July 1, 2011
MetroWest Vacancies Stable
The MetroWest commercial office market remained stable during the second quarter of 2011, according to a report from the Boston-based real estate firm Richards Barry Joyce & Partners.
Vacancies in office space remained at 19.2 percent and Class A asking rents also remained flat at $19.17 per square foot.
The report notes that Framingham Class A space is priced 41 percent higher than in Westborough, where the vacancy rate dropped from 24.3 percent to 20.1 percent.
There are also some large properties that remain vacant, such as the 126,000-square-foot HP campus in Marlborough. As a result, 10 percent of buildings on the I-495 corridor accounted for 50 percent of vacancies in the second quarter.
WBJ Web Partners
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