Steve Allison, chief financial officer of WebHire, says that the company, which provides web-based business-to-business solutions, chose to remain in the building due to its location. The three-story office is situated on a 15-acre site 12 miles from Boston and one mile from the Route 4/Route 128 interchange. It is in the commercially zoned office, research and development district established by Lexington adjacent to the Hanscom Field research and technology facilities.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $20 per sf. The deal is a positive one in a market that has an availability rate of 31%, according to Spaulding & Slye Colliers' most recent statistics.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
