James Boudrot, with NAI Hunneman Commercial of Boston, tells GlobeSt.com that Lady Grace Stores selected the 5 Commonwealth Ave. property because it offered a strategic distribution point that gave the firm central access to its existing retail outlets. The facility, which was leased for a 10-year term, will serve also serve as a fulfillment center for the firm's catalogue and internet businesses and will contain a retail store.
Terms of the lease were not disclosed, but Boudrot says warehouse space in the area generally rents for around $8 per sf triple net. The lease arrangement was handled for the tenant by Paul R. Delaney of Burgess Properties. Boudrot and Ted Shannon, also with NAI Hunneman Commercial, represented owner CHK Realty.
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