Home > Press Releases > RBJ Releases indSTATus — Research report on Greater Boston industrial market

RBJ Releases indSTATus — Research report on Greater Boston industrial market

November 1, 2012 Leave a comment Go to comments

Richards Barry Joyce & Partners’ “indSTATus – Fall 2012” Report Shows Positive Absorption in Warehouse, Flex And Manufacturing Properties

BOSTON – November 1, 2012 – Greater Boston’s industrial property market posted a strong third quarter with 519,000 square feet of positive absorption, according to a new research publication from Richards Barry Joyce & Partners, LLC (RBJ&P).

The firm released indSTATus – Fall 2012, a quarterly report highlighting warehouse, flex and manufacturing property types. The absorption figure is the second highest tally in the last four years and marks the sixth consecutive quarter of positive gains in the industrial market.

“Greater Boston’s commercial real estate market closed a very strong quarter, taking into account results for both industrial and office properties,” said Brendan Carroll, senior vice president of research for Richards Barry Joyce & Partners.  “A concrete example of the confidence in the industrial market was seen in the two new properties – flex and warehouse – that were completed during the third quarter, the first new property introductions in four years.”

Following are highlights from Q3 for each of the industrial property types.

The Warehouse market closed the quarter with vacancy of 19.4 percent, down 0.4 percent, on positive absorption of 327,000 square feet.  Asking lease rates were down $0.02 to $5.39.  Although the vacancy rate was down, the figure remains 2.5 percent higher than year-ago levels.

In the Flex market, vacancy was down 0.2 percent to 17.1 percent, with positive absorption of 173,000 square feet.  Asking lease rates were up $0.04 to $7.98.  Absorption in the flex market has been positive in eight of the past eleven quarters, a period during which occupancy has increased 668,000 square feet.

Vacancy dropped by 0.1 percent to 17.1 percent in the Manufacturing market, with 20,000 square feet of positive absorption.  Asking lease rates were down $0.06 to $6.36.  The manufacturing market is in the middle of a four-quarter streak of positive absorption, during which tenants have increased occupancy levels 387,000 square feet and lowered vacancy from 18.5 percent to 17.1 percent.

To request a copy of indSTATus – Fall 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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