Mystic was swayed to stay in the building by a "very compelling" final offer from owner Combined Properties Inc., Steven Purpura with Richards Barry Joyce & Partners' Boston office tells GlobeSt.com. "They did an extensive search but the landlord has been good to them over the years and made a very compelling final proposal so they ended up deciding to stay." Purpura negotiated the transaction for the tenant along with colleague Brian McKenzie.
Details of the long-term lease were not disclosed but Purpura says rent in the building, which is about 80% occupied, averages in the low $20-per-sf gross range. The owner was self-represented by Greg Regazzini, leasing director.
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