Peabody, MA - NAI Hunneman brokered the sale of Centennial Technology Center, a 325,000 square foot Office/R&D facility located at 10 Centennial Drive, from Avnet Corporation to Berwind Property Group, LLC of Philadelphia. Centennial Technology Center is a true commercial gem on Boston's North Shore," said Lowell Peabody, senior vice president at NAI Hunneman. "This is an excellent facility; it offers outstanding location, accessibility, and visibility for its tenants. Centennial Park has been an exceptional asset for Avnet Corporation, and continues to represent a tremendous upside for the buyer."

Kevin Malloy, principal at Peter Elliot LLC represented the buyer, Berwind Property Group LLC, in the transaction. The purchase price for Centennial Technology Center was $19.2 million. Lowell Peabody and Greg Klemmer negotiated on behalf of Avnet Corporation. Avnet will reduce its occupancy at the building to 80,000 square feet of offices. Dynisco Hotrunner, Gluster company owned by Berwind, will occupy the space vacated by Avnet. Dynisco will be operational by summer.

"This was a transaction with a lot of moving parts," said Peabody. "Avnet plans to transfer its assenbly and distribution operations off-site. Dynisco Hotrunner was seeking at least 130,000 square feet of office and manufacturing space for expansion. This was a fairly complicated transaction, but it was truly a win-win for allparties." Built in 1985, Centennial Technology Center is a two-story building providing immediate access to Route 128 and I-95.