The exact terms and length of the leases was not disclosed, however Richards Barry Joyce & Partners--the exclusive leasing agent for the building--says it is a long-term lease and the original asking price for the building was $6.50 per square foot. FedEx will operate distribution and warehouse facilities from One Beeman for their FedEx SmartPost brand.
The 162,700-square-foot vacancy was made available when the former tenant Triumph Learning moved out. RBJ says that the space was not open for very long, although it is not known whether or not FedEx had expressed previous interest in the space or was simply taking advantage of an opportunity.
The property itself boasts easy access to the I-495 and 22- to 30-foot ceilings. John Lashar, partner, and Paul Leone, SVP, repped the owner, MM Industrial Beeman Road LLC, in the transaction. FedEx did not respond to inquiries from GlobeSt.com.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
