Waltham is the hottest office market in the state outside of Boston and Cambridge, leading a surge in corporate real estate activity along the Route 128 corridor, according to a new report. But Burlington, Newton and Woburn are not too far behind.
Priced out of Cambridge’s Kendall Square and Boston’s Innovation District, fast-growing tech and life -science companies are fueling the demand for suburban space as they ramp up hiring, say authors of the study by NAI Hunneman Commercial Real Estate Services.
“There is a desire to escape a real frenzy of demand in Boston and Cambridge,” said Brendan Daly, an NAI Hunneman vice president who worked on the report.
More leases for office space were inked in Waltham during the second quarter than in any other Greater Boston community, according to the study. There were 124 deals signed during April, May, and June.
Second up were Burlington and Newton, tied at 71 lease deals each, followed by 43 deals in Woburn, 42 in Needham, and 21 in Lexington, the Boston-based firm reported.
In Waltham, office space deals ranged from Compuware Corp.’s 68,000-square-foot lease at 404 ¬Lyman St. to Creativestar Solution’s deal for 3,000 square feet at 460 Totten Pond Road.
The list of new arrivals also included Intelligent¬MDx, an up-and-coming life science company and a refugee from the ever more expensive Cambridge office market. The company recently leased 27,000 square feet at 285 Bear Hill Road in Waltham, Daly said.
In Burlington, companies that signed office space deals in the second quarter include Foliage Inc., a technology consulting operation that took 60,000 square feet at 10 and 20 North Ave., and Marine Polymer Technologies, which leased 6,550 square feet at One Van de Graaf.
Also heading to Burlington were Flexion Therapeutics, which moved into 11,754 square feet of space at 10 Mall Road, and TFS Energy, with a lease for 2,205 square feet at 25 Mall Road.