John Hennessey, with GVA Thompson Doyle Hennessey & Stevens' Boston office, tells GlobeSt.com that the firm searched the market but opted to remain in the single-tenant building, which it fully occupies, because the company was satisfied with the lease terms and the location.
"They're a great credit tenant and any building owner is going to want them, especially for a 10-year lease term," he says. Terms of the lease were not disclosed but Hennessey says similar space in the Lynnfield area rents in the high single figures.
The company was represented in the transaction by Hennessey. The landlord, Newburyport Turnpike Associates, was self-represented.
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