Riverwood Commercial Properties Inc., sold 701 Riverwood Dr., a 14,600-sf warehouse building located in Pembroke, to ABC Moving & Storage. Thomas Farrelly, Denis Dancoes and Eric Jackson of Cushman & Wakefield represented Riverwood.
Farrelly tells GlobeSt.com that this market was hit "pretty hard" by the recent recession, which manifested itself in a softening of rates and an abundance of sublease space. But, he notes, he is "encouraged by the recent activity. We are starting to see signs of life."
In Bedford, at 43 Constitution Dr., GFI Bedford leased 9,289 sf to First Allmerica Life Insurance Company and 3,076 sf to Northeast Planning Associates Inc., Farrelly, Dancoes and Jackson represented the building owner in the transaction. The completion of these two leases brings the occupancy of this class A office property, which GFI acquired earlier this year for $3.9 million, to 85%.
John Giles leased 8,221 sf at 160 South River Rd. in Bedford to CTC Communications, bringing this office building to 90% occupancy. He was represented by Farrelly, Dancoes and Jackson. The firm also represented Boston Capital, which leased 3,018 sf to Lamination Technologies Inc. at 472 Amherst St. in Nashua.
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