JRT Realty Negotiates Lease Agreements Totaling 61,000 SF in Boston's Suburban Market
Leasing Activity Remains Steady in This Region's Office Market
FRANKLIN, MASS., Nov. 25, 2008 - Jodi Pulice, founder and president of JRT Realty Group, Inc., today announced the signing of two new leases in the Boston Suburban submarket. JRT Realty represented the landlord, TIAA-CREF. JRT and its alliance partner, Cushman & Wakefield, serve as exclusive leasing agent of the properties - 109 Constitution Blvd in Franklin, Mass., and 101 Edgewater Drive in Wakefield, Mass.
Central National-Gottesman, Inc., has signed a light industrial lease for 48,000 square feet at 109 Constitution Blvd.Built in 2000, the one-story industrial site features 30-foot clear ceiling heights, rear-load capabilities and immediate access to I-495 via the King Street Interchange. Located south of Boston in Norfolk County, the19-plus acre property is well-maintained and professionally landscaped.
"This modern high-profile warehouse/distribution facility is ideal for a company with a strong international presence like Central National-Gottesman, Inc. because of its location in Franklin Industrial Park," noted Pulice. In addition to Pulice, the leasing team includes JRT's Greg Smith, executive vice president, and Cushman & Wakefield's J. R. McDonald; Kevin Hanna; Stephen Woelfel; and John Driscoll from the Boston office.
Founded in 1886, Central National-Gottesman, Inc. is the world's preeminent privately owned marketer of pulp and paper. The Central National-Gottesman Division specializes in the global sale of pulp, paper, paperboard and newsprint. In addition to the Franklin warehouse, the company maintains offices in 26 U.S. cities, warehouses in 14 U.S. locations and international offices in 17 countries. Worldwide sales exceed $3 billion annually and represent 4 million tons of product.
In the suburban Boston office sector, leasing activity remains steady as evidenced by a 13,000-square-foot renewal signed by Arbella Mutual Insurance Company. The JRT/Cushman & Wakefield team handled the transaction on behalf of TIAA-CREF, owner of 101 Edgewater Dr., in Wakefield, Mass.
The Class-A office building is part of the seven-building Edgewater Office Park, which includes the three buildings owned by TIAA-CREF, located at 101, 201 and 500 Edgewater Dr. in Wakefield, Mass. The complex is situated immediately off of Interstate 95, Exit 42, on the North Shore of Boston in Middlesex County. Numerous amenities, including jogging trails, professionally landscaped grounds and covered parking, are available on-site.
"Our properties at Edgewater Office Park and 109 Constitution Blvd. exemplify TIAA-CREF's commitment to establishing and maintaining premier office centers that meet the sophisticated needs of diverse industries and have the potential to create value for our clients," said Kevin Smith, Director, Real Estate Asset Management, TIAA-CREF Global Real Estate.
In addition to Pulice and Smith, the team included C&W's Torin Taylor, Richard Ruggiero, Matthew Adams and Rory Walsh.
"Both of these leases demonstrate that Boston's suburban office and industrial markets remain in demand among an array of end-users in various industries," noted Smith. "Despite being designed for very different uses, the Constitution Boulevard and Edgewater Park properties allow tenants to maximize their efficiency and operating systems."
