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EAST BRIDGEWATER, MA-World Publications will move into 252,070 sf of warehouse space at 140 Laurel St. here later this month under a 10-year lease agreement. The lease makes the specialty multi-media company the largest tenant in the two-building complex.
J.P. Plunkett, with Cushman & Wakefield's Boston office, tells GlobeSt.com that the new location represents "a significant expansion" for the Orlando-based firm, which previously occupied warehouse space in Dighton.
"The overall economic package presented to them by the landlord was a driving factor in the deal," Plunkett says of the property, which previously served as a warehouse for Shaw's supermarkets. "The landlord just rolled out the red carpet."
Terms of the lease were not disclosed but Plunkett says the company, publishers of numerous magazines, paid significantly less than the $4-per-sf to mid-$6-per-sf asking price for warehouse space in the Route 495 submarket.
The property, which is comprised of 468,996 sf of warehouse space with a 44,000-sf office component, is owned by LIT South Shore LLC and affiliates, Clarion ING; which were represented in the transaction by Bruce Levine, with CB Richard Ellis' Boston office.
Plunkett, along with Cathy Minnerly and Jason Bryer, handled the leasing arrangements for the tenant.
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