Avison Young Negotiates 28,000 SF Reading Lease For Construction Industry SupplierAugust 02, 2022
BOSTON — Avison Young has negotiated a transaction that will enact a viable growth vision for Carpenter & Paterson, Inc. (C&P), a leading construction industry supplier. According to a release, the company has relocated from 225 Merrimac Street in Woburn and has taken 28,800 square feet of industrial space at 35 Concord Street in North Reading - to act as a logistics hub for wholesale distribution, storage, and sales.
Chris Reilly, Associate and Thomas Aitken, Senior Vice President with Avison Young’s Boston office represented the tenant, C&P. The landlord, Brookfield Properties, was represented by Ben Roopenian.
“For the last few years, C&P has experienced significant growth in their operations and with this relocation into new space, they’re positioned to leverage the new location to better serve their clients and attract and retain the talent that will sustain their success for the future,” said Reilly. “C&P serves much of northern New England, so it was critical for us to find a property with easy access to I-93 and I-95 and the location at 35 Concord Street landed them in the best possible location to help them better serve their clients,” Added Aitken.
The building is part of a four-building, 273,000 (sf) infill logistics park spread across 40 acres located in the Boston Metro north submarket. The industrial market north of Boston remains extremely popular with e-commerce and last-mile fulfillment tenants, pushing rental rates higher and broadening the geographical preferences of companies to locate a suitable property.
“The industrial market is white-hot right now and we were fortunate to have Avison Young in our corner. Our partnership with Chris and Thomas on this transaction was a seamless experience, and the combination of their local knowledge and negotiating strategies helped us take the smart, decisive action that led us to the space at 35 Concord at a rate that made sense to us,” said Lesley Culkin, Manager of C&P Northeast. “We’re thrilled with the possibilities that this new space will bring to C&P, which we anticipate moving into this fall. This move represents the support we’ll need as we relocate from outgrown space over the next few years.”