CB Richard Ellis/New England has arranged a new 216,780 s/f lease with PetEdge on behalf of ING Clarion Partners, the U.S. arm of ING Real Estate Investment Management, at Billerica Commerce Center. PetEdge, a leading wholesaler and marketer of pet supply products, will occupy approximately 35% of the building, a 612,685 s/f warehouse and distribution center located at 90 Salem Rd. The long-term lease, which was signed at the end of the fourth quarter 2009, marks the largest single-story new lease signed in eastern Massachusetts during the past year.
The CBRE suburban team of David Corkery, first vice president, and Mark Reardon, executive vice president/partner, negotiated the lease on behalf of ING Clarion Partners. Greg Klemmer, principal, and Tim Brodigan, vice president, of Winchester-based Klemmer Associates represented PetEdge.
ING Clarion Partners purchased the Billerica Commerce Center in 1998. The property, which is managed by Equity Industrial, will serve as the primary distribution center for PetEdge, which operates a second distribution center in Reno, Nevada. With the long-term lease, Billerica Commerce Center is presently 85% occupied with approximately 106,000 available s/f remaining.
"Billerica Commerce Center is well located with immediate access to Rte. 3 and I-495. We believe the building, with its excellent distribution amenities, will suit the needs of PetEdge very well," said CBRE's Corkery.
Billerica Commerce Center is a first class warehouse and distribution center located in the heart of the Rte. 3 North submarket. The property features clear heights of 30' to 38', large column spacing, 97 tailboard loading docks and a 62-acre site to accommodate significant trailer and vehicle parking. Recent improvements made to the single-story facility include new tenant entrances, driveways and parking areas, an upgraded façade and new overhead dock doors. The property is located approximately 30 minutes northwest of Boston just three miles from the junction of Rte. 3 and I-495.