Combined Renews Converge for 72,000 SF at 4 Technology Drive

PEABODY — Combined Properties has announced that loyal tenant Converge has signed on for another stint at 4 Technology Dr. a first-class flex/office building in Centennial Park. Sporting locations worldwide, the Arrow Electronics subsidiary has operated its global headquarters in Peabody since 2000. Greg Regazzini, director of leasing, negotiated for the landlord, while CBRE/New England principal David Connolly advised Converge, a top global supply chain partner for technology companies and a distributor of electronic components.

“Thirteen years ago, Converge selected 4 Technology Dr. to serve as its corporate headquarters because of the property’s outstanding features and location, highway access and surrounding amenities,” says Combined Properties President John Pereira in a press release detailing the commitment, terms of which were not provided. Converge specializes in computer and peripherals, consumer electronics, home energy and telecommunications

The building, Pereira says, “is both functional and beautiful and we’re pleased that it continues to serve Converge’s property needs after over a decade.” Combined Properties has seen both renewals and new business pick up in Centennial Park during the past year, adds Pereira, whose Malden-based firm has processed 2.6 million sf of commercial inventory in a variety of product types. “A wide array of cuttingedge companies is showing interest in this area,” agrees Regazzini, director of leasing. Research from Lincoln Property Co. puts the submarket of 19.4 million sf on the plus side by an impressive 468,150 sf in the past 12 months.

Regazzini credits the “outstanding location” and Combined’s upkeep of its holdings as reasons for the Centennial Park traffic in a submarket that was slowed in the recession. “We expect this increase in activity to be a trend that continues,” Regazzini says.