NY Life Keeps Boston-Area Warehouse Fully Occupied

By Evelyn Jozsa

14 Aegean Drive, Methuen, Mass.

New York Life Real Estate Investors has renewed two leases with Crown Holdings and Hologic, for a total of 122,578 square feet, at 14 Aegean Drive, in Methuen, Mass. Transwestern Consulting Group represented the lessor, while CBRE worked on behalf of Crown Holdings. Hologic was self-represented in the deal.

Constructed in 2001, the 234,000-square-foot, high-bay warehouse building features 30-foot clear heights and early suppression, fast response sprinklers. The building is fully occupied by four tenants.

Crown Holdings, a supplier of packaging products to consumer marketing companies, renewed its lease for 85,000 square feet, while Hologic, a healthcare and diagnostic company, renewed its lease for 37,578 square feet.

“One of the few modern, high-bay warehouse buildings in the region, 14 Aegean Drive completely satisfies modern shipping and distribution requirements,” said James Lipscomb of Transwestern Consulting Group, in prepared remarks. “New York Life displayed terrific foresight in purchasing this asset several years ago in what’s become a space-constrained industrial market along Interstate 495 North.”  

Transwestern has also recently brokered a 10,000-square-foot lease in Boston’s south end on behalf of Legacy Real Estate Ventures LLC.

Image courtesy of Transwestern Consulting Group