Boston-based REIT Winthrop Realty Trust has entered into a new lease to rent all 93,000 square feet of its Andover property and a renewal lease for all 56,000 square feet of its South Burlington, Vt., property, both of which had leases terms that expired Dec. 31.

The Andover property was leased to PAETEC Communications Inc., a subsidiary of PAETEC Holding Corp., for an initial term of 12 ½ years, with three, 5-year renewal options.

Net rent payable under the lease commences after the first six months of the lease term at an initial rent of $8 per square foot, increasing to $10.45 for the second and third year of the term, and thereafter by 3 percent every second year.

With respect to the South Burlington, Vt., property, the lease with Fairpoint Communications Inc. is a renewal of the current lease but with modifications to provide for a current term of five years, with three, 5-year renewal options and at an initial gross rent of $14.29 per square foot.

In addition, Winthrop has entered into a new lease to rent 521,433 square feet of warehouse space and 31,718 square feet of office space representing approximately 95 percent of the rentable square feet at its Jacksonville, Fla., property, making the property 100 percent leased.

The space at the Jacksonville, Fla., property was leased to Football Fanatics, Inc., a sports apparel and merchandise company, for an initial term of 66 months, with three, 3-year renewal options.

Net rent payable under the lease commences in August at a rate of $1.17 per square foot, increasing to $1.21 per square foot from August 2011 through July 2012 and thereafter by approximately 16 percent per year for the balance of the initial term.