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Article: Massachusetts Vacancies Mean Fewer Firms Look to Rhode Island Office Space.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 27, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Andrea L. Stape, Providence Journal, R.I. Knight Ridder/Tribune Business News
Jan. 27--The signs now are impossible to miss.
"For lease." "For rent." "Building available."
These signs weren't around three years ago. Driving up Route 495 then in Massachusetts -- through Franklin, Bellingham and Milford -- it was difficult to find vacant high-end office space for rent. Vacancy rates were around 8.3 percent, according to Cushman & Wakefield of Massachusetts Inc., a commercial real estate broker.
Things were even worse closer to Boston in 2001, with vacancy rates hovering around 2 percent and lease rates around $61.59 a square ...