According to Transwestern|RBJ, they represented TIAA-CREF in a lease renewal with EMC Corp. for the entire 192,000 s/f building at 109 Constitution Blvd. Transwestern|RBJ partners John Lashar and Paul Leone, along with leasing associate Danielle DeMarco, represented the building ownership, TIAA-CREF, which also owns the adjacent 111 Constitution Blvd.
"The warehouse market has fared very well the past few years and most of the activity has been driven by newer, high-bay buildings such as 109 and 111 Constitution Blvd.," said Lashar. "The central location of Franklin Industrial Park is also a major factor in the buildings' success in the market. We are pleased to retain an excellent tenant like EMC."
Constructed in 2000, 109 and 111 Constitution Blvd. consist of 192,000 s/f each and are both fully occupied. The first-class, high-bay warehouse buildings feature state-of-the-art design and construction and offer 30-foot clear heights, ESFR sprinkler systems and excellent loading capabilities. The buildings were named by the EPA as 2011 Energy Star Sustained Excellence award winners. Franklin Industrial Park is located just minutes from I-495 at exit 16, 25 miles southwest of Boston.
EMC was represented in the transaction by Jack Burns and David Ross of Cresa Boston.
TIAA-CREF is a national financial services organization with $613 billion in total assets under management (as of 6/30/2014) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has
34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.