Vestcom Takes 49,500 SF in Relocation

WILMINGTON, MA-Vestcom New England, a subsidiary of Vestcom International, is leasing 49,500 sf at 5 Cornell Place. The deal, one of the largest in the northern suburbs in 2003, represents a relocation of the company’s regional facility from 12 Gill St. in Woburn.

Vestcom was represented by Mark Mulvey and Michael Dalton of Trammell Crow Co., while property owner Archon Atlantic International was represented by Bill Baker and Torin Taylor of Cushman & Wakefield. Lease rates for this deal were not available, but the average asking rent for similar space is about $22 per sf.

The company, which produces and distributes time-sensitive documents, will develop a new facility at this location. Vestcom says the transaction afforded them the opportunity to “completely restructure the way they do business and cut real estate costs.” According to Jay Adams, CFO of Vestcom New England, “This new facility will provide Vestcom the tools to scale our business and capture more opportunity for the next seven years.”