"Brewster Wallcovering is a long-term, valued tenant in the AMBCampanelli Industrial Park and we welcome Jacobson Floral Supply asa new tenant expanding from Boston," relays Peter Brown, directorof leasing for the Campanelli Cos. exclusive agent for park ownerAMB. Brown negotiated terms of Brewster's extension at 60Campanelli Dr. and the deal for all 40,000 sf at 90 Campanelli Dr.by Jacobson. President Bill Jacobson praises the landlord andleasing agent, stating the team "went out of their way to finalizea lease structure that accommodated our growth." Touted as thelargest non-perishable floral supplier in New England, Jacobson isa third-generation family firm based in Boston's Flower District,but now will have distribution centers in Braintree and Cromwell,CT.

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Developed by Braintree-based Campanelli, the park is locatedjust off Granite Street near Routes 3 and 128. Tenants includeBurlington Coat Factory, Coca-Cola, Mr. Tux and Stop & Shopsupermarkets. The park was among 21 Campanelli properties AMB paid$87 million for a decade ago, with the seller retained to lease andmanage the assets. Founded in 1947, Campanelli remains a leadingbuilder, manager and owner of commercial real estate in NewEngland, and has developed 16-million-sf along the EasternSeaboard.

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The two latest leases offer hope that mid-year results will bebetter for Route 128 South than the opening frame, with Cushman& Wakefield reporting negative net absorption of 48,000 sf inthe submarket of 25-million-sf during Q1. The overall suburbanindustrial market struggled, posting negative net absorption of255,000 sf to bring vacancy up to 11.5%. That is still better thanthe rate of 14.0% recorded in Q1 2007, although Route 128 South hasseen a deterioration from last year, rising from 8.2% to 9.4%.Lease terms for the AMB deals were not released, but C&W putsthe average industrial lease at $8.16 per sf for the submarket,more than one dollar per sf higher than the suburban average askingrate of $7.07.

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