Route 9 Office Vacancy Bests Region
The Framingham-Natick office market had the lowest vacancy rate in the suburban Boston market during the second quarter, according to the latest report from the real estate firm CB Richard Ellis.
Just over 10 percent of the 7 million square feet of office space in the Framingham-Natick area is unoccupied. That's significantly better than the 16.7 percent vacancy rate for the suburban market as a whole.
Asking rents in the region ranged from $17.19 per square foot for the Metro North area, which includes the Northern Route 128 and Interstate 495 belts, to $22.31 per square foot in the MetroWest area.
The average asking rent for the suburban area as a whole is 19.89 per square foot.
The largest local deal during the quarter was a 135,000-square-foot lease by NFI Industries of space on Saratoga Boulevard in Devens.
Another significant movement in the market is Fidelity Investments planned move from its 700,000-square-foot facility in Marlborough. That property is expected to go up for sale by the end of the year.
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