Boston– Colliers International Boston’s Southwest team has leased over 70% of spec warehouse in Northborough, MA.
Collers has been involved in leasing efforts and witnessed first-hand the competitiveness of the tight high bay industrial market in Greater Boston. Just months following the ground-breaking of 301 Bartlett Street, a 220,000-square-foot, 32-foot clear warehouse building in Northborough, the team has already represented Maintenance Supply Headquarters in leasing 98,483 SF as well as represented ownership in a subsequent lease to Metrie for another 58,123 SF.
With only 60,000 SF remaining in the recently completed speculative project, 301 Bartlett has certainly met – and maybe even exceeded – market expectations, proving the viability of such product in an incredibly undersupplied industrial market.
According to Colliers International Vice President Kevin Brawley, “Maintenance Supply Headquarters was uber focused on Massachusetts for its first New England location but any option sub 32-foot clear did not make the cut. 301 Bartlett made all the sense in the world for them – new market, new building, right fit.”
301 Bartlett Street offers direct highway access to all of greater Boston and beyond, boasting immediate connections to I-495, the Massachusetts Turnpike (I-90), I-290, Route 20 and Route 9. For local tenant, Metrie, who was outgrowing its space at 425 Whitney Street in Northborough, remaining in the existing neighborhood was important, as well clear height and quantity of loading docks and drive-in doors.
“301 Bartlett really fit the bill for Metrie,” noted Colliers Senior Vice President Stephen Woelfel, Jr. “It accommodates their need for 13,000 SF of expansion over their current footprint, all in brand new, never before occupied space.”
In addition to Brawley and Woelfel, Vice President PJ Foster, Senior Vice President Caleb Hudak, and Executive Vice Presidents Greg Klemmer and Cathy Minnerly all played integral roles in the 301 Bartlett leases.