The building is owned by Berlyn Co. James Glickman, principal of Glickman Real Estate represented the owner and procured the tenant.
According to Lincoln Property Co.'s most recent statistics, the suburban industrial market's overall availability rate is at 14.5%, falling just .2% since the first quarter. But the market experienced its first quarter of positive absorption in a long time--88,284 sf--indicating that that the market is starting to recover. Lease rates for this deal were not available, but the average-asking rent for industrial space in the suburban market is at $6 per sf.
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