Elior North America leases 56,413 SF at 39 Olympia Avenue
The recently modified 78,413 SF office and warehouse building is perfectly positioned within the Route 128 belt, and is the ideal location for industrial, distribution and/or R&D users
BOSTON, November 14, 2019 – JLL and a partnership between Oliver Street Capital and North Colony Asset Management, a Boston based real estate investment management firm, announced today that Elior North America signed a 12-year, 56,413 square foot lease at 39 Olympia Avenue in Woburn, Massachusetts. The recently modified 78,413 SF office and warehouse building is perfectly positioned within the Route 128 belt, and is the ideal location for industrial, distribution and/or R&D users.
JLL Managing Director’s Christopher Decembrele, Matt Daniels and Senior Vice President Michael Ciummei represented ownership in the transaction bringing the building to 80% leased.
Elior North America, one of the top contract foodservice companies in the United States, relocated and expanded to 39 Olympia due to the property’s centralized location, convenient access and efficient layout that meets Elior’s current and future manufacturing operations.
“We are delighted Elior North America has decided to be part of 39 Olympia Avenue,” said Jon O’Donnell at Oliver Street Capital. “They recognize the value of the building’s proximity to Boston and access to major highways. We hope the move helps Elior’s business continue to thrive.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Oliver Street Capital
Oliver Street Capital is a value based real estate investment manager focused on acquiring and managing high quality industrial real estate investments. With 30 years of commercial real estate experience, the firm has represented over $1.8 billion in total transactions. For more information visit: https://www.oliverst.com/.
About North Colony Asset Management
North Colony Asset Management is a privately held real estate investment firm headquartered in Boston, MA. With over 50 years of combined experience in commercial real estate, the team at North Colony has been involved in the acquisition and management of more than $2 Billion in assets throughout the U.S. with a primary concentration in the Greater New England Area. For more information please visit: https://www.northcolony.com