The following are highlights from Jones Lang LaSalle's November Marketscape Monthly Report.
Demand in the 128/Mass Pike submarket consists of approximately 44 tenants requiring a total of 2.2 million s/f. Nearly ten companies require 100,000 s/f or more. However, tenants in need of 15,000 s/f and less remain the largest demand segment. Demand stems from a broad mix of industries including computer software, biotechnology, consulting and health services.
Lease transactions include:
Waltham - Generate, Inc. has sublet 17,300 s/f at 1100 Winter St. The tenant will occupy the fourth floor for two years. Stanton Insurance Agency, Inc. signed a three-year renewal for 8,000 s/f at 230 Second Ave. DSCI Corp. relocated and expanded at 275 Wyman St. in Hobbs Brook Office Park. The tenant will occupy 7,592 s/f for six years.
Needham - Resolve Technology leased 6,980 s/f at 300 First Ave. in New England Industrial Center for five years.
Demand in the 495/Mass Pike submarket consists of approximately 16 tenants requiring a total of 1.3 million s/f. Six companies require 100,000 s/f or more. Demand stems from a broad mix of industries including business services, electronic manufacturing, banking and retail.
Lease transactions include:
Westborough - Exagrid Systems renewed its lease for 9,932 /f on the first and second floors at 2000 West Park Dr. in Westborough Office Park.
Marlborough - Capaccio Environmental Engineering Inc. subleased 9,167 s/f for three years at 293 Boston Post Rd. West. Union Security Insurance Co. relocated to 65 Boston Post Rd. in Marlboro Executive Park. The tenant will occupy 5,892 s/f for five years. Cavlum Networks signed a four-year lease for 38,800 s/f at 100 Nickerson Rd. in Marlborough Technology Park. St. Mary's Credit Union renewed its 21,386 s/f headquarters lease at 293 Boston Post Rd. for three years.