Debra Lee Stevens, principal of GVA Thompson Doyle Hennessey & Stevens, represented property owner Davidson Management in the transaction, while Publishers represented itself.
The deal is indicative of the current industrial market in the Greater Boston area, which Stevens tells GlobeSt.com is thriving. "It's as hot as the dotcom market was in 1999." Stevens attributes the solid market to the current lack of industrial space. "They were converting all this industrial space to telecom space," she points out.
This building is part of a three-building development owned by Davidson Management. The company recently closed its manufacturing operations--they made door frames--and have put all the space on the market. The other buildings available include 50 Lowell St., which has 25,000-sf of space, and 30 Park, which is also 25,000 sf. Stevens says that there has been a lot of interest in the space.
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