The facility is used as the corporate headquarters for Converge, an independent distributor for electronic components, computer products and networking equipment. The firm was represented by Glenn Rhuda of Mohr Partners. John Pereira, president of Combined Properties, was the in-house representative for the property owner.

"We engaged in extensive market research on behalf of Converge, touring a number of sites and analyzing very attractive offers in the market," says Rhuda. "There were a number of opportunities for them to consider in this tenant-favored market, but we achieved the optimal scenario with the existing landlord resulting in a win-win for everyone involved."

Lease rates for this deal were not available, but the average asking rent for warehouse space in the area is about $6 per sf. The area's vacancy rate for the industrial market is about 12%, according to Spaulding & Slye Collier's most recent statistics.