The aggregate value of the agreements is just short of $3 million, according to Jay Nugent, assistant vice president in the Boston office of Spaulding & Slye. Nugent and senior vice president Alex Dauria represented the owner in all four negotiations.
"The building is now 90% occupied," Nugent tells GlobeSt.com, and he attributes that recent gains to the new ownership, "which has been extremely proactive and responsive to prospective tenants." The new leases are: 6,068 sf for CTC Communication Corp., 4,725 sf for Mercator Advisory Group, 5,633 sf for Avitage, and 8,546 sf for Software Spectrum. The two-story, 61,000-sf building is located off Rte. 117, west of Rte. 128.
The average asking rental rate among all classes of office buildings in this 128/Massachusetts Pike submarket is $24.90 per sf, according to first-quarter data from Spaulding & Slye. The submarket commands the highest office rates among all suburban Boston locations. Spaulding & Sly is a member of the Jones Lang LaSalle group.
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