Renewals Keep Occupancy at 90% in Stoneham's Newest Office Asset

STONEHAM, MA-Two lease renewals have kept occupancy at 90% in Stoneham’s newest office building, a 37,000-sf, four-story property that sits near the center of this North Shore community.

Coverall, N.A, which franchises cleaning services, and GreenmanPedersen, Inc.,, a consulting engineering firm, signed on to remain in the 105 Central St. building, taking a collective 11,700 sf. They have been tenants in the office asset since 2000.

Christopher Curley, vice president of GVA Thompson DoyleHennessey & Stevens, tells GlobeSt.com that Greenman Peterson alsoexpanded its space from 3,600 sf to 6,700 sf under the seven-year lease, moving from the third to the fourth floor in the building. Coverall, which was renting 5,000 sf, will remain in its same space under a three-year lease agreement with landlord KLKM, LLC, of Stoneham. Terms of the lease renewals were not disclosed, but Curley says the freestanding building, which numbers among its tenants Met Life, Kemper Insurance and Amkor Technologies, generally rents in the highteens.

Curley represented the landlord while Jeff Jacobson, with Coast Capital of Boston, and Valerie Pontiff, with CB Richard Ellis’ Boston office, handled the transaction for Coverall. Gary McCourt, with Summit Real Estate, of Boston, handled the negotiationsfor Greenman Peterson.