New England Organics signed a five-year lease for the building, which consists of refrigerated warehouse space and office space. The free-standing building is located at the corner of Spruce Street and Williams Street, less than a quarter mile from the New England Produce Center.
"The location is optimal given its close proximity to the New England Produce Center and superb access from all major roadways," notes Larry Silva, a co-owner of New England Organics. "The organic produce sector has seen enormous growth recently as supermarkets continue to expand their product lines to meet high customer demand for certified organic products." Lease rates for this deal were not available, but the average asking rent for industrial space in the Greater Boston area is about $6 per sf.
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