W
AYLAND, MA–The Central 128 office market is undergoing a significant transformation as it emerges from the post-pandemic lull. Recent owner-occupant sales and local investor acquisitions have shed new light on market values and demand dynamics, revealing a growing gap between pricing expectations for owner-occupants and investors.

    A key takeaway from R.W. Holmes' report is that this discrepancy is emerging as a defining feature of the market, suggesting a revaluation of property worth in the new hybrid-work reality. This shift is evident in several high-profile lease transactions, including:

    * Advisor360's move to TripAdvisor's former space at 400 First Avenue

    * Global Partners' relocation from Waltham to Newton

    * Evident Scientific's renewal of its lease at 48 Woerd Avenue in Waltham

    Despite these promising deals, tenant caution remains a hallmark of the current market climate. Transactions took longer than expected to close, as tenants continued to exhibit a lack of urgency.

    Notable sales have helped establish new benchmarks for property values, including:

    * The sale of 1210-1230 Washington Street in Newton for $23.75 million

    * Sales of 313 Washington Street and 199 Wells Avenue in Newton

    These transactions have sparked renewed interest in off-market deals, with several properties potentially hitting the market later in 2025. UMass's plans to redevelop its Mount Ida campus in Newton could also reshape the local workforce landscape by providing affordable housing and a talent pipeline for employers.

    As Central 128 continues its post-pandemic evolution, the market is showing early signs of recovery through strategic leasing activity, property revaluation, and forward-looking development. R.W. Holmes' insights highlight a market in transition, where patience may be key but momentum is quietly building.