MetroWest Commercial Real Estate Still Shaky
BJ's Wholesale Club's announced move to the 282,000 square-foot National Grid site in Westborough was the largest lease transaction in suburban Boston in the first quarter of 2010, according to commercial real estate tracker CB Richard Ellis.
The MetroWest region had a 16.3 percent vacancy rate in the first quarter of 2010, which is one percent lower than the 17.3 percent vacancy rate for all of suburban Boston. The Boston commercial real estate market posted a 10 percent vacancy rate.
The Framingham-Natick area had the strongest vacancy rate across suburban Boston of 9.8 percent.
Asking lease rates in suburban Boston continued to drop compared to the previous year and quarter to an average of $19.72 per square-foot, according to the company.
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