Juliette Reiter, associate, of GVA Thompson Doyle Hennessey & Stevens, represented RADI Medicals Systems in the transaction, while property owner, Wakefield Investments, was represented by Trammell Crow Co.
The single-story, 151,800-sf building is situated in a campus setting off of Rte. 93. Lease rates for this deal were not available, but according to industry experts, this type of flex space is renting in the single digits on a triple net basis in this area. Office space in the area goes for about $19 per sf. The availability rates for industrial space in the area are at about 13%, according to Spaulding & Slye Colliers' most recent statistics, as compared with the availability rate for office space in the area, which is at nearly 26%.
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