July 25, 2007
Despite vacancy, industrial market stable
By Matthew L. Brown
Commercial real estate broker Richards Barry Joyce & Partners says the market for warehouse and manufacturing properties is stable despite relatively high vacancy during the second quarter.
According to an RBJ industrial market status report, vacancy among warehouse properties along I-495 stood at 17.1 percent at the end of the second quarter.
Contributing to that rate was a 21.3 percent vacancy rate around what RBJ calls the western section of I-495.
Manufacturing properties around I-495 were 22.5 percent vacant by the end of the quarter, RBJ said, with the I-495 South claiming 35.6 percent vacancy.
Throughout the greater Boston area, warehouse and manufacturing tenants left a total of 131,000 square feet of space during the second quarter, RBJ said.
The strongest area for the industrial market during the quarter was the Route 128 south area, which has seen four straight quarters of demand, 8 percent vacancy and landlords raising rents 21 percent in the last year, RBJ said.
According to an RBJ industrial market status report, vacancy among warehouse properties along I-495 stood at 17.1 percent at the end of the second quarter.
Contributing to that rate was a 21.3 percent vacancy rate around what RBJ calls the western section of I-495.
Manufacturing properties around I-495 were 22.5 percent vacant by the end of the quarter, RBJ said, with the I-495 South claiming 35.6 percent vacancy.
Throughout the greater Boston area, warehouse and manufacturing tenants left a total of 131,000 square feet of space during the second quarter, RBJ said.
The strongest area for the industrial market during the quarter was the Route 128 south area, which has seen four straight quarters of demand, 8 percent vacancy and landlords raising rents 21 percent in the last year, RBJ said.
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