Micah Stubblebine and James Stubblebine of the Stubblebine Co. represented the property owner, Concord Financial Co. in the transaction and procured the tenant.
Lease rates for this deal were not available, but the average asking rent for industrial space in the Route 495/North market is about $6 per sf. The industrial market remains relatively stable with an overall availability rate of about 14%, according to Spaulding & Slye Colliers' most recent statistics. The availability rate for the office market for the area is at 33%.
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.
