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Route 495 Market Finally Gets Hit

MARLBOROUGH, MA-The commercial real estate market along Route 495 takes a turn for the worse as a number of major firms look to get rid of large chunks of their properties in this area. The vacancy rate here has risen 3% in a few months.

By Naomi Grossman | Updated on September 05, 2001

MARLBOROUGH, MA-Until now, the commercial real estate market along the Route 495 belt has been weathering the high-tech bust better than other areas of the Greater Boston area. But its fortunes appear to be turning as a number of high profile companies are giving back space at an alarming rate.

According to Cushman & Wakefield’s mid-year report, as of June, the Route 495 area has a 7.7% vacancy rate–3% higher than just a few months before. “They got hit a little later,” James Belli, senior director at Cushman & Wakefield, tells GlobeSt.com. “Most of their fallout was not dot-com-related.”

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