January 28, 2016
Marlborough commercial vacancy falls to 11.9 percent
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Securing major companies such as GE Healthcare's U.S. headquarters has helped drive down Marlborough's commercial vacancy rate.
By Sam Bonacci
Finding a commercial property in Marlborough will be more difficult in 2016, as the commercial vacancy has fallen for the fourth consecutive year to just 11.9 percent, according to the Marlborough Economic Development Corporation (MEDC).
The city’s commercial vacancy rate of 11.9 percent represents a 15 percent decline in just the last year. However, it reflects a 65 percent decrease in the commercial vacancy rate from 2012.
During that same period, 5,000 jobs have been added to the local economy, with the city’s unemployment rate dropping to just 3.7 percent in December of 2015.
This growth is the result of large businesses, such as GE Healthcare’s U.S. headquarters, relocating to the area.
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