Benjamin Heller of Spaulding & Slye Colliers represented Shooshanian, while Cushman & Wakefield senior director JP Plunkett and associate director James Brady represented property owner AMB Property Corp. The building is located in South Boston's Seaport District and is 94% leased. The facility includes both office space and warehouse/distribution space.
According to Grubb & Ellis's most recent statistics, the industrial market in the Central area, which includes Boston, has a vacancy rate of just under 9%. But the report indicates that the area experienced negative absorption of 72,000 sf through the second quarter of the year. The average asking rent for industrial space in the Central market is nearly $8 per sf.
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