495 WEST

495 NORTH

495 NORTHEAST

495 SOUTH

128 SOUTH

128 NORTHWEST

128 NORTH

FRAMINGHAM/NATICK

INNERSUBURBS

128 WEST

SOUTH INDUSTRIAL M

ARKET

ASKING RENT

LEASING ACTIVITY

12-MONTH ABSORPTION

SUBLEASE VACANCY

DIRECT VACANCY

STATISTICS OVER THE LAST 12 MONTHS

303 Congress Street | Boston, MA 02210 | 617.457.3400

www.NAIHunneman.com

Q12017

303 Congress Street | Boston, MA 02210 | 617.457.3400

www.NAIHunneman.com

ArrowsDirect Vacancy Sublease Vacancy 12-month Absorption Leasing ActivityAsking RentDown Down Down Down Up

Total Inventory Under Construction Direct Vacant Sublease VacantRoute 128 South 38,543,181 132,000 3,007,948 8,900Route 495 South 30,649,493 606,200 3,029,292 45,000Total 69,192,674 738,200 6,037,240 53,900

Notable TransactionsTenant Address City SizeExel Cost Center* 530 John Hancock RoaTaunton 181,980 Mancon 200 Shuman Avenue Stoughton 87,771 Boston Beedar 20 Middlesex Road Mansfield 83,899 Dorel Juvenile Group* 25 Forbes Boulevard Foxborough 53,112 EGM 675 Canton Street Norwood 42,791 *Renewal

Featured Deal

Vacancy and Net Absorption

NAI Hunneman assisted Hercules Realty with a full-building lease at 30 Panas Road in Foxborough. The tenant, ABC Supply Company, inked a deal for 30,200 square feet during the first quarter as it continues to expand its branch locations.

0%

2%

4%

6%

8%

10%

12%

-400,000

-200,000

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Q42014

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Net Absorption Vacancy

Class A&B Rents

Submarket Trends

$0

$2

$4

$6

$8

Q42014

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Route 128 South Route 495 South

- The South Industrial market saw negative absorption for the first time since the second quarter of 2015; causing vacancies to inch up slightly during the first quarter. - Dynisco, Dorel Juvenile Group and Exel Cost Center executed renewals in the Route 495 South Submarket. - The Kellogg Company is subleasing the entirety of 17 Forge Parkway in Franklin, which totals 84,376 square feet. - After being acquired last year, Cybex International is closing its operations at 10 Trotter Way in Medway and relocating to the Midwest. The 120,000 square foot building boasts office, showroom and manufacturing space. - Clarion Partners recently sold 400 Manley Street in West Bridgewater. The 216,400 SF warehouse transacted for $13.1 million or $61 per square foot.

VACANCY AND NET ABSORPTIONCLASS A & B RENTS

TENANT ADDRESS CITY SIZE

Exel Cost Center* 530 John Hancock Road Taunton 181,980

Mancon 200 Shuman Avenue Stoughton 87,771

Boston Beedar 20 Middlesex Road Mansfield 83,899

Dorel Juvenile Group* 25 Forbes Boulevard Foxborough 53,112

EGM 675 Canton Street Norwood 42,791

*Renewal

NOTABLE TRANSACTIONS

TOTAL INVENTORY

(SF)

UNDER CONSTRUCTION

(SF)

DIRECT VACANT

(SF)

SUBLEASE VACANT

(SF)

TOTAL VACANCY

RATE

Q1 NET

ABSORPTION (SF)

YTD NET

ABSORPTION (SF)

ASKING RENT ($/SF)

Route 128 South 38,543,181 132,000 3,007,948 8,900 7.8% (74,394) (74,394) $6.90

Route 495 South 30,649,493 606,200 3,029,292 45,000 10.0% (163,759) (163,759) $6.07

TOTAL 69,192,674 738,200 6,037,240 53,900 8.8% (238,153) (238,153) $6.48

FEATURED DEAL

30,200 SF30 PANAS ROAD, FOXBOROUGH

NAI Hunneman assisted Hercules Realty with a full-building lease at 30 Panas Road in Foxborough. The tenant, ABC Supply Company, inked a deal for 30,200 square feet during the first quarter as it continues to expand its branch locations.

STATISTICS

SOUTH INDUSTRIAL MARKET

SUBMARKET TRENDS

• The South Industrial market saw negative absorption for

the first time since the second quarter of 2015; causing

vacancies to inch up slightly during the first quarter.

• Dynisco, Dorel Juvenile Group and Exel Cost Center

executed renewals in the Route 495 South Submarket

during the first quarter.

• The Kellogg Company is subleasing the entirety of 17 Forge

Parkway in Franklin, which totals 84,376 square feet.

• After being acquired last year, Cybex International is closing

its operations at 10 Trotter Way in Medway and relocating

to the Midwest. The 120,000 square foot building boasts

office, showroom and manufacturing space.

• Clarion Partners recently sold 400 Manley Street in West

Bridgewater. The 216,400 SF warehouse transacted for

$13.1 million or $61 per square foot.

Q1 Q1 2017