Home > Press Releases > RBJ Releases Quarterly Research Publication Highlighting Greater Boston’s Industrial Market

RBJ Releases Quarterly Research Publication Highlighting Greater Boston’s Industrial Market

Firm’s “indSTATus – Summer 2012” Report Details Region’s Warehouse, Flex And Manufacturing Property Types

BOSTON – July 26, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, has published indSTATus – Summer 2012, a quarterly research publication highlighting Greater Boston’s industrial market – warehouse, flex and manufacturing properties.

According to the firm, the overall industrial market has continued the positive momentum generated during the past few quarters.  There was 63,000 square feet of positive absorption across Greater Boston in all three industrial property types, marking the fifth consecutive quarter of growth.  Notably, far more properties gained tenancy than lost tenancy during the quarter, though that result was countered by several one-time space consolidations that impact the overall absorption figures.

“We anticipate a continuation of this stretch of positive quarters for the industrial market,” said Brendan Carroll, senior vice president of research for Richards Barry Joyce & Partners.  “Institute for Supply Management data and Gross Domestic Product data suggest that the growth fundamentals seen in preceding quarters remain in place.  One challenge faced by prospective tenants is the market’s base of older properties – only three percent of industrial real estate has been constructed over the past eight years.”

Following are highlights from Q4 for each of the industrial property types.

In the Warehouse market, there was 19.8 percent vacancy (up 0.2 percent) and 118,000 square feet of negative absorption.  Asking lease rates were down $0.10 to $5.41 for the quarter.  Five one-time consolidations in the area account for more than 700,000 square feet of the negative absorption.

The Flex market closed the quarter with 17.3 percent vacancy, down from 17.6 last quarter, with positive absorption of 86,000 square feet.  Asking lease rates were up $0.30 to $7.94.  Positive second quarter demandmarked a first half during which 123,000 square feet was absorbed, with tenants driving increasing occupancy for the fourth quarter in five.

Vacancy dropped by 0.6 percent to 17.2 percent in the Manufacturing market, with 95,000 square feet of positive absorption.  Asking lease rates were down $0.13 to $6.42.  Vacancy has dropped to 17.2 percent from 18.5 percent during a three-quarter stretch of positive absorption in which tenants absorbed 368,000 sf.

To request a copy of indSTATus – Summer 2012, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications
indSTATus is one of RBJ&P’s family of ten quarterly research reports.  The firm also publishes a quarterly office report (officeSTATus) and individual marketSTATus reports on eight critical sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year, after the first and third quarters.  In total, RBJ&P produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.

 

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