The market has slowed considerably coming into the Q3, with only a few smaller trades and the occasional bigger fish. There are buildings due to deliver in 2009 and 2010, but with tentative financing, there is little new development entering the pipeline.
A number of companies have decided to stay where they are and simply renew their leases like Verizon in Watertown. Other companies are choosing to move outside Boston. Beth Israel Deaconess Physician Organization LLC is leasing 8,442 sf at 400 Blue Hill Dr. in Westwood, MA choosing to move from Renaissance Park in Boston. The move brings them next to the I-95 in the three-story, 100,000-sf facility.
"After reviewing various Boston and suburban options, 400 Blue Hill Drive was the best solution for BIDPO," says William Lynch of Colliers Meredith & Grew, in a statement. "Due to the building's close proximity to the commuter rail, the area's various amenities as well as the proximity to the physician practices served by BIDPO." Lynch and SVP Kristin Blount also of Colliers Meredith & Grew represented BIDPO in this deal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
