Phillip Burgess, president of Malden-based Burgess Properties, represented the property owner, 219 Medford Realty Trust, an affiliate of Palmer Manufacturing in the transaction while Debra Lee Stevens, CCIM of GVA Thompson Doyle Hennessey & Stevens, represented the tenant.
The single-story building was formerly occupied by pharmaceutical distribution firm AmeriSource. Burgess notes that Forced Exposure took the site because of its size and location. "It was very important to Forced Exposure to retain its existing employees," says Burgess.
The industrial market has fared much better than the office market in the recent downturn in the economy. While the office market in the area has a vacancy rate of 16.5%, according to Spaulding & Slye Colliers' most recent statistics, the industrial market's vacancy rate is a mere 7.6%.
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