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NORTHBOROUGH, MA-In one of the largest industrial leases of 2007, a specialty division of Federal Express has renewed for more than 180,000-sf at One Beeman Rd. The 343,000-sf distribution facility is owned by MM Industrial Beeman Road LLC, an entity managed by TA Realty Associates of Boston.

Broker Paul Leone says the five-year agreement underscores "a very good business relationship" between MM and FedEx, which operates a SmartPost division from the facility. SmartPost matriculates business-to-consumer packages that are low weight and less time sensitive than other mail. The idea includes use of the United States Postal Service for final delivery.

"One Beeman Rd. is an excellent match for FedEx SmartPost," says Leone. A VP at Richards Barry Joyce & Partners, Leone teamed with RBJ principal John Lashar as exclusive leasing agents to negotiate terms on behalf of the landlord. Kirk Bittel of Fischer & Co. brokered the deal for FedEx.