Greater Boston Industrial Market Suffers Deceleration in Activity 

Greater Boston’s industrial market experienced a slowdown in activity in June compared to its previous rapid pace, with negative absorption of approximately 1,000,000 square feet year-to-date, according to the Boston Industrial Market Report published by Hunneman.  

This deceleration in activity reflects a shift in the market dynamics. Despite this, the region continues to attract significant leasing and development interest, indicating sustained demand for industrial space. The introduction of new spec deliveries, such as the distribution spaces at 40 Lackey Dam Road in Uxbridge and 900 Bedford Street in Bridgewater, contributes to the overall market growth. However, the cooling of the cGMP market is evident, as evidenced by the vacant 140,000 square feet cGMP space on Middlesex Turnpike in Bedford.  

Although macro-economic concerns exist, demand for quality industrial space remains strong, including Cardinal Health’s lease at 80 Pine Hill Drive in Boylston and Electric Hydrogen’s occupancy at 33 Jackson Road in Wellesley.