The Merrimack Valley continues to see strong growth both in the regional real estate market as well as in the economy overall. The commercial and industrial real market in the Merrimack Valley appears to have an insatiable appetite for new space. Construction in the Merrimack Valley persisted throughout 1999 and continues into the new millennium. Regional real estate professionals have been extremely busy in keeping up with the demand for both new and existing industrial space in the market area.
Rental rates are fairly stable and vacancy rates are very low.
There has been up to 200,000 square feet of new industrial space which came on-line in 1999 in the immediate market area. The new space was in high demand and as a result, occupancy of the space was nearly immediate. Supply and demand for office space in the Merrimack Valley has been stable over the last several months. The high tech work force in the Merrimack Valley is strong, and as a result, these young firms have chosen the Merrimack Valley for their start-up operations because of the high tech work force in the region. Retail activity has also been stable in the area.