Cushman & Wakefield senior director J.P. Plunkett and director Raymond Janney represented property owner CCC Realty Trust in the transaction. Plunkett and Janney also procured the tenant.
The building consists of approximately 2,500 sf of office space with warehouse features such as 21-foot clear height, six tailboard docks and one drive-in door.
The Route 128 South warehouse/distribution market's overall vacancy rates stand at 13%, up slightly from April 2002's figure of 12.4%. But this market is still faring better that the area's office market which, as of the first quarter of this year according to Cushman & Wakefield's statistics, had an overall availability rate of 22%. This is up slightly from 20.4% the year before.
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