The 625,000-sf building, which is located on Medford Street, is currently 92% leased with about 81,000 sf available.
The deal is an important one for this city in the northern section of the inner suburbs which is still contending with vacancy rates of about 19.4% according to Grubb & Ellis's most recent statistics. The area had a positive absorption of just 2,108 sf this past year as compared with the southern section of the inner suburbs, which experienced positive absorption of 233,999 sf this year.
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