Christopher Tosti, executive vice president/partner, Robert Walles, vice president/partner, Robert McGuire, vice president/partner and Matthew Flaherty, an associate of CB Richard Ellis/Whittier Partners, represented property owner, Glenborough Properties LP. Kevin Malloy of Lincoln Property Co. represented the tenant Office Depot.
The two-story 75,277 sf first-class office building is located on Route 20 just off Route 495. Lease rates for this deal were not available, but the average asking rent for office space in the area is approximately $17 per sf. According to Trammell Crow Co.'s most recent statistics, the overall availability rate for office space in Marlborough has dropped from a high of 39% in January to 28.5%.
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