Flex space catering to small and mid-sized tenants still bloatsthe northern tier of suburban Boston, but such product is in scantsupply on the South Shore, according to 95 Shawmut Rd. buyerDenison Hall. Not only has the Route 128 South area traditionallybeen populated by insurance and financial services companies thatdid not lend themselves to flex/R&D construction, "a lot ofinventory has disappeared," Hall explains, including severalbuildings demolished to make way for the nearby Westwood Stationmixed-use development that will deliver upscale housing, office andretail in a section once filled with commercial tenants.

Hall and partner Adam Berger have acquired about 600,000 sf offlex/R&D space in Greater Boston during the past few years,including their $15.8-million purchaselast summer of two buildings in the Interstate 495 South market.Initially reported by GlobeSt.com on July 17, that earlier dealinvolved 167,000 sf at 157 and 165 Grove St. in Franklin, part of athree-building park developed by the Maggiore Cos. of Woburn.

In the Franklin instance, Maggiore had fit a niche in an areadominated by large industrial and warehouse facilities, and Hallsays he believes the opportunity exists to fill a similar gap onthe office-centric Route 128 belt that sits closer to DowntownBoston. Maggiore's construction arm has been retained to convert 95Shawmut Rd. on behalf of the new owners, who plan to pursue tenantsneeding between 5,000 and 30,000 sf. "That's our sweet spot," saysHall. Broker Steve Clancy of CB Richard Ellis concurs that demandoutstrips supply for companies in that range.