PEABODY, MA- Combined Properties announced that Converge has renewed its lease at 4 Technology Drive, a first-class office/R&D building in Centennial Park, Peabody, MA.
As part of its extension of lease, Converge added several thousand square feet and will now occupy 76,771 square feet. With locations all over the world, Converge has operated its corporate headquarters at this Peabody location since 2000.
Converge, a subsidiary of Arrow Electronics, is a premier global supply chain partner for technology-driven companies and an independent distributor of electronic components. It specializes in industries including computer and peripherals, consumer electronics, home energy, industrial automation, and telecommunications.
“Nineteen years ago, Converge selected 4 Technology Drive to serve as its corporate headquarters because of the property’s outstanding features, location, and surrounding amenities,” said John Pereira, President of Combined Properties. “Four Technology Drive is both functional and beautiful and we’re pleased that it continues to serve Converge’s property needs.”
In addition to recent renewals, Combined Properties has seen an increase in new tenant activity in Centennial Park, Peabody in the past year.
“A wide array of cutting edge companies are showing interest in Centennial Park,” said Greg Regazzini, SVP/Director of Leasing. “Companies recognize that this is an outstanding location and that our properties are attractive and well maintained. Likewise, with the city of Peabody changing the zoning in Centennial Park to include retail uses we have witnessed a significant influx of retail sales and services come into the park. We expect this increase in activity to be a trend that continues,” said Regazzini. Technology Drive is only 20 minutes from downtown Boston, Logan International Airport, and has direct highway access.
Regazzini represented Combined Properties in this transaction. George Nugent of Newmark Knight Frank represented the tenant.