BY JOE CLEMENTS

NORTH READING — A growing Massachusetts company active in the material handling industry is said to be on the verge of a hefty expansion here north of Boston, with sources claiming Kiva Systems Inc. of Woburn is preparing to sign a lease at RiverPark for a mix of industrial and office space exceeding more than 100,000 sf, and perhaps reaching as much as 200,000 sf.

“They are really close, if they aren’t already done” on a signed deal, reports one CRE professional tracking the progress at the seven-building commercial complex located off Interstate 93. A broker active in the region seconds that notion, claiming Kiva Systems is focused on taking just under 150,000 sf at 300 RiverPark Dr., one of two properties owned jointly by DivcoWest and Taurus Investment Holdings. The 18-year-old building encompasses 206,000 sf, and one version of the talks has Kiva ultimately taking over the entire facility through expansion options.

Calls to officials at Boston-based Taurus to discuss the matter were not returned by press deadline, as was a missive to Jones Lang LaSalle’s suburban brokerage team. That real estate services group is said to be negotiating on behalf of Kiva Systems, which is presently headquartered at 225 Wildwood Ave. in Woburn. Efforts to reach company officials were also unsuccessful, but market watchers insist discussions on a deal at RiverPark are nearing a conclusion.

Owned by RREEF since June 2005, the 65,000-sf Wildwood Avenue facility was purchased in March by local investor Robert W. Murray for $3.6 million, as previously detailed by The Real Reporter. At the time, observers said Kiva was out looking for a new home largely because 225 Wildwood Ave. did not have enough room to accommodate the firm’s expansion. “It’s coming to a conclusion,” one source says of the space search.

If consummated, the transaction would be welcomed news for the landlords of 300 RiverPark Dr., which DivcoWest and Taurus bought for $27.5 million in September 2008 along with 400 RiverPark Dr., that being a four-story office property. Collectively, the two buildings total 385,000 sf, and had been acquired from Teradyne Inc. in a partial sale/leaseback arrangement. “It’s excellent,” one broker says of the chances for a lease commitment, noting it would plug a substantial vacancy looming over the region, plus represents substantial growth from the estimated 30,000 sf Kiva Systems is estimatedto be in at 225 Wildwood Ave.