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%.
Continue Reading for Free
Register and gain access to:
- 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
© 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.