Maric Shopping 155,000-SF Facility

NEEDHAM, MA-Locally based Maric Inc. is shopping 10 Brookline Pl. W. The 155,000-sf facility is located just on Route 9 and is leased-up with two tenants, Dana Farber and the New England Institute of Art. Eastdil will be marketing the property on behalf of Maric. The asking price is undisclosed at this time, but talk on the street is that the property will go in the $475 psf range.

The market has slowed considerably coming into the Q3, with only a few smaller trades and the occasional bigger fish. There are buildings due to deliver in 2009 and 2010, but with tentative financing, there is little new development entering the pipeline.