Since the Great Recession of 2009, business tenants in Greater Boston, including MetroWest towns along Interstate 495, have enjoyed low commercial rents and the upper-hand in negotiations with landlords. But is that starting to change?
It's highly possible, according to data released this month in indSTATus, the industrial real estate market publication by TranswesternRBJ, the Boston-based commercial real estate firm that services clients between Boston and the 495 corridor.
The 495 North submarket, which has struggled with office vacancy and offered lease rates well below those found in neighboring regions, showed signs of improvement in the third quarter of 2013, according to Boston commercial real estate advisory firm Richards Barry Joyce & Partners (RBJ).
Littleton-based Dover Saddlery, an equestrian products retailer, announced the opening of its third new store in about a month. Dover's Austin, Texas store will open this fall, according to a statement from the company.
Business tenants looking for commercial office space often look to MetroWest as an affordable alternative to Boston that's still highly accessible and close to all the right amenities.