WOBURN, MA-A financial services group that needed highway access to the main postal facility in Downtown Boston has opened its first mail processing center in 10,059 sf of flex space here. The PNC Financial Services Group Inc. signed a 10-year lease at 20 Commerce Way.
"This was a mail-processing facility for them so direct access from Routes 93 and 128 was a key factor in their decision-making process, John Hennessey, a principal with GVA Thompson Doyle Hennessey & Stevens, tells GlobeSt.com. Hennessey represented the tenant, while Jason Levendusky of CB Richard Ellis' Boston office represented the owner, Caleast Industrial Investors.
Terms of the lease were not disclosed but Hennessey says the property generally rents in the single digits per sf. The single-story flex building is 80% occupied with tenants that include Schenker Inc., Xenon and Pro Source.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.