New Construction Boosts Route 128 Office Rents
Vacancies and sublease space are up along the Route 128/Mass Pike office market, yet rents are rising steadily.
At first it seems like the law of supply-and-demand has been suspended, but the explanation lies in the booming development and repositioning climate. Tenants are trading up to newly built or renovated spaces and willing to pay a premium for state-of-the-art facilities in a suburban market where the average age of an office building is 35 years.
