Spaulding and Slye

June 2004
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The Real Estate Market Intelligence Monthly


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Suburban West - 128/Mass Pike
Market Highlights

The Suburban – Route 128/Mass Pike area contains 10 towns including Allston, Brighton, Brookline, Needham, Newton, Waltham, Watertown, Wayland, Wellesley and Weston.

Contact – Alex Dauria, Senior Vice President, Brokerage Group


Representative Large Block Availabilities – Class A options for tenants requiring 90,000 square feet of space or more in the Route 128/Mass Pike market are summarized below. These opportunities, sorted by size, are available in single buildings on contiguous floors and in adjacent buildings in campus settings. Some of this space began to be officially marketed in 1999, including Polaroid, Stony Brook Office Park and Storage Networks space, although most people had anticipated its availability for some time. Quoted rents are difficult to peg precisely, especially for sublease space, because some buildings have synthetic leases. The number of buildings making the 90,000 square foot max contiguous cut list is essentially unchanged since last published in our July 2003 issue. Space in two buildings on that list has been leased since our last market check in November 2003, dropping them below the threshold. Currently, 117 Kendrick Street in Needham has less space available, as does 95 Sawyer Road in Waltham, but those buildings have been replaced with space left behind by Lycos at 100 Fifth Avenue in Waltham and by 160 Gould Street in Needham, because Pearson Education will relocate to the Back Bay.

Recent Activity – In Waltham, at Cabot Place on Second Avenue, Symantec moved from 266 Second Avenue across the street and took over the entire 105,000 square feet at 275 Second Avenue, swapping locations with CSC Consulting. R/D Technology also subleased 57,700 square feet from Imagitas at 48 Woerd Avenue in Waltham.


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