According to a new report by Transwestern, the Greater Boston industrial market posted strong gains during second-quarter 2015, with 410,000 square feet of positive net absorption.
"While not quite as strong as in some of our prior reporting periods, the industrial market maintained its positive momentum, reaching a fourth straight quarter of positive absorption," said Northeast Research Director Chase Bourdelaise. "Based on the related employment data, there's little reason to believe this won't continue."
Boston industrial market highlights include:
Warehouse - Tenants absorbed 435,000 square feet of space, lowering vacancy to 11.8 percent from 12.6 percent last quarter. During the past three years, the vacancy rate has dropped 8.0 percent. Asking lease rates remained stable at $5.69 per square foot in the second quarter.
Flex Space - Boston added 301,000 square feet of positive absorption during the second quarter, pushing vacancy down to 14.8 percent from 15.9 percent last quarter. Asking lease rates increased to $8.56. Tenants have absorbed 1.8 million square feet of flex space during the past three years.
Manufacturing - This segment of the market experienced negative 25,000 square feet of absorption, raising vacancy to 10.3 percent from 10.1 percent last quarter. Asking lease rates rose to $7.33. Despite the second quarter's negative absorption, the flex market has notched 558,000 square feet of positive absorption during the past 12 months.
The National Association of Home Builders' latest 55+ Housing Market Index is reporting this week that U.S. builder confidence in the single-family 55+ housing market dropped four points to 68 in the fourth quarter of 2019.
According to the Mortgage Bankers Association's newly released Mortgage Credit Availability Index (MCAI), U.S. mortgage credit availability decreased in December 2019.
The MCAI fell by 3.5 percent to 182.2 in December.
According to CoreLogic's latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas, data collected for October 2019 shows a national rent increase of 3.1% year over year, compared to 2.9% in October 2018.
According to new research from CBRE, U.S. retailers and shippers this 2019 holiday season will handle more returns than ever of goods bought online, illustrating a costly drawback to e-commerce's growth that the industry is working hard to contain.
Demand for design services in November 2019 increased at a modest pace for the second month in a row. During November, both the new project inquiries and design contracts scores were positive, posting scores of 60.9 and 52.9 respectively.
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