FRANKLIN, MA-In the wake of an uneven 2007, a full-building lease to Foster-Miller Inc. is helping boost the Interstate 495 South industrial market. The manufacturing firm is taking more than 65,000 sf at 15 Forge Park, a single-story building owned by Colony Realty Partners.

“It’s a nice kick start to the year,” says Cushman & Wakefield senior director Cathy Minnerly, whose firm negotiated the deal on behalf of the landlord.Foster-Miller is restocking 15 Forge Park for the next five years following the simultaneous departure of National Grid. Although financial terms were not disclosed, one source places the rental rate above market levels, said to be more than $7 per sf.

The fast-track Foster-Miller requirement materialized late in the fourth quarter, Minnerly explains, after the firm won a contract. The tenant needed to be able to occupy the space by the start of the year, a goal complicated by a substantial power upgrade mandated by the contract. “Everyone worked really hard and contributed to get this done,” relays Minnerly, who credits Colony Realty, property manager Allyson Massengill of CB Richard Ellis and the leasing agents for accomplishing the feat. Other members of the C&W team included executive director Kevin Hanna, senior directors J.P. Plunkett and J.R. McDonald and Associate Jason Bryer. CB Richard Ellis principal James Nicoletti was broker for Foster-Miller.

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