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Conveniently located between Boston and Providence, with excellent highway access to and from Greater Boston, Central Massachusetts and the entire Southern New England region via Interstates 495 and 95, the 495/South submarket emerged as popular, though still small commercial location in the mid-1980s.  Towns in the submarket include Foxboro, Franklin, Lakeville, Mansfield, Milford, Millis, North Attleboro, Norton, Raynham, Taunton and Wrentham.
The market is home to many warehouse, distribution, and manufacturing facilities and has a high availability of undeveloped land, as well as quality, low-cost and large R&D and industrial facilities.

The 495/South office market, which has struggled to gain leasing traction for much of the year, rallied in the fourth quarter to net 49,862 square feet of positive absorption. The fourth quarter rally also brought year end net absorption up to 28,616 square feet after being negative through the first three quarters of the year.

One new building was delivered to the market during the quarter. 1 Patriot Place in Foxborough, a 65,295-square-foot, Class A office building was completed approximately 41 percent preleased. The building is adjacent to Gillette Stadium, home of the New England Patriots, and is part of the larger 1.3 million-squarefoot Patriot Place retail and entertainment complex. The building contains 21,765 square feet of retail space on the first floor. For the year, the 495/South office market added 170,545 square feet of new supply and there are currently no new buildings under construction.

LEASE

Industrial Defender

2 Chestnut Green, Foxborough

19,596 SF

Relocation

Caritas Norwood Hospital

3 Chestnut Green, Foxborough

12,015 SF

Relocation