John Lashar and Jamey Lipscomb of Richards Barry Joyce & Partners represented property owner, Invesco Realty Advisors. Lashar, a partner at Richards Barry Joyce & Partners notes that the firm is seeing increasing demand for warehouse space throughout the market. Lease rates for warehouse space in the Greater Boston area is about $6 per sf.
The building is located near Route 495, the Massachusetts Turnpike and Routes 20 and 9. "The building at 203 Flanders Road is an excellent warehouse/office facility for UPS Logistics' needs," says David Bass, asset manager at Invesco Realty Advisors. "This transaction suited both parties well. UPS Logistics was able to remain at a facility that met their unique needs and Invesco was able to find a high-quality tenant for our property."
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