Short on time? Here are the highlights of our third quarter Greater Boston Industrial MarketView. To request the full report, fill out the form at the bottom of this post.
The Greater Boston Industrial market sustained its momentum into the third quarter, recording almost 530,000 sq. ft. of absorption in Q3 2017 and over 1.6 million sq. ft. year-to-date. The outlook remains positive as strong rents, accompanied by declining availability and vacancy, continued through the third quarter.
Demand for industrial space closer to the city continued to increase, while some obsolete industrial product in the suburbs is under consideration for redevelopment. With urban rents increasing, companies have been looking to land close to the city along the Route 128 belt; however, due to tight space, some are being pushed out to the quieter Route 495 market.