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WESTBOROUGH, MA-UPS Logistics signed a lease for 33,840 sf at 203 Flanders Rd. The company will use the location for office and warehouse space. UPS Logistics signed a new lease for the space after having been a sub-tenant of the previous tenant in the building.

John Lashar and Jamey Lipscomb of Richards Barry Joyce & Partners represented property owner, Invesco Realty Advisors. Lashar, a partner at Richards Barry Joyce & Partners notes that the firm is seeing increasing demand for warehouse space throughout the market. Lease rates for warehouse space in the Greater Boston area is about $6 per sf.

The building is located near Route 495, the Massachusetts Turnpike and Routes 20 and 9. “The building at 203 Flanders Road is an excellent warehouse/office facility for UPS Logistics’ needs,” says David Bass, asset manager at Invesco Realty Advisors. “This transaction suited both parties well. UPS Logistics was able to remain at a facility that met their unique needs and Invesco was able to find a high-quality tenant for our property.”

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