Having participated in many of those Q1 transactions, Karyn McFarland of Grubb & Ellis is effusive about North Station's opening frame although she tells GlobeSt.com there has been a more recent drop in demand. "Things were really active, but it has slowed down considerably over the past three weeks" McFarland relays.

Possible reasons cited by some professionals include an uncertain economy and theory that it might pay to "sit on the sidelines a bit," a sentiment that McFarland does not share. North Station's average asking rent has trended up to $31 per sf, and some deals are now cresting over the $40 per sf level, the broker explains. "I think it's a temporary lull," she says of the present slide. Tenants facing imminent lease expirations will have to act soon, she adds, especially since many have already delayed decision making in the face of a record run-up in rents in 2007.

North Station has proven a welcomed outlet for those seeking rent relief, according to McFarland. Advertising firms, communications companies and publishing groups are hailing from the Back Bay, uprooted by the highest asking rents in New England while East Cambridge tenants are being lured from across the Charles River. And, they're often emerging companies seeking a young employee base. McFarland says those firms in particular like North Station's similar architecture, a major commuter rail transit center and vibrant nightlife anchored by the Boston Garden. Meanwhile, she says "law firms are absolutely taking notice of North Station" as an alternative to Boston's pricey Financial District, barely a five minute walk away.