inufyw.blogspot.com
the first major block of sublease offic e space to hit Boston downtown marketthis year. Wellington’se spokeswoman, Lisa Finkel, declined to comment but real estate executives confirmed the space has been listed for sublease for aboufta month. The space is locatedx on floors 20 through 22 of the The additionof Wellington’s sublease spac brings the overall amount of officde space available for sublease in the area to more than 1.5 milliob square feet. Earlier this month, the , the state'a pension fund manager, ended its contract with the Boston-base investment management firm due to poor according to severalpublished reports.
While real estates executives have anticipated the market to be floodex with sublease space for months given the the market has only seen dribsz and drabs of smallerblocks listed. Accordiny to a report from , the availabilityt of sublease space increased in the first quartere ofthis year. Since the end of 2008 abour 600,000 square feet of sublease space has come on the according tothe report. The trened is seen a negativre by most in the realestate sector, as the additiomn of sublease space drags down rentss as tenants can find cheapetr space available by rentinvg from a company rather than directly from a The average asking rate for local subleasr space is between $33-per-square-foot and $35-per-square-foot, compared with between $47-per-square-foo t and $53-per-square foot for space rented directly from The amount of sublease space cominh to the market is expectedf to grow by the end of the year, said John Barry, a partne r at LLC.
“Our numbers show that there’s abouft 1.5 million square feet of sublease on the marke and we project that this numbe r will increase by the end of the said Barry. Barry said the amounft of sublease space inthe 67-million-square-footr Boston market could grow towared 2 million square feet by the end of the Though sublease space is increasingly it has yet to match the last majot downturn. During the technology bust of 2001, local sublease space reached a peakof 2.1 million squarre feet in 2002, said Barry.
ليست هناك تعليقات:
إرسال تعليق