Cummings Leasing Manager John Wiseman says the company is pleased by the market's response to its five-story, brick-and-glass structure, which was launched last winter on a speculative basis. The $15-million, 177,000-sf building will be ready for occupancy by October.
As with Interliant, most of the firms headed to 12 Gill St. are expanding from existing Cummings buildings, with the diverse tenant roster including Hastings-Tapley Insurance, Infomedics and Value City Department Stores. Wiseman says he believes the solid reaction has been a mixture of tenant satisfaction with Cummings, a location near Route 128 and the lack of space in suburbs north of Boston. He adds that the region has seen a significant jump in new age technology companies coming into the Woburn market.
"What's changed in some respects are the dynamics of location," Wiseman says. "It's no longer [finding space] that's convenient for the business clientele; what's important today is making sure you are in a location that can attract and keep employees."
Cummings Operations Director Ernie Agresti says he believes the migration outward is also a residual of skyrocketing rental rates in Boston, noting that, "we've seen a surge in interest not only in the new Gill Street property, but in other Woburn buildings as well."
He and Erica Maramma represented Cummings in the lease, while Kathy Doyle of Thompson Doyle Hennessey & Everest acted on behalf of Interliant. Based in Woburn, Cummings is a full-service real estate company that performed all architectural, construction and leasing functions for 12 Gill St. The company currently owns and operates more than 70 buildings in Eastern Massachusetts.
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