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MARLBOROUGH, MA-They may come for the price, but Normandy Real Estate Partners principal Justin Krebs is hoping that prospective tenants eyeing the Marlborough Technology Park will stay for the quality.

"You've got to be able to provide a great environment so people can enjoy coming to work," Krebs tells GlobeSt.com in unveiling a multimillion-dollar overhaul of the seven-building, 579,000-sf property, an 85-acre complex Normandy secured last autumn in a 13-asset portfolio buy from Morgan Stanley Real Estate. "We are hearing loud and clear that amenities and a campus environment are highly desirable."

In assessing the 16.8-million-sf Interstate 495 West office market, known commonly as the "Boroughs" for the ubiquitous municipal suffix used there, Krebs says he anticipates a migration from tighter, higher-priced areas closer in to Boston such as Route 128 Central and the Framingham/Natick markets that in good times often send demand westward. Typically, a delta of $8 per sf can launch such a stampede, says Krebs, and the Jones Lang LaSalle mid-year report indicates the spread now is a full $10 per sf. Route 128 Central asking prices are averaging $30.37 versus $20.30 per sf in the I-495 West corridor, says JLL.

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