The building is located right off Route 128 here next to the Sheraton Hotel and conference center. According to Charles Batchelder, senior vice president at R.M. Bradley and head of the leasing program for the building, a number of tenants are very seriously considering leasing space here. "There has been strong interest within the past ten days," he tells GlobeSt.com.
Batchelder says that he is going after the rent-sensitive tenant who wants to be on Route 128 but is willing to be a little further up North. While asking rents in the Waltham area remain in the high $40s to low $50s per sf, Batchelder notes that he is asking for rents in the low $30s.
Two months ago, before the high tech bust, Batchelder points out that he would have been asking for rents in the mid $30s. "We are being aggressive about looking to close a deal," he says.
Hobbs Brook is in the process of developing another five-story building at 701 Edgewater Dr. That 160,000-sf building will be available in the summer of 2002.
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