J. P. Plunkett represented iStar Financial, the facility owner, in the transaction. Robert Conrad, of the Conrad Group, represented the tenant.
The 73,000-sf building was developed in 1985 by Keller/Davis and is located directly off Route Three near Routes 228 and 53. There is currently 45,000-sf of space available in the building.
According to Plunkett, this lease is a "huge transaction" for the area. "It's a great, great deal for that community," Plunkett tells GlobeSt.com. Norwell is located about 15 miles south of Boston at the end of the Route 128 area. Plunkett notes that the office market in this area is getting much better and this deal is indicative of the improvement. When Guardian, which was leasing this space prior to Collecto, moved out, Collecto took the space immediately, Plunkett says. "That's a good sign," he adds.
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