Two Deals Lease Up 38,250-SF Building

EVERETT, MA-Two leases, totaling 21,000 sf of mixed-use space, have been signed for 114 Wyllis Ave. The deals mean that the 38,250-sf building is fully occupied. Lease rates for this deal were not available, but the average asking rent for similar space in the area is about $22 per sf.

Gemini Gymnastics leased 16,000 sf, while Axcess Mobile Self-Storage leased 5,000 sf of space. The remainder of the building is occupied by the building owner, Progressive Gourmet Inc.

Paul Delaney, vice president of Burgess Properties, represented Progressive Gourmet in both transactions as well as Gemini Gymnastics. Peter Brown of Peter Brown & Co. and Gregg Jordan of Gregg Jordan & Associates co-represented Axcess Mobile.”These two transactions bring this strategically located building to 100% occupancy,” says Phillip Burgess, president of Malden, MA-based Burgess Properties, which serves as the exclusive leasing agent for the building. The firm notes that the building, which is located near Route 16 just off Main Street, is also being marketed for sale for $2.4 million.