The term of the lease renewal is seven years, says Jason West,senior director with Cushman & Wakefield's Midwest industrialservices group. West and Sean Henrick, associate director,represented the tenant in the transaction.
The company has had its corporate headquarters and a regionaldistribution center in the building for 10 years, West says. "Wejust restructured the lease and downsized them to 90,000 sf," hesays. Approximately 26,000 sf of the space is office space, Westsays. SunSource had previously leased the entire 150,000 sfbuilding, which is owned by Boston-based Cabot Properties, he says.Cabot Properties plans to renovate the building and lease theremaining approximate 60,000 sf, West says.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
