NORTON, MA-In one of largest deals along Route 495 South so far this year, Bodek & Rhodes signed on for space in a warehouse and distribution facility that previously stored cars. The 132,500-sf lease marks the activewear wholesaler's entry into the New England market.
Cathy Minnerly, senior director with Cushman & Wakefield, tells GlobeSt.com that the Philadelphia-based firm has signed an eight-year lease on warehouse, distribution and office space at 176 South Washington St. The deal leaves approximately 83,000 sf in the 215,000-sf property available.
"It's a large transaction with new blood in the area," says Minnerly. The company, which sells imprintable activewear, will move into the facility in November.
The building, which was constructed for Mazda in 1986, has been vacant since January when the car maker moved its operation to South Carolina. Bodek & Rhodes, which has distribution warehouses in Pennsylvania, Florida, Michigan and California, selected the 176 South Washington St. site here because of its high visibility from Route 495 and its corporate atmosphere, Minnerly notes.
Although terms of lease were not disclosed, Minnerly says space in the building generally rents for around $5.30 per sf triple net. Minnerly and JP Plunkett, also a senior director with Cushman & Wakefield, represented the building's owner, Nordic Properties and Commonfund, while Brad Spencer of Grubb & Ellis represented the tenant.
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