Lawson Products Takes 86,313 SF at Triangle Plaza
November 18, 2011
By: Natalie Dolce

Lawson Products, an industrial distributor of maintenance, repair and operations supplies, has signed a long-term, 86,313-square-foot lease at 8770 Bryn Mawr Ave. in Triangle Plaza for its new corporate headquarters. The three-party transaction—a 17,061-square-foot direct lease from building owner CommonWealth REIT and a 69,252-square-foot sublease from Alcan Corp.—makes Lawson the largest tenant in the building. ...

... Executive vice president Joe Learner and associate director Jon Azulay of Studley negotiated the transaction on behalf of Lawson Products. ...

... Studley’s Learner tells that the reasons for the relocation include: the fact that the company had been at its owned facility for more than 35 years and that it was shared with the distribution facility; recruitment and retention issues; the new facility is closer to public transit; has good amenities; and allows for corporate rebranding.

According to Learner, “Thanks to favorable market conditions and an advantageous sublease, we were able to negotiate an agreement that provides Lawson Products with well-located, state-of-the-art office space, poised to aid the company in recruitment, retention and brand recognition.”

According to a recent Q3 Studley report on the office marker, downtown continued to show signs of modest improvement in the third quarter as several significant relocations and expansions were completed. Leasing activity fell only slightly in the quarter, inching down by 4.4% from 2.3 million square feet to 2.25 million square feet. Additionally, the market seems to be experiencing some momentum as several notable tenants are in the market with substantial lease requirements, the report says.

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