"The lease has been signed," one source tells GlobeSt.com, which initially reported of GSI's interest in the property in an Aug. 30 article. The deal is one of the largest in the Route 3 corridor this year, a notable feat given that nearly one million sf of new absorption has already been recorded in that suburban Boston submarket through three quarters. That activity does not count the GSI transaction, which will likely appear in fourth quarter results.

Despite insistence from sources that GSI and Mohawk have inked the pact, no official announcement has been made, and parties involved in the negotiations did not respond to inquiries by press deadline. The lease was brokered by Richard Ruggiero and Torin Taylor of Cushman & Wakefield, but Ruggiero declined to discuss the status when contacted by GlobeSt.com. Mohawk principal Steve Rice did not return a phone call.

According to sources, GSI will consolidate several offices to its new address, including the company headquarters in nearby Billerica and another facility in Wilmington on Fordham Road. The latter operation is across the street from the new home of Blue Raven Technology, formerly Pre-Owned Electronics, which previously had been headquartered at 125 Middlesex Turnpike. Blue Raven itself just did a 100,000-sf expansion and renewal at 110 Fordham Rd., also reported by GlobeSt.com in a Nov. 1 article.

Terms of the GSI lease were not divulged, but sources claim it is a 10-year deal and includes a market-rate allowance for tenant improvements. Space in the Bedford market has been leasing between $10 and $20 per sf depending on the quality of the product.