Observers familiar with 10 Cabot Rd. say the property will be attractive not only because it is fully occupied, offering a measure of stability, but also due to a presence in Boston's "inner suburbs," a term representing communities such as Malden, Medford, Somerville and Watertown whose boundaries either touch Boston or are within a few miles of the downtown market. The inventory in that ring has risen in the past 15 years, but still amounts to just over five million sf. According to figures provided by GVA Williams, there was a direct vacancy rate of 6.1% for the inner suburban submarket at the close of the first quarter, with rental rates averaging $19.82 per sf.

The area where 10 Cabot Rd. is located had become a hot growth sector in the 1980s and early 1990s, exemplified by the arrival of the Boston Co. to the adjacent One Cabot Rd. in that time frame. One Cabot and 10 Cabot Rd. were originally constructed by Cabot, Cabot & Forbes. Encouraged by the early success, Everett, Malden and Medford teamed up on an ambitious plan in the 1990s to convert a 200-acre swath straddling their communities into a high-tech business Mecca known as Telecom City. After work on that for several years faltered amidst the technology bust of 2001, the supporters have since recast the tract, now calling it River's Edge and promoting a mix of uses.

As for 10 Cabot Rd., sources spoken with predicted substantial investor interest, citing not only the building's general quality and solid rent roster, but proximity to public transportation on the Orange Line subway, which runs just steps from Cabot Road. "That's a real bonus," says one source, explaining it could serve as back office space for Downtown Boston companies intent on retaining their employees. The Orange Line stop also has extensive parking for automobile commuters.