The former Family Golf site is a 79-acre site zoned for office, research and development, retail and warehouse/distribution. It is located on Route 139 and is approximately 15 minutes from Route 24 and 20 minutes from Route 128, in a town that is about 12 miles outside Boston.
The new owners have not finalized plans for redevelopment of the site. According to Meredith & Grew's second quarter statistics for the year, the overall suburban market ended the quarter with an overall vacancy rate of 21.8% as compared with 19.5% for the previous quarter. In the second quarter alone, there was an increase of 1.4 million sf of negative absorption. The report says that with the forecast of additional space continuing to come to market on a sublease basis, negative absorption is expected to continue and vacancy rates are expected to continue to rise due, it emphasizes, to the availability of sublease space and not new construction.
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