Lease rates for this deal were not available, but the average asking rent for space in the area is about $22 per sf. The deal is a big one in a market that continues to experience vacancy rates at nearly 20%, according to Cushman & Wakefield's most recent statistics.

Allied Domecq notes that it spent the past six months looking at office space within a five-mile radius of its current corporate offices in order to minimize the impact on employees' commutes. The building at 130 Royall is located near Route 128 and adjacent to Reebok International's corporate headquarters. The interior build-out of the new construction building will be completed over the next year and Allied Domecq plans to occupy the 175,000-sf building in October 2004. Approximately 600 employees will work at the three-story building.

Allied Domecq CEO Jon L. Luther says that the company anticipates that bringing most of its employees under one roof will "increase its existing momentum and stimulate its creativity and efficiency."

Victor Del Vecchio, chairman of Canton's board of selectmen, emphasizes that the deal demonstrates that the city has "a vibrant commercial district with headquarters for marquis companies like Reebok. We're excited to add Dunkin' Donuts, Baskin-Robbins and Togo's to that list."

Cushman and Wakefield represented property owner Conroy Development Corp. in the transaction while New York-based real estate company, Newmark, represented the tenant. The architecture firm Spagnolo Gisness & Associates will be completing the build-out.