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Deals May be Ray of Sunshine in Gloomy Forecast

WESTWOOD, MA-A flurry of deals here and in Acton and Tewksbury is good for the suburban market, but local brokers insist that its not time to get too optimistic, mainly because of the increase in sublease space.

By Naomi Grossman | Updated on May 21, 2001

WESTWOOD, MA-A number of recent lease deals here and in Acton and Tewksbury offer a ray of light to the suburban market here, but local brokers are not optimistic that the commercial office market here is on its way up again. A large number of recent deals were subleasings, generally considered a sign of a weak market.

In Tewksbury, Winphoria Networks Inc. subleased 52,000 sf from Datex-Ohmeda. Paceline Systems Corp. subleased 17,138 sf from OSDN in Acton and Conexant Systems Inc. leased 24,627 sf here for five years.

Despite this recent flurry of activity, Curt Oberg, a senior vice president at Boston-based Spaulding & Slye Colliers International, who was involved in the Paceline and Conexant deals, insists that the market here is still slow. “The market isn’t picking up,” he tells GlobeSt.com. “These were deals that were in the pipeline.”

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