Brian Hines, principal, and David Boyle, senior associate, of Trammell Crow Co. represented Brainshark, while Kenneth Shaffer of he Shaffer Co. represented Lifeplans. Lease rates for this deal were not available, but the average asking rent for office space here is approximately $22 per sf.
Excess sublease space continues to make its mark on the area's office market. According to Trammell Crow Co.'s most recent statistics, Waltham's overall availability rate, including both direct and sublease space, is at 35%, while the area's vacancy rate, which includes only vacant direct space, is at 24%. But, in a possible sign of a market that is beginning to turn a corner, Waltham's office market did experience positive absorption of nearly 83,000 sf this year as of April.
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