North

---

STATISTICS

NORTH INDUSTRIAL MARKET

495 NORTH

128 NORTH

128 NORTHWEST INNER SUBURBS 128 WEST

495 WEST

201 7

7 201

495 NORTHEAST

Q4 Q4

NORTH INDUSTRIAL MARKET

FRAMINGHAM/ NATICK

128 SOUTH

495 SOUTH

TOTAL INVENTORY (SF) Route 128 North

UNDER CONSTRUCTION (SF)

DIRECT VACANT (SF)

SUBLEASE VACANT (SF)

TOTAL VACANCY RATE

Q4 YTD NET NET ABSORPTION (SF) ABSORPTION (SF)

ASKING RENT ($/SF)

28,378,974

-

1,149,367

117,301

4.5%

141,071

382,104

$10.04

3,881,764

-

173,292

37,974

5.4%

24,436

70,373

$19.89

Route 495 North

20,993,545

383,000

2,426,064

67,171

11.9%

(34,485)

(279,783)

$9.22

Route 495 Northeast

12,134,427

175,000

1,303,997

57,600

11.2%

(129,372)

442,950

$7.63

TOTAL

65,388,710

558,000

5,052,720

280,046

8.2%

1,650

615,644

$9.36

Route 128 Northwest

Arrows Direct Vacancy Down

SUBMARKET TRENDS

Sublease Vacancy Down

17,000 SF

118 LUMBERSubmarket LANE, TEWKSBURY •

• • •

•

•

12-month Absorption Leasing Activity FEATURED DEAL Down Down

Total Inventory Under Construction Di rect Vacant Route 128 North 28,378,974 0 1,149,367 Route 128 Northwest 3,881,764 0 173,292 NAI Hunneman’s North suburban team represented the landlord Route 495 North 20,993,545 383,000 2,426,064 with the execution a full-building Lane in Routeof495 Northeast lease at 118 Lumber12,134,427 175,000 1,303,997 65,388,710 558,000 5,052,720 Tewksbury. NAITotal Hunneman’s South suburban team represented

Over the last five years, vacancies in the Route 128 North submarket declined by nearly 900 basis points, reaching one of the lowest levels in the metro, and net absorption totaled roughly 2.7 million square feet. The 145,000-square-foot 5 5th Street in Peabody came online in the fourth quarter of 2017. Innovive is relocating its operations from New Hampshire to Billerica and establishing its East Coast headquarters. HITEC Sensor Solutions and Monogram Foods also signed lease expansions in the Route 495 North submarket during the fourth quarter. ETM Manufacturing vacated 43,200 square feet at 24 Porter Road in Littleton, and Sabic Polymershapes moved out of the 25,600-square-foot 116 Queenstown Street in Devens. Polartec also vacated space at its former operations at 46 Stafford Street in Lawrence. The property was auctioned off for $5.82MM or $10.40/SF in December to an undisclosed buyer.

the tenant, Kenworth Northeast, who was looking to establish a Notable Transactions location in theTenant/Buyer north markets. Address Crown Holdings* Innovive HITEC Sensor Solutions Monogram Foods Kenworth Trucking TENANT *Renewal

Crown Holdings* Innovive

Featured Deal

14 Aegean Dri ve 129 Concord Road 10 Eli zabeth Dri ve 301 Ballardvale Street 118 Lumber Lane ADDRESS

City Size/$SF Methuen 85,000 Billerica 68,000 Chelmsford 33,750 NOTABLE TRANSACTIONS 23,206 Wilmington Tewksbury 16,500 CITY SIZE

14 Aegean Drive

Methuen

85,000

129 Concord Road

Billerica

68,000

NAI Hunneman's North suburban team represented the landlord with the execution of a full-building lease at 118 Lumber Lane in HITEC Sensor Solutions 10 Elizabeth Drive Chelmsford Tewksbury. NAI Hunneman's South suburban team represented the tenant, Kenworth Trucking, who was looking to establish a Monogram Foods 301 Ballardvale Street Wilmington location in the north markets.

Kenworth Northeast

118 Lumber Lane

Tewksbury

33,750 23,206 16,500

*Renewal Vacancy and Net Absorption

Class A&BARents CLASS & B RENTS $25

VACANCY AND NET ABSORPTION

1,000,000

16.0%

800,000 $20

600,000

12.0%

400,000 $15

200,000

$10

-200,000

0 -400,000

$5

DIRECT VACANCY

SUBLEASE VACANCY

12-MONTH ABSORPTION

LEASING ACTIVITY

ASKING RENT

STATISTICS

OVER THE LAST 12 MONTHS

www.NAIHunneman.com

4.0%

-600,000 -800,000

$0 Q4 2014

Q1 2015

Route 128 North

303 Congress Street | Boston, MA 02210 | 617.457.3400

8.0%

Q2 2015

Q3 2015

Q4 2015

Q1 2016

Route 128 Northwest

Q2 2016

Q3 2016

Q4 2016

Q1 2017

Route 495 North

Q2 2017

Q3 2017

Q4 2017

Route 495 Northeast

Submarket Trends - Over the last five years, vacancies in the Route 128 North submarket declined by nearly 900 basis points, reaching one of the lowest levels in the metro, and net absorption totaled roughly 2.7 million square feet. - The 145,000-square-foot 5 5th Street in Peabody came online in the fourth quarter of

-1,000,000

0.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 Net Absorption

Vacancy

303 Congress Street | Boston, MA 02210 | 617.457.3400 www.NAIHunneman.com