Industrial/Lab Market Alive and Well

South Boston is seeing some deal action with a block of warehouse expansions brokered by Cushman & Wakefield. Asmara, Inc. is renewing 19,863 square feet of showroom/warehouse--at 88 Black Falcon Ave.--from AMB Property Corp. in Randolph; Independent Flooring is expanding into 17,000 square feet at 38 Teed Dr., working out a deal with Atlantic Management; and Sonepar Electric is renewing 16,088 square feet from Zine Family Trust at 50 Von Hillern St.

Meanwhile, Ashland Textile is grabbing 10,600 square feet at 53 Teed Dr. from Atlantic Management. Urban Equities is leasing 13,000 square feet at 40 Robbie Rd. in Avon to Urban Express and 21,600 square feet to Tractel, Inc. at 51 Morgan Dr. in Norwood. Both owners were represented by C&W's senior directors J.P. Plunkett and Cathy Minnerly, as were the South Boston warehouse deals. According to Cushman & Wakefield, asking price for office on "a gross net of electric basis average" is $21.72 per square foot in the 128 South submarket, $19.65 per square foot for the 495 South submarket and $6.71 triple net for the South industrial.

In the life sciences arena, Kowa Company, Ltd.--a Japanese trading company--is leasing the entire 17th floor of the Center for Life Science Boston. BioMed Realty Trust, Inc.'s center is 700,000 square feet of office and laboratory space in the Longwood Medial Area. Totalling 24,400 square feet, the lease brings the Center for Life Science Boston to roughly 91% leased.