Absolute Machinery, which sells plastics and metal-processing machinery, was founded three years ago and currently has executive offices and a showroom at 1200 Millbury St. The company needed the additional space for a plastics and metal working showroom and warehouse.
James Glickman and Peter Kovago, principals of locally based Glickman Real Estate, represented Oxford Realty Trust in the leasing. About 30,000 sf remains to be leased in the building. Bancroft School of Massage Therapy is the other tenant in this location.
According to Meredith & Grew's most recent statistics, the availability rate in the commercial real estate market in Worcester is at 25%. The area experienced a negative absorption last year--including sublease space--of 220,742 sf.
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