Boston & New England + Boston + Industrial | January 25, 2023

Boston’s industrial market added more two million square feet of new industrial space during Q4 of 2022, according to Colliers report.

Boston Saw 2M-SF of Industrial Space Rise During Q4 2022, Rents Decrease a Tad

A Colliers report that examined the state of Boston’s industrial market found that more than two million square feet of new industrial space was built in the region during Q4 of 2022, underscoring the market as a key growth area.

Additionally, there is now 14 million square feet of new speculative projects tunderway. Rents decreased slightly coming off historical growth.

Additional Findings

Vacancy growth in the quarter had the largest increase in recent years, but the rate is still significantly below the 10-year average.
More than two million square feet of new product was built this quarter.
More speculative projects broke ground in the fourth quarter, bringing the total to more than 14 million square feet underway.

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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.