Mark Stevens, principal of GVA Thompson Doyle Hennessey & Stevens, represented the property owner as exclusive agent in the transaction while Ted Bell negotiated on behalf of Sealed Air.

The building, located at the intersection of Routes 129 and 93, is in the process of undergoing a complete renovation and upgrade, including a new exterior, HVAC systems, roof, parking lot and landscaping. Sealed Air will be utilizing the space for the warehouse and distribution of its packaging products to their customers in the Northeast. The company is a global supplier of protective and specialty packaging products for industrial, food and consumer products.

While the office market in this area has been struggling with high vacancies-according to Meredith & Grew's most recent figures, the Route 495 North area has a vacancy rate of 27.7%-the industrial market has been faring better, with tenant demand continuing for warehouse and distribution space with easy access to the city.