Jones Lang LaSalle estimates a decline of 259,000 sf YTD in a review of 11.5 million sf. Cushman & Wakefield puts the mark at minus-133,000 on a like amount, while Grubb & Ellis has Route 128 South absorption down by 105,000 sf in its survey of 9.4 million sf.

"The first quarter was incredibly slow," accedes C&W senior director JP Plunkett, who covers the southern district with colleague Catherine Minnerly. Plunkett, however, insists the lull is temporary, partly a result of the market's robust 2006 campaign. So many transactions were concluded in the fourth quarter, little was left to carry over into 2007, according to Plunkett, advising that the second frame showed more steam, especially during May. June cooled down, he says, and the bifurcated July 4th holiday has inordinately disrupted deal flow, but Plunkett tells GlobeSt.com that listings are up and velocity appears encouraging going forward. "The leasing market is fine," he says. "It's just not wild like it has been, but it will pick up."

Among the few winners to date in 2007 appears to be Braintree's Granite Woods Corporate Center, a two-building, 167,000-sf office park that underwent a multimillion renovation after being purchased last year by the Campanelli Cos. The locally based firm has kicked off the second half of 2007 by finalizing another lease at Granite Woods. The Visiting Nurses Association has opted to relocate from Boston into more than 11,000 sf at Building One, director of leasing Peter Brown has announced. Not including a pending lease for another 16,000 sf, Campanelli has already completed 120,000 sf in leases at Granite Woods during the last six months. The biggest coup occurred in the spring when Campanelli landed Traveler's Indemnity Insurance Co. for a 40,000-sf lease in Building One.