The Los Angeles-based Max Group considered several options before selecting the site but was won over by building owner Cummings Properties' flexible terms, Tyler Ewing, with Grubb & Ellis' Boston office tells GlobeSt.com. Also playing factors were its location near Routes 93 and 95 and the owner's ability to meet a tight construction deadline.
Terms of that lease agreement were not disclosed but office space in the Route 128 submarket generally runs in the low to mid $20-per-sf range, according to a first quarter market report by Richards Barry Joyce & Partners. Terms of the sale of Max Group's building in Wakefield were also not disclosed.
Ewing handled the lease negotiation for the tenant along with Brad Spencer, also with Grubb & Ellis. Rob Yacobian, Cummings Properties' leasing director, handled the transaction for the owner.
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