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Traveler's Ends Space Odyssey With 40,000-SF Lease

BRAINTREE, MA-Developer Campanelli Cos. quickly fills a big piece of 160,000 sf available at Granite Woods Corporate Center.

By Joe Clements | Updated on March 29, 2007

BRAINTREE, MA-One of the top turnaround stories in suburban Boston’s office market this year has completed another chapter, with Traveler’s Indemnity Insurance Co. committing to nearly 40,000 sf at the Granite Woods Corporate Center. Located just off Route 128, the two-building property at 350 Granite St. was purchased last August by the Campanelli Cos. and is being recast as a multi-tenanted office complex.

“We’re delighted,” Campanelli leasing director Peter Brown tells GlobeSt.com. “That’s a real coup for the property.” Previously located at Crown Colony Office Park in Quincy, Traveler’s had been one of the highest quality prospects circulating in the south suburban submarket this year. The firm reportedly considered a variety of options prior to inking the agreement, a deal that will have them taking the entire second floor of building one.

Among the state’s most active developers for both office and industrial real estate, Braintree-based Campanelli acquired 350 Granite St. last August for $18.6 million from owner/occupant Verizon Corp., then struck a leaseback agreement with the seller for 40,000 sf.

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