Volex relocated from nearby One Batterymarch Park for expansion purposes. The company wanted to remain in the city and this building provided Volex with a block of contiguous space. Powers notes that, as is typical of the current market, this deal took a long time to put together.
According to Grubb & Ellis's second quarter market report the area's vacancy rate is a respectable 10.6%. The report indicates that the inner suburban South market also had a strong positive absorption this past quarter of 168,096 sf bringing its year to date absorption up to a positive 233,999 sf.
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