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Disruption 2020 - Q3 Industrial Update

Author: Dion Sorrentino

By Dion Sorrentino | October 2020

The Greater Boston Industrial market continues to buck the trend of office, posting another up quarter in Q3. With solid absorption, continued development, and sustained rental rates, industrial joins lab as the top performing asset classes in the region.

  • Disruption2020_Industrial-ImageGreater Boston saw nearly 450,000 SF of positive industrial absorption in Q3, this brings vacancy to 8.5% for the market besting Q2, a 15-year low.

  • Aggregate rental rates have held steady with both direct and sublease availabilities hovering at the $10 mark as the market average.

  • Amazon makes new headlines as they pursue a second site in Revere, targeting a movie theater conversion; with this venture and talks with Simon Property Group to take over JCPenney and Sears spaces, retail to industrial conversions are beginning to gain momentum.

  • Development activity continues throughout the market as both new construction and renovation projects push ahead to match demand.

  • Industrial sales activity remains strong as numerous properties traded in Q3; the strong and sustained fundamentals of the Boston industrial market continue to draw investment interest.

     

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