The two-story, 22,000 sf office building was built in 1983 and is located close to Route 93.
The deal is a demonstration of the slowly changing fortunes of this city, which is just about 10 miles south of Boston. According to Trammel Crow Co's most recent statistics, the 4.1 million sf office market currently has 576,319 sf or 14% of its space available. Sublease space continues to be a driving force in the vacancies as 209,802 sf of the available space is not direct space. The good news is that the overall available is down from a year ago when that figure was at 17.6%. The city saw 147,938 sf absorbed over the past year.
Details of the lease rate in this deal were not released but the weighted average rent for Quincy is $23.64 according to Trammel Crow Co.
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