A manufacturing company with about 10 employees plans to relocate from a neighboring county into the Watertown Center for Business and Industry on Starbuck Avenue.
William J. Soluri, the industrial centers site manager, would not identify the company or what they do, saying the firm wanted more time to notify its employees about the potential move.
The centers facility committee approved a year lease for 7,000 square feet of space with the company with the option for two more years. The lease for space in Building C is expected to go before the full board at a meeting later this month.
Before the vote, Donald W. Rutherford, WICs board chairman and the CEO of the Watertown Local Development Corp., said the potential tenant would be a good addition for the small business incubator.
The fact that they have 10 employees and it is manufacturing, I support the lease, he said.
The company needs to move to cut down on higher operating costs at its current location, Mr. Soluri said. The WIC business incubator offers low-cost rent to its tenants with the idea that they grow and move out on its own.
According to the proposed lease, the company would pay a full base rent of $3.15 per square foot for half of the 7,000 square feet and $2 per square feet for the rest during the year-long lease, making the total annual lease cost $18,029. If the company stays for the option years, the lease would increase to $2.50 per square feet for the second year and to $3 in the next year. After that, it would pay full-market rent, Mr. Soluri said.