Both deals were brokered by John Lashar, Rich Herlihy and Paul Leone of Richards Barry Joyce and Partners, and RBJ has been named the exclusive leasing agent for the properties. RBJ also represents a number of Invesco industrial properties in Westborough and Canton. RBJ declined to be interviewed for this article, as did Gutierrez. Invesco did not return phone calls before deadline.
"We feel that this is a solid investment for Invesco and consistent with our investment strategy in the northeast," Brad Takala, acquisitions officer at Invesco, said in a statement at the time of the Franklin purchase. "The fact that the building is fully leased and located in a class A master-planned park attracted us to the asset. Additionally, we are seeing increasing demand for industrial and distribution facilities in this region, which will also benefit us in the long term."
While the statement was made in reference to the Franklin purchase, it could also be partially applied to 55 Lyman St. The 135 Constitution Dr. building is fully leased to medical and surgical supply distributor Owens & Minor, and half of the 55 Lyman St. property was leased to the healthcare services distributor McKesson late last spring. The other half of the property has drawn significant interest and is currently being shown to potential tenants, but "there is no definite tenant" yet, according to a source.
Views from brokers on the industrial/warehouse market for the area vary. While one broker characterized the market as "a little spotty." Scott Hughes, president of Hughes Properties, tells GlobeSt.com "the activity has been good for the last three months for industrial users in the 50,000- to 100,000-sf range, and a little more down south, we're seeing a lot of activity in the 15,000- to 30,000-sf range."
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