Moulding & Millwork, a division of Sauder Industries, signed a five-year lease to take the entire freestanding building in the six-building industrial park, owned by Rreef, says Matt Giffune, with Jones Lang LaSalle's Boston office.
"They liked the fact that it is centrally located for their New England distribution operation," Giffune tells GlobeSt.com, adding that Rreef agreed to add a loading door and ramp for the tenant as part of the deal.
Terms of the lease were not disclosed but Giffune says similar warehouse space leases for between $6 and $8 per sf triple net.
The 425 Whitney St. warehouse and distribution center will be the first in New England for Moulding & Millwork, which has nine manufacturing facilities and 31 sales and warehouse operations throughout the US and Canada.
Giffune, along with William Bailey and Phil DeSimone, also with Jones Lang LaSalle, handled the transaction for the landlord. Brad Spencer, with Grubb & Ellis' Boston office represented the tenant.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
