A Newmark agency leasing team has represented building ownership in the leasing of 34,000 square feet at 250 Revolutionary Way, a 139,079-square-foot, Class A, single-story warehouse/distribution facility located in Taunton. The building is approximately 40 miles southwest of Boston, just off Route 24 at the intersection of Route 140.
The new tenant is Safelite AutoGlass®, the nation’s leading provider of auto glass repair and replacement service. According to Newmark Principal Austin Smith, “Safelite wanted to increase its presence in Massachusetts and was looking for a first class building that offered flexibility and efficiency for its glass storage and installation needs. 250 Revolutionary Drive is an excellent building that can accommodate Safelite’s operations and allow for the greater market presence that they are looking for.”
Smith, along with Director Jason Bryer, represented the landlord, real estate investment manager AEW Capital Management, L.P. (www.aew.com) in the transaction. Founded in 1981, AEW provides real estate investment management services to investors worldwide. Currently, AEW and its affiliates manage over $48 billion of real estate assets and securities (as of September 30, 2008) on behalf of many of the world’s leading institutional and private investors.
“There is approximately 44,000 square feet of warehouse space currently available,” Smith notes, “which lays out well for tenants in the 20,000- to 44,000-square-foot range.”
The tenant was represented by Senior Vice President & Partner Bob Gibson, Vice President Mike Wall, First Vice President Ed Jarosz, and Associate Jeff Hamilton of CB Richard Ellis - New England.
250 Revolutionary Drive is located in the Liberty & Union Industrial Park. The Taunton property was built in 2007 and sits on 20.37 acres and features 30’ ceiling height, ESFR sprinkler system, terrific loading, 42’ x 56’ column spacing, and easy highway access.
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank Newmark operate from over 195 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $47.6 billion with annual revenues of over $962 million. With a combined staff of more than 6,900, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.