"This property gives C&C North America an ideal warehouse space in a location with great distribution routes to all areas of New England," relays Bradford Spencer. A senior vice president at Grubb & Ellis, Spencer negotiated the five-year lease for the landlord, 41 Lyman LLC, along with G&E SVP Hank Amabile and Advisor John Coakley. C&C North America was represented by O'Brien Commercial Properties brokers Joel Aho and Dylan Connolly.

Constructed in 2001, 41 Lyman St. features clear heights to 35 feet, two dozen loading bay doors and an ESFR sprinkler system. Past tenants in the building have included the likes of APX Logistics, Ken's Foods and Wal-Mart, notes Spencer, while Northborough itself has become a haven for distribution operations due to its presence in the Interstate 495 West submarket. Unlike other parts of Greater Boston, I-495 West had a solid opening quarter, according to G&E figures, which tracked 295,000 sf of net positive absorption in Q1 to drop the vacancy rate there to 13.1%.

Despite the strong numbers, Coakley tells GlobeSt.com that the industrial market has lagged behind activity in the office sector. "It has been sort of quiet," he relays, with only a few prospects sporting the heft of C&C North America. Coakley anticipates business will ultimately pick up in the submarket, praising Northborough in particular for its access to Interstate 290, as well as the Massachusetts Turnpike. As for 41 Lyman St., Coakley says there is 10,000 to 20,000 sf that will be available until year three of the lease, at which point C&C will expand to take the entire building.