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Boston & New England  + Metro Boston  + Industrial  | 
Greater Boston’s industrial market closed out 2022 with consistently strong fundamentals, concludes Newmark’s Boston Industrial Market Report 4Q22.

Boston Industrial Rallies to End 2022 with 12% Rent Increase, 1.7M SF Net Absorption

Greater Boston’s industrial market closed out 2022 with consistently strong fundamentals despite facing significant macroeconomic headwinds, concludes Newmark’s Boston Industrial Market Report 4Q22.

Findings of the global, full-service commercial real estate firm’s “Insights” report include:

*Leasing activity rallied from its third quarter deficit and ended the year with 1.7 million square feet of positive net absorption.

*Landlords remained bullish on rents, as the overall average asking rate realized a 12.3% uptick over the year.

*Several properties that experienced extended construction timelines delivered in the fourth quarter of 2022, providing much-needed supply to an otherwise tight market.

*The spike in deliveries caused overall vacancies to stabilize above 3.0% as well as quoted rents for the Class A Warehouse/Distribution subtype to decline.

*Demand continues to outpace supply for quality industrial product, which bodes well for the long-term health of the market.

*Capital markets felt the impact of interest rate volatility and investor uncertainty during the fourth quarter of 2022, as the average per-square-foot sales price dipped below $200/SF for the first time since the third quarter of 2021.

Download the report


Inside The Story

Newmark's Elizabeth Berthelette

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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