The property, which was built in 1970, is located near the intersection of Routes 12 and 190 and offers 16 foot clear space. New England Wire, which is based in nearby Fitchburg, plans to use the property as an overflow warehouse. David Stubblebine, James Stubblebine and Alan Ringuette of the Stubblebine Co. represented both New England Wire and Constar in the transaction.
The Route 495/North's industrial market continues to outperform the office market with an availability rate of 13.8% according to Spaulding & Slye Colliers' most recent statistics. The Route 495/North's office market had a 33.1% availability rate.
Lease rates for this deal were not available, but the average asking rent for similar space in the area, according to Spaulding & Slye Colliers' most recent statistics, is about $6 per sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
