The Greater Boston industrial market had a record setting quarter in Q3 2020, recording 944,175 sq. ft. of positive absorption. All three suburban markets experienced growth, demonstrating high demand for well-located industrial space. The overall availability rate and overall vacancy rate both reached historical lows in the third quarter of 2020.
Industrial demand has surged in recent months, largely due to a shift to increased inventory requirements for stockpiling and the continued rise of e-commerce. The e-commerce sector continues to drive the need for buildings with high ceilings, loading docks, ample parking and pavement, and quick access to major highway and transit systems.