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Route 78 submarket houses largest volume of Class A office space in the state

  • ​After slipping to 28.3 percent in mid-2017, the Route 78 Class A vacancy rate trended higher during the second half of the year as corporate consolidations released large blocks of space onto the market. By year-end, the Class A vacancy rate had eclipsed 31.0 percent.

  • Contributing to the higher Class A vacancy rate was 67,750 square feet vacated by pharmaceutical manufacturer Lilly at Grande Commons 1 in Bridgewater. In addition, 105,000 square feet was available at 3 Mountainview Road in Warren. Chubb Insurance formerly occupied most of this Class A office building. Chubb Insurance had been acquired by ACE Limited in early 2016.

  • Approximately 3.7 million square feet of direct and sublease space was marketed in the Route 78 Class A office market at the end of 2017, which represented the largest volume of available space in the state.

Source: JLL Research

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