Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PEABODY, MA-PCG Trading LLC, d/b/a Converge Inc., is remaining at 4 Technology Dr. The company has renewed its existing 72,500 sf lease in the combined office/ warehouse building which is located in Centennial Park just off Route 128.

The facility is used as the corporate headquarters for Converge, an independent distributor for electronic components, computer products and networking equipment. The firm was represented by Glenn Rhuda of Mohr Partners. John Pereira, president of Combined Properties, was the in-house representative for the property owner.

“We engaged in extensive market research on behalf of Converge, touring a number of sites and analyzing very attractive offers in the market,” says Rhuda. “There were a number of opportunities for them to consider in this tenant-favored market, but we achieved the optimal scenario with the existing landlord resulting in a win-win for everyone involved.”

Lease rates for this deal were not available, but the average asking rent for warehouse space in the area is about $6 per sf. The area’s vacancy rate for the industrial market is about 12%, according to Spaulding & Slye Collier’s most recent statistics.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.