FedEx Signs Renewal for 180,000 SF

(Read more on the industrial market.)

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.