Average Rents

8/6/2019 Average Rents

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ENTS R

225 Franklin Sree Boson, MA 02110 • (617) 951-4100 • www.lpcboson.com

Boston OfficeBoston Office

Q2 2011

VERAGEA



ResearchQ2 20

Renal raes, and heir lucuaions, are maybe he mos imporan

indicaors o he healh o a marke. Developmen projecs, invesmen

aciviy and corporae coss are all ied o how renal raes are adjusing

o economic condiions. Vacancy and unemploymen levels are cerainly

imporan acors when sudying commercial real esae condiions;

however, renal raes are wha can make or break a budge. As mos real

esae expers would aes o, i he pricing doesn’ work, han he deal

shouldn’ happen. I is or his reason ha Lincoln Propery Company

Boson has dedicaed a condensed bi-quarerly repor o addressing he

average asking rae rom a submarke and individual ciy level o explore

which areas o he Greaer Boson oice marke are improving, versus

hose ha are slipping. Some ciies have a limied supply or may be well

leased; hereore hese were omied due o a lack o daa. I his repor

does no address a Massachuses ciy you are ineresed in, please conac

one o Lincoln Propery Company’s leasing represenaives and hey will

gladly assis you.

Inroducion

For Greaer Boson he average asking rae or oice space declined by

3.1 percen rom Q2 2010. Despie he overall negaive rend, he leading

markes o Boson, Cambridge and Roue 128 Wes have eiher increased

or measured only a sligh decrease in heir average rens. Looking more

closely, he submarkes o he Financial Disric, Back Bay, Eas Cambridge

and he ciy o Walham have all rebounded nicely since heir rens all hi

boom in 2010. On he oher hand, Inersae 495 coninued o be plagued

by ren decreases. These submarkes have undergone a loss o enancy

since mid-2010 due o beer opions available along Roue 128 and

inward. Unorunaely or Inersae 495, his rend is quie common aer

he Greaer Boson marke experiences a depression in rens. Thereore,

rens along Inersae 495 are expeced o lag is closer in neighbors by 2 o

4 quarers in ren recovery. Overall, he Greaer Boson oice marke has

hi boom and has begun o recover. Incremenal growh is orecased or

he Greaer Boson oal average asking rae in he remaining wo quarers

o 2011.

Execuive Summary Lincoln Propery Com

225 Franklin Sree, 23rd F

Boson, MA 0(617) 951-

www.lpcboson

Congraulaions o he Boson Bruins



ResearchQ2 20

Cambridge

Boson

Inner Suburbs

128 Norh

495 Norheas

495 Souh

Roue 3 Norh

Mass Pike Wes

Roue 2 Wes

128 Souh

128 Wes

Submarke View

Toal Greaer Boson

Q2 2010: $26.88/RS

Q2 2011: $26.05/RS

% Change: -3.1%

Greaer han 5%

Greaer han -5%

Beween 2% and 5%

Beween 0% and 2%

Beween -2% and -5%

Beween 0% and -2%

Measured Ren Growhrom Q2 2010 o Q2 2011

$10

$15

$20

$25

$30

$35Toal Greaer Boson Rae

'10'09'08'07'06

$/RSF



ResearchQ2 20

Boson & Cambridge

Town Price/RSFYear-Over-Year

Change

Boston $39.27 -0.6%

Financial Disric $42.21 0.3%

Back Bay $40.06 3.7%

Seapor $37.40 -3.5%

Charlesown $27.05 -2.1%

Norh Saion $25.92 -3.1%

Midown $23.71 2.0%Souh Saion $23.32 -10.6%

Cambridge $35.10 -1.0%

Eas Cambridge $40.88 11.9%

Mid Cambridge $38.18 8.1%

Wes Cambridge $28.49 -12.7%

Boson

Cambridge

The Boson oice marke’s average asking rae ell slighly in early 2011

o he relaively limied negaive ne absorpion recorded in each subma

However, he delivery o Alanic Whar caused a ripple eec o neg

ne absorpion in he Financial Disric ower marke, conribuing o

year-over-year negaive 900,000 square ee o absorpion measured in

submarke. Forunaely, he addiional vacancy did no negaively inlu

he average asking rae in he Financial Disr ic. The rae has seadily impr

due o view-space pricing since mid-2010. In he Back Bay, he vacancy

dropped below 5 percen a he end o Q2, bu he availabiliy o ower s

has shrunk. Alhough he submarke was he healhies, he space avai

here will no drive rens wih much velociy.

Six Monh Projecion: Moderae Increase

The Cambridge oice marke observed a sligh decrease in he weig

average asking rae due o he square ooage available in he inerior subma

Wes Cambridge. Boh Eas and Mid Cambridge have displayed rapid

growh since 2010 due o he increased leasing velociy in boh subma

and he scheduled conversion o oice buildings o lab. The vacancy or

wo markes si righ below 7 percen, whereas Wes Cambridge calcu

a rae o 17.2 percen a he conclusion o he second quarer. Blacksmarke sraegy or he newly purchased roubled Wes Cambridge build

125/150 Cambridgepark Drive, will surely drive he overall ren here

i accouns or over 2/3

o oal vacancy in ha submarke. Addiional

growh is orecased or Eas and Mid Cambridge due o he employmen

venure capial g rowh measured in hose submarkes.

Six Monh Projecion: Rapid Increase

-3.0%

-2.5%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0% Quarer-Over-Quarer Change in Tenan Demand

'14'13'12'11'10'09'08'07'06'05'04'03'02'01'00

Tenan Demand

Source:

As he graph displays, modes enan

demand is orecased or Greaer Boson

oice produc. Employmen has perked

up in 2011, bu he orecas or demand

has been downgraded over he las six

monhs o a slower, more incremenal

pace han a he conclusion o 2010.



ResearchQ2 20

128 North $20.01 -0.8%

Burlingon $23.00 2.1%

Wakeield $20.35 1.8%

Woburn $20.09 -0.7%

Wilmingon $19.50 0.0%

Lynnield $18.51 5.7%

Beverly $18.41 6.5%

Soneham $17.81 6.2%

Peabody $17.10 -4.0%

Danvers $16.54 -0.3%

Lynn $15.50 -3.1%

Salem $13.83 -1.6%


Change

128 West $23.62 2.5%

Wellesley $31.11 0.7%

Brookline $29.00 -4.1%

Lexingon $24.76 0.6%

Walham $24.43 3.8%

Newon $23.21 2.0%

Waerown $22.20 -3.5%

Needham $22.12 -2.7%

128 South $19.00 1.4%

Weswood $24.70 3.3%

Dedham $20.80 -0.3%

Quincy $20.03 3.4%

Rockland $19.33 -3.4%

Norwood $18.36 0.2%

Norwell $18.13 2.5%

Brianree $18.03 2.2%

Weymouh $17.00 -8.1%

Brockon $16.50 4.3%

Canon $16.18 -4.4%

Randolph $14.67 -14.2%

Roue 128

128 Wes

128 Norh

128 Souh

Due o some signiican leasing compleed a he newly consruced build

in Roue 128 Wes, he vacancy rae has recenly decreased and renal r

have begun o increase. Walham, he ciy wih he mos newly deliv

produc measured he greaes improvemen in rens a 3.8 percen,

sill remains a lower rae han Wellesley and Lexingon, boh o which

exhibied increases. Newon’s average asking ren grew o $23.21 per sq

oo due o he ren growh calculaed along Washingon Sree. Needh

average asking ren ell slighly since he Highland Avenue properies aver

only slighly above he overall average o $22.12 per square oo. Ren gro

is expeced o coninue or Class A heavy municipaliies as enans upg

space.

Six Monh Projecion: Moderae Increase

Alhough he Roue 128 Norh marke ell slighly in a year-over

comparison, he growh measured in Burlingon and Wakeield bodes we

uure ren growh. The submarke’s vacancy rae has allen year-o-da

18.2 percen, bu ha rae remains higher han boh he Wes and Souh R

128 submarkes. Signiican vacancy was measured in Wilmingon (ove

percen) and Peabody (44.7 percen) a he conclusion o Q2; hus aec

ren growh in hose owns. Alhough Woburn displayed a sligh decr

in he average asking rae, he own’s vacancy rae sa below he submaaverage a jus over 16 percen. Beverly and Soneham calculaed renal

growh since vacancy remained below he submarke’s rae and sublease s

was very limied.

Six Monh Projecion: Sligh Increase

Roue 128 Souh’s oice marke undamenals remained relaively healh

he conclusion o he second quarer wih vacancy a 16.1 percen and lim

uure availabiliy measured in he submarke. However, in erms o growh, he submarke hisorically moves a a slower pace han is wes

and norhern Roue 128 neighbors. Posiive ren growh was observed in

ollowing ciies since heir vacancy raes were lower han he submark

Quincy (13 percen vacan), Weswood (13.6 percen) and Brockon (

percen). Canon and Randolph boh measured a drop in he average

due o heir high vacancy raes: 23.5 and 38.7 percen respecively. Brain

ren grew by 2.2 percen, alhough he vacancy rae recorded in ha ciy

slighly higher han he submarke’s a 16.7 percen.

Six Monh Projecion: Neural



ResearchQ2 20


Change

495 Mass Pike $17.69 -4.2%

Framingham $19.07 -2.4%

Wesborough $18.21 1.4%

Naick $17.23 -0.3%

Souhborough $16.91 -7.3%

Marlborough $16.77 -6.4%

Route 2 West $15.94 -5.2%

Concord $18.50 0.2%

Wayland $17.25 -2.8%

Boxborough $16.75 -2.9%

Acon $15.68 -2.2%

Lileon $14.90 12.5%Maynard $13.17 5.4%

Route 3 Nor th $17.57 -2.6%

Bedord $20.25 0.8%

Chelmsord $18.33 -1.6%

Tewksbury $18.05 -0.3%

Billerica $16.25 -2.9%

Lowell $16.00 -2.6%

495 Mass Pike

Roue 2 Wes

Roue 3 Norh

Inersae 495

Like all he Inersae 495 submarke, 495 Mass Pike’s average asking

ell year-over-year by over 4 percen o o woes rom Fideliy’s Marlboro

campus and deauling properies. The oal availabiliy rae o he 495 M

Pike submarke was 26.1 percen a he conclusion o he second quare

Marlborough, he oal availabiliy soared o 35.9 percen due o he Fidel

announcemen ha hey will vacae he marke, which sen he average

down o $16.77 per square oo. Framingham also measured a decline du

is vacancy rae o 17 percen, which sa above he submarke’s 16.1 per

vacancy rae as o Q2. Alhough Souhborough’s vacancy rae was a hea

12.4 percen as o Q2, a ew buildings have experienced a rapid enan vaca

ha has resuled in special serv icer involvemen and a subsequen declin

rens.


Sublease space in Inersae 495 Roue 2 Wes remained above 6 percen a

end o he second quarer, he highes sublease rae o all he Greaer Bo

submarkes. Typically considered one o he leas expensive submarkes in

Boson suburbs, Inersae 495 Roue 2 Wes lived up o is ex pecaions

a measured rae o $15.94 per square oo, making i he mos econom

opion in all o Greaer Boson. Acon measured a decline in is average as

rae since he vacancy rae in ha ownship measured 43.8 percen, resul

in a average ren o $14.90. On he oher hand, Concord’s rae grew sligdue o is vacancy rae o 4.2 percen, which is signiicanly lower han

submarke’s overall vacancy rae o 24.6 percen as o Q2.


Aer losing Dassaul Sysemes o Walham las year, he Roue 3 N

submarke’s vacancy has increased and he average asking rae has decrea

The French soware company moved rom CrossPoin in Lowell, where vacancy rae measured 25.1 percen a he close o Q2, which sa above

submarke oal vacancy rae o 18.6 percen. Bedord, he recen winne

Acme Packe’s requiremen, held a vacancy rae o 11.2 percen, well below

submarke’s oal. Tha ownship holds he highes average asking rae al

Inersae 495 a $20.25 besides R aynham in 495 Souh. Technology en

are expeced o coninue o lease space in Roue 3 Norh as he recov

coninues, crowning i he sole Inersae 495 submarke wih a posiiv

monh oulook.

Six Monh Projecion: Sligh Increase



ResearchQ2 20


Change

495 South $17.62 -5.7%

Raynham $22.33 8.9%

Foxboro $18.00 -10.6%

Franklin $17.75 0.0%

Mansield $17.42 1.7%

495 Souh

495 Norheas

495 Northeast $16.87 -5.3%

Andover $18.13 -4.7%

Norh Andover $12.50 -18.70

Inersae 495 Souh’s average asking rae ell by over 5 percen year-

year due in mos par o he gain in vacancy in he irs hal o 2011 o

submarke’s larges ownship, Foxboro. The oal vacancy rae in he Iner495 Souh submarke was over 23 percen, bu Foxboro’s was well abov

percen a he conclusion o Q2. The amoun o space now vacan in Fox

resuled in he average asking rae’s 10+ percen decrease year-over-year.

Raynham and Mansield measured growh in heir average asking rae

o he below marke vacancy recorded in hose owns in he second qua

9 percen and 21.4 percen respecively. Overall, no much movemen i

average ren is anicipaed in he second hal o 2011 as leasing veloci

oice space along 495 Souh remains limied.

Six Monh Projecion: Sligh Decrease

Wih only wo owns covering over 85 percen o he Inersae 495 Nor

submarke (Andover and Norh Andover combine or a oal over 3 m

square ee. The oal square ooage racked by LPC in 495 Norheas i

over 3.5 million). In Norh Andover, raes have allen o beween $10.

$15.00 per square oo along Turnpike Sree, hus resuling in he $1

average ren and subsequen 18.7 percen year-over-year decline. In And

he vacancy rae o 25.8 percen recorded in he second quarer was

slighly lower han he submarke’s average o 26.7 percen. Overall

decrease in rens in he Inersae 495 Norheas submarke are primarily

o he high vacancy rae and he lack o enan aciviy.

Six Monh Projecion: Sligh Decrease

-2.0

-1.5

-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Interstate 495Route 128CambridgeBoston

Q4 2015Q2 2015Q4 2014Q2 2014Q4 2013Q2 2013Q4 2012Q2 2012Q4 2011

Quarer-Over-Quarer Projeced Ren GrowhSource: PPR

%



ResearchQ2 20

$0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00

$0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00

Norh AndoverMaynard

SalemRandolph

Lynn AconLowell

CanonBillericaLitleon

BrockonDanvers

BoxboroughMarlborough

SouhboroughPeabody

Naick Wayland

MansfeldFranklin

SonehamFoxboro

BrainreeTewksbury

Norwell Andover

WesboroughChelmsord

NorwoodBeverly

ConcordLynnfeld

FraminghamRockland

WilmingonQuincy

WoburnBedord

WakefeldDedham

HinghamNeedham

WaerownRaynham

BurlingonNewon

Walham WeswoodLexingonBrookline Wellesley

CambridgeBoson

$24.76

$20.03

$18.00

$16.00

Comparing Average Rens

Top 20 Class A & B Average Ren

Financial Disric $46.18

Back Bay $44.85

Seapor Disric $44.67

Eas Cambridge $42.32

Mid Cambridge $39.67

Wellesley $32.81

Brookline $30.50 Wes Cambridge $29.13

Newon $27.63

Walham $27.05

Weswood $26.25

Midown $26.00

Lexingon $25.61

Charlesown $25.50

Needham $25.40

Dedham $24.25

Burlingon $24.11

Wakefeld $23.38

Bedord $22.17

Woburn $21.58

Mid Cambridge $33

Back Bay $33

Weson

Eas Cambridge $29

Wellesley

Financial Disric $28

Charlesown $27Brookline $27

Seapor Disric $27

Souh Saion $26

Norh Saion $25

Wes Cambridge $

Midown $23

Lexingon $23

Waerown

Newon $22

Raynham $22

Walham

Hingham $22

Burlingon $20

Class A Class B

In $/RSF Gross

2

1

06

5

3

8

4

2

0

9

8

8

5

7

9

43

0

6

7

1

3

7

0

2

5

2

6

9

5

1

3

7

0

3

4

6

4

4

1

9

n Posiion/10 Posiion

All Rens /RSF



ResearchQ2 20

Ciy Submarke Q2 2010 Q2 2011 % Change

Acon Roue 2 Wes $16.03 $15.68 -2.2%

Andover 495 Norheas $19.02 $18.13 -4.7%

Back Bay Boson $38.64 $40.06 3.7%

Bedord Roue 3 Norh $20.08 $20.25 0.8%

Beverly 128 Norh $17.29 $18.41 6.5%

Billerica Roue 3 Norh $18.13 $16.25 -10.4%

Boxborough Roue 2 Wes $17.25 $16.75 -2.9%

Brainree 128 Souh $17.65 $18.03 2.2%

Brockon 128 Souh $15.82 $16.50 4.3%

Brookline 128 Wes $30.25 $29.00 -4.1%

Burlingon 128 Norh $22.52 $23.00 2.1%

Canon 128 Souh $16.93 $16.18 -4.4%

Charlesown Boson $27.63 $27.05 -2.1%

Chelmsord Roue 3 Norh $18.63 $18.33 -1.6%

Concord Roue 2 Wes $18.46 $18.50 0.2%

Danvers 128 Norh $16.59 $16.54 -0.3%

Dedham 128 Souh $20.86 $20.80 -0.3%

Eas Cambridge Cambridge $36.55 $40.88 11.9%

Financial Disric Boson $42.08 $42.21 0.3%

Foxboro 495 Souh $20.13 $18.00 -10.6%

Framingham 495 Mass Pike $19.53 $19.07 -2.4%

Franklin 495 Souh $17.75 $17.75 0.0%

Hingham 128 Souh $23.00 $22.00 -4.3%

Lexingon 128 Wes $24.61 $24.76 0.6%

Litleon Roue 2 Wes $13.25 $14.90 12.5%

Lowell Roue 3 Norh $16.42 $16.00 -2.6%

Lynn 128 Norh $16.00 $15.50 -3.1%

Lynnfeld 128 Norh $17.52 $18.51 5.7%

Mansfeld 495 Souh $17.13 $17.42 1.7%

Marlborough 495 Mass Pike $17.92 $16.77 -6.4%

Maynard Roue 2 Wes $12.50 $13.17 5.4%

Midown Boson $23.24 $23.71 2.0%

Mid Cambridge Cambridge $35.31 $38.18 8.1%

Naick 495 Mass Pike $17.28 $17.23 -0.3%

Needham 128 Wes $22.74 $22.12 -2.7%

Newon 128 Wes $22.75 $23.21 2.0%

Norh Andover 495 Norheas $15.38 $12.50 -18.7%

Norh Saion Boson $26.76 $25.92 -3.1%

Norwell 128 Souh $17.68 $18.13 2.5%

Ciy Submarke Q2 2010 Q2 2011 % Ch

Norwood 128 Souh $18.33 $18.36 0.2

Peabody 128 Norh $17.81 $17.10 -4.0

Quincy 128 Souh $19.38 $20.03 3.4

Randolph 128 Souh $17.10 $14.67 -14

Raynham 495 Souh $20.50 $22.33 8.9

Rockland 128 Souh $20.00 $19.33 -3.4

Salem 128 Norh $14.05 $13.83 -1.

Seapor Disric Boson $37.40 $36.08 -3.

Souhborough 495 Mass Pike $18.25 $16.91 -7.

Souh Saion Boson $26.08 $23.32 -10

Soneham 128 Norh $16.77 $17.81 6.2

Tewksbury Roue 3 Norh $18.11 $18.05 -0.

Wakefeld 128 Norh $19.99 $20.35 1.8

Walham 128 Wes $23.53 $24.43 3.8

Waerown 128 Wes $23.00 $22.20 -3.

Wayland Roue 2 Wes $17.75 $17.25 -2.

Wellesley 128 Wes $30.90 $31.11 0.7

Wesborough 495 Mass Pike $17.96 $18.21 1.4

Weswood 128 Souh $23.90 $24.70 3.3

Wes Cambridge Cambridge $32.64 $28.49 -12

Wilmingon 128 Norh $19.50 $19.50

Woburn 128 Norh $20.23 $20.09 -0.7

Average Rens by Ciy

Submarke Marke Q2 2010 Q2 2011 % Ch

Boson Boson $39.50 $39.27 -0.

Cambridge Cambridge $35.46 $35.10 -1.0

128 Wes Roue 128 $24.24 $24.84 2.5

128 Norh Roue 128 $20.18 $20.01 -0.

128 Souh Roue 128 $18.74 $19.00 1.4

495 Mass Pike Inersae 495 $18.46 $17.69 -4.2

Roue 2 Wes Inersae 495 $16.82 $15.94 -5.2

Roue 3 Norh Inersae 495 $18.04 $17.57 -2.

495 Souh Inersae 495 $18.68 $17.62 -5.7

495 Norheas Inersae 495 $17.05 $16.14 -5.

Toal $26.88 $26.05 -3.

Submarke Toals

All he above weighed average renal raes are derived rom quoed raes provided by he leasing eniy on he asses Lincoln Propery Company racks. All raes are gross (excluding enan elecriciy) and he weighed averages exclude sublease asking raes.



ResearchQ2 20

INCOLNINCOLNL PDATESPDATESU

LPC Thanks

For awarding Lincoln Propery Company’s downown

brokerage and managemen eam wih he 38 Chauncy Sree in

Boson assignmen.

2011 Recen ly Compleed L eases/Sales

Esdaile, Barret & Esdaile

7,600 RSF

75 Federal Sree, BosonTenan Rep. - Robero Magno, CPA

Latice Engines

8,100 RSF

85 Devonshire Sree, Boson

Landlord Rep. - Robero Magno, CPA & Brendan Miller

Taylor & Parners

2,300 RSF

77 Summer Sree, BosonTenan Rep. - Brian Smallman

Peregrine Financial Corporaion

2,300 RSF

84 Sae Sree, BosonLandlord Rep. - John D. Miller & Jerey C. Moore

& Brendan Miller

Beckwih Realy LLC

177,350 RSF (Sale)30 Indusrial Way, Wilmingon

Landlord Rep. - Gregory H. Cahill & Rob Cronin

Shore Educaional Collaboraive

20,000 RSF

10 Forbes Road, Brainree

Landlord Rep. - Ellison Paten

Broadview Neworks

10,800 RSF

Presidens Place, Quincy Landlord Rep. - Ellison Paten

Abou Women by Women

7,000 RSF

30 Washingon Sree, Wellesley Tenan Rep. - Kevin P. Malloy & Tim Laham

Cambridge

Boson

1 propery: 277,800 RSF

3 properies: 287,000 RSF




29 properies: 4,196,600 RSF

Leasing

Managemen

Leasing & Managemen

Roue 495

Roue 128

Inner Suburbs

Cambridge

Boson

PC in MA



ResearchQ2 20

617) 951-4100 • www.lpcboson.com

All inormaion provided in Lincoln Propery Company’s Average Raes repor are rom sources deemed reliable, bu no warrany or represenaion is made as o is accuracy hereo and same is submited subjec o errors, omissions, or oher

condiions.

Lincoln Propery Company’s Average R aes repor is p roduced by he Boson O ice’s research eam

in collaboraion w ih our Downown and Suburban Brokerage Group. I you have any quesionsregarding marke condiions and he in ormaion ound in hi s repor, pl ease conac Sco D. Faber

Direcor o Research a [email protected].

ERMINOLOGYERMINOLOGYT Asking Rental Rate: he dollar per square oo amoun hais quoed by he eniy ha is represening he space beingmarkeed.

Deliveries: newly compleed produc ha was recenly underconsrucion or renovaion ha are available or immediaeoccupancy .

Direct: space ha is markeed on behal o he Landlord.

Flex: produc ha is capable o hosing enans ha vary inheir use o commercial real esae. Including oice, lab, R&D, warehouse, manuacuring and disribuion enans.

Free Rent: he ime period he enan does no have o pay any ren, which is agreed upon by he enan and landlordduring lease negoiaions.

Net Absorption: he change in direc vacancy over ameasured ime rame. Includes newly delivered produc ready or occupancy, bu does no include sublease.

Sublease: space ha is markeed on behal o he currenTenan.

Tenant Improvements (T.I.): ypically a dollar per squareoo amoun negoiaed during he lease ransacion ha ispaid o a enan by he landlord, or sublandlord, or he meanso improving he condiion o he agreed upon space.

Total Availability (A.K.A. Overall Availability): all spaceha is available or lease. Includes markeed occupiedspace, sublease, and produc under consrucion ha will bedelivered wihin wo (2) years.

Vacant Available: all space ha is currenly available o leaseand immediaely occupy; hereore, space ha is no hosinga enan. Unoccupied space wih a uure commimen areexcluded.

Weighted Average Rent : he average o all asking rens

recorded or a paricular se o buildings wih each recordedren holding a level o inluence based on he oal squareooage o direc availabiliy (no sublease) markeed underhe rae surveyed.

Date post:	07-Apr-2018
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