Mark Reardon and Richard Ruggiero of Cushman & Wakefieldbrokered the deal on behalf of the owner, and procured the tenantas well. The single-story building serves well as a multi-tenantedfacility, says Reardon, adding that easy access to Interstate 95played a role in Wakefield's commitment to the property.
The 9.5 million-sf market here has been among the area'sstrongest performing industrial sectors in recent years. Spaulding& Slye Colliers reports a local 2.3% vacancy rate and anaverage asking rent of $7.31 per sf. That compares favorably to theregion's overall industrial vacancy rate of 5.5% and an averageasking rent of $6.67 per sf. Terms of the deal were notdisclosed.
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