The 88,379 sf single-story flex building is located near Routes 1 and 128. With this deal, it is fully leased and its corporate neighbors include The Boston Globe, NStar and Romanow Container.
Property owner Maric, Inc., a Boston-based investor/developer, was represented by Cushman & Wakefield senior director J.P. Plunkett. NAI Hunneman Commercial Company executive vice president Peter Benke handled negotiations for Intercept. Plunkett tells GlobeSt.com that the lease involves 60% office space and 40% industrial space.
This deal is a further indication of the relative strength of the local flex market. While overall availability rates for office space have soared into the 20% and even 30% range in some areas, the availability rates for industrial space in most areas have remained in the 15% range, with some of that available space being space that was not modernized and would probably be available in most markets.
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