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Principal Financial Inks 70,000-SF Deal

AYER, MA-Interstate 495 North is becoming a popular destination for distribution and warehouse tenants, with several deals already signed in 2008.

By Joe Clements | Updated on April 23, 2008

AYER, MA-Breathing welcomed life into suburban Boston’s industrial market, Cains Foods LP is extending its lease at 3 Nemco Way in the Interstate 495 North region. The 70,000-sf commitment will keep Cains Foods at the property for another five years.

David Stubblebine of the Stubblebine Co. represented both parties in the lease negotiations. The single-story building is a first class, institutional grade facility, according to the broker; and is owned by Principal Financial Group, one of the nation’s leading commercial real estate investors with $44.8 billion of assets under management. According to Stubblebine, 3 Nemco Way is “ideally suited” for distribution and warehouse uses, offering such features as 20 loading docks, 10,000 sf of mezzanine office space and “excellent highway access” to both I-495 and Route 2.

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