88,000-square-foot industrial real estate lease at 23 Esquire Road in Billerica, Massachusetts, the firm announced June 5, 2026. The transaction places Frontrunner Bus Group, Inc. as the new headquarters tenant at the 136,421-square-foot manufacturing and research-and-development facility, with the company relocating its operations to the property.

The landlord, a joint venture between Marcus Partners and Rhino Capital Advisors, was represented by a Colliers team led by Vice President Dan Driscoll, Executive Vice President Greg Klemmer, Executive Vice President Tim Brodigan, Senior Advisor Anne Coe, and Advisor Will Torrence. Frontrunner Bus Group was represented by Newmark.

Deal Details: Advanced Manufacturing and R&D Facility

Frontrunner Bus Group will occupy the majority of the 136,421-square-foot facility, which includes approximately 20,000 square feet of office space, 5,000 square feet of clean space, heavy power infrastructure, and full building air conditioning. The property offers access to Route 3 and other major highways throughout Greater Boston.

Approximately 39,000 square feet remains available for lease following the transaction. That remaining block features fully air-conditioned space with dedicated 5,000-amp service power capacity.

"We're excited to welcome Frontrunner Bus Group to 23 Esquire Road as they establish their new headquarters in Billerica," said Michael Ferrucci, Senior Vice President at Marcus Partners. "The property's infrastructure, power capacity and flexible layout made it a strong fit for their manufacturing and operational needs, and we look forward to delivering the planned improvements that will further enhance the facility."

Capital Improvements Planned Following Lease Execution

Ownership plans to complete a series of capital improvements at the property following the lease, including a full office renovation, HVAC replacement, and parking lot improvements. Marcus Partners and Rhino Capital Advisors had previously repositioned the building as a manufacturing and R&D facility, according to Colliers.

Colliers and the North Suburban Boston Industrial Market

Colliers described the 23 Esquire Road transaction as further evidence of the firm's continued activity in the North Suburban Boston industrial real estate market, where the team has advised landlords and occupiers across a range of leasing assignments. The deal adds to the leasing momentum Marcus Partners and Rhino Capital Advisors have pursued at the Billerica facility.

About the Parties

Colliers is a diversified professional services and investment management company active across commercial real estate advisory, leasing, and capital markets. Marcus Partners and Rhino Capital Advisors are the co-owners of 23 Esquire Road. Frontrunner Bus Group, Inc. is the incoming headquarters tenant. Newmark represented Frontrunner Bus Group in the transaction.