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Verizon Communications to Sublease Space

BOSTON-Industry sources confirm for Globest.com that Verizon Communications will be subletting between 200,000 sf to 350,000 sf of space here downtown. This substantially increases the vacancy rate here.

By Naomi Grossman | Updated on February 23, 2001

BOSTON-Verizon Communications will reportedly be putting additional space on the market here by subletting space at its complex here on High Street. While this city’s vacancy rate has remained notoriously low, this space that comes at a time when high-tech companies here are also subletting space could change the tide of the commercial real estate market here.

An industry source confirms for GlobeSt.com that Verizon will be subletting the space but how much is unclear. “I’ve heard that they are going to sublease 200,000 sf,” the industry source tells GlobeSt.com. “But that they might go as high as 350,000 sf.” Unconfirmed reports state that the asking rents will be between $60 per sf for lower floors and over $70 per sf for the higher floors.

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