Home > Press Releases > RBJ Publishes Research Report On Greater Boston’s Industrial Real Estate Market — indSTATus

RBJ Publishes Research Report On Greater Boston’s Industrial Real Estate Market — indSTATus

January 24, 2013 Leave a comment Go to comments

“indSTATus – Winter 2013” Report Shows Second Consecutive Quarter Of Growth Across Warehouse, Flex And Manufacturing Properties

BOSTON – January 24, 2013 – Demand for industrial properties in the Greater Boston area remained strong in the final quarter of 2012, as the region closed its second consecutive quarter of growth, according to a new research publication from Richards Barry Joyce & Partners.

The firm has published indSTATus – Winter 2013, a quarterly report highlighting warehouse, flex and manufacturing property types.  Tenants absorbed 684,000 square feet of flex, manufacturing and warehouse-type industrial space in the second half of the year.

“It’s great to see a second consecutive quarter of absorption figures in the black for the industrial market,” said Brendan Carroll, senior vice president of research for Richards Barry Joyce & Partners.  “In particular, it’s good to have each property type in positive territory, as opposed to having one pull the others along.  Combined with improving local business confidence, there is reason for optimism for the industrial market in 2013.”

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

In the Warehouse market, vacancy was 19.3 percent (down from 19.4 percent), on positive absorption of 63,000 square feet.  Asking lease rates were down $0.05 to $5.34.  Available SF has dropped by 2.5 million square feet to 13.7 square feet, over the past three quarters, due in part to tenant expansion.

The Flex market closed the quarter at 16.9 percent vacancy (down from 17.1 percent), with positive absorption of 54,000 square feet.  Asking lease rates were up $0.08 to $8.06.  Vacancy levels have been very consistent since the “tech bust”, with 80 percent of quarterly vacancy values since 2005 falling in the range between 16.8 percent and 19.1 percent.

Vacancy dropped to 16.8 percent (from 17.1 percent) in the Manufacturing market, on 48,000 square feet of positive absorption.  Asking lease rates were down $0.09 to $6.27.  The manufacturing market has shown five consecutive quarters of positive absorption, yielding an increased occupancy of 435,000 square feet and a drop in the vacancy rate from 18.5 percent to 16.8 percent.

To request a copy of indSTATus – Winter 2013, 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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