Peloton signs 75,000 SF lease at 61 Leona Drive in Middleborough for last-mile distribution

Standard Times 

Mar 2, 2021 

NEWTON – National Development announces the execution of a 75,000 square foot lease with Peloton Interactive, Inc. (NASDAQ: PTON), the largest interactive fitness platform in the world, for last-mile distribution at 61 Leona Drive in Middleborough, Massachusetts. The property will be utilized by the fitness giant to complete direct-to-customer deliveries of its state-of-the-art fitness equipment, including bicycles and treadmills, across the Greater Boston region with an initial lease term of five years and three months.

With this transaction, National Development’s industrial portfolio, which includes additional flagship distribution locations for industrial users across Greater Boston, is 100% leased. 

“We are extremely enthusiastic about Peloton joining our industrial portfolio by taking our last remaining vacancy and the validation its tenancy provides for 61 Leona Drive as an exceptional last-mile location,” said Andrew Gallinaro, Managing Partner at National Development. “The property is well positioned to facilitate seamless distribution logistics given its attractive in-place infrastructure and immediate highway accessibility.”

National Development acquired 61 Leona Drive, an institutional-quality warehouse and distribution facility, in 2018. The 150,000 square foot building includes 24 tailboard docks, high-bay ceilings, an existing showroom and 50' x 50' bay spacing. Set on 22.7 acres of land near Interstate 495 and Route 24, the property is permitted to accommodate up to a 50,000 square foot expansion. 

National Development has been one of greater Boston’s most active real estate investment and development firms in Massachusetts. For over 30 years, National Development has worked closely with partners and stakeholders to create vibrant and interesting places, acquiring or developing over 30 million square feet of space throughout greater Boston.