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Burlington Market Warms Up

BURLINGTON, MA-Businesses have filled more than 300,000 sf of class A office space since the beginning of the year in this suburban market.

By Beverly Ford | Updated on November 09, 2006

BURLINGTON, MA-Burlington’s office market is warming up with more than 300,000 sf of class A office space absorbed in that market since the first of the year. “There’s definitely been a strong demand in that marketplace,” Matt Harvey, a specialist in the Route 128 submarket for Cresa Partners’ Boston office, tells GlobeSt.com.

Harvey says a flight to quality has helped fuel the demand for class A space in the Burlington area. The increased demand from growing firms has also fueled a rise in rents, with the average space costing about $2 more per sf than it did at the beginning of the year, he says. According to a study compiled by Cresa, class A office rents rose from $21.50 per sf at the beginning of the year to $23.00 per sf in the third quarter. Premium class A space can run as high as $31 per sf in some buildings, Harvey says.

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