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Spec Development Is Hot in Waltham

WALTHAM, MA-Waltham has become a hotbed of speculative development with 1.6 million sf in spec buildings already planned for city.

By Beverly Ford | Updated on September 01, 2006

WALTHAM, MA-Developers are turning up the heat on Boston’s suburban office market with plans to add 1.6 million sf in speculative development to the Waltham submarket as demand for class A office space continues to soar.

“Waltham is the sole center of speculative development,” Brendan Carroll, a researcher with Richards Barry Joyce and Partner’s Boston office, tells GlobeSt.com. Carroll says demand for office space is so strong, in fact, that developers are moving ahead with building plans despite any widespread tenant commitments.

“Because of low vacancy rates within class A buildings, which are presently under 10%, demand continues unabated,” says Carroll, who is presently tracking 1.6 million sf in speculative projects in the Waltham market alone.

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