Market Reports

INDUSTRIAL MARKET OVERVIEW TY JANNEY, Managing Principal For the first time since 2009, the Greater Boston quarterly industrial vacancy rate increased from 3.9% to 4.3%. Rising inflation and interest rates coupled with a pause in early-stage life science demand are contributing factors to this change. 5.5 million SF of absorption and 7.5 million SF of new construction also represent 10-year highs, although the delivery of 3.8 million SF at Osgood Landing in North Andover this…

RETAIL MARKET OVERVIEW ROBERT ELMER, Managing Principal Retail in Greater Boston continues its rebound, with pockets doing extremely well. The supply constrained environment has kept vacancy below 3% resulting in upward pressure on rents despite lingering uncertainty, especially in the urban core where office occupancy is still well below pre-pandemic levels. Nonetheless, Dicks Sporting Goods’ recent lease of ~120,000 SF in the Prudential Center’s former Lord & Taylor space is a good sign for downtown…

OFFICE MARKET OVERVIEW ERIC SOLEM, Managing Principal | President Signs of volatility continue with another 1 million SF of sublease coming on the market in Boston’s CBD pushing available sublease space over 3.7 million. Meanwhile, big block tenants such as McKinsey & Company preleased 78K SF new construction at 115 Federal; HarbourVest agreed to lease over 205K SF vacated by State Street at One Lincoln; Eaton Vance finalized 280K SF at One PO Square; AstraZeneca…

Q2 2022 Boston, MA OFFICE MARKET OVERVIEW ERIC SOLEM, Managing Principal | President   Despite the turmoil in the financial markets in Q2 2022, demand levels for the Boston office market stayed constant. A significant number of leases signed, with over 90%, in Class A buildings and a significant portion of that occurring in brand new construction. Thus, the “flight to quality” movement continued to drive demand as the hybrid workforce model remains in favor…

Q2 2022 Boston, MA INDUSTRIAL MARKET OVERVIEW TY JANNEY, Managing Principal   Rising costs for land, construction materials and labor continue to drive upward pressure on industrial lease rates in the greater Boston market in the second quarter. Pre-leasing activity was announced at Centech Park North in Shrewsbury, MA (310,000 SF under construction) with SGPS Showrig, an entertainment equipment supplier, signing for 49,524 SF, demonstrating continued strong occupier demand. However, quarterly vacancy rates held steady…

The Q1 2022 Boston Market Reports for the Retail, Industrial and Office sectors are now available. CLICK HERE to access the reports.  

The 2021 Q2 Market Reports for the industrial, retail and office markets in Boston are now available.   INDUSTRIAL MARKET OVERVIEW TY JANNEY, Managing Principal With a vacancy rate of 4.5%, the lowest in 10+ years, Boston’s industrial market continues to soar with a 1M SF net increase in 12 mo. net absorption. These values explain the consistent growth in the market with increasing GMP conversion and high demand for “last mile” distribution. Read full…

The 2020 4Q market reports for Boston’s retail and office markets are now available.   For the 2020 4Q Industrial Market Report and to view previous reports, please visit our Research page.

Q4 20 Boston Industrial Market Overview by Ty Janney, Managing Principal Increased demand for last mile distribution services coupled with surging life science demand for “bio ready” industrial inventory were the headlining factors in Eastern MA industrial markets in 2020. This year, Amazon alone has leased over 2M SF in the greater Boston market capped by a 148,000 SF lease in Salem, MA in Q4. Read the full report here.

The 3Q Market Reports for Boston’s industrial and office markets are now available in the RESEARCH section of our website. CLICK HERE to get the latest information on these Boston markets.