The facility is one of three buildings on an industrial cul-de-sac and its space is divided to provide 15,000 sf of office space for Verizon's engineers. The rest of the building is utilized as a "Verizon vehicle storage and repair facility." The combination of industrial and office space is one of the key factors for Verizon's choice.

"The benefits--we think--are that this is a uniquely designed facility that enables them to have a central location for the people that service that marketplace and it is very easy to get in and out of there," Pete Brown, director of Leasing for Campanelli Cos., tells GlobeSt.com. "It's a very central location, a very convenient location for them to operate from." The property is easily accessible to the Mass Pike in the popular Waltham/Watertown submarket, only a few minutes outside Boston proper and adjacent to both Cambridge and Allston/Brighton. The area is a hotbed for renewals in this market, mainly for its accessibility to Boston.

"AMB's lease renewal with Verizon demonstrates the continued demand for well located facilities in a supply constrained market," comments Steve Kimball, SVP and director of operations for AMB's east region, in a statement. Brown is the exclusive leasing agent for AMB's Watertown property. Verizon is represented in the deal by David Wright, EVP andpartner, and Amy Perlman, VP, both from CB Richard Ellis.