Pilgrims of NE Acquires 16,500-SF Office Building

The 16,500-sf building is located at the Route 495/East Main Street interchange. Marc Verreault, Bob Bowen and Chris Hannon represented the Carruth Capital in-house while Tom Hills Sr. represented Pilgrims of New England in-house.

The area continues to struggle to fill its space with the fourth quarter 2003 statistics from Grubb & Ellis putting vacancy rates at about 32%, up slightly from the previous quarter. Average asking rents for office space in the area continue to be approximately $21 per sf.