In the fourth quarter of 2023, CBRE’s Industrial Figures Q4 2023 reported that the Greater Boston industrial market, including the Worcester Metro, maintained its strong fundamentals despite global and domestic unrest. Newly constructed speculative properties saw robust leasing activity.
Year-to-date leasing activity for Greater Boston and Worcester exceeded 11.84 million square feet, comparable to record-breaking transaction volumes in previous years (13.49 million square feet leased in 2021 and 11.91 million square feet leased in 2022).
The sustained demand for industrial space is driven by a variety of tenants such as life science-related users, robotics groups, and high-technology companies. This diverse tenant landscape combined with consistent core demand for spaces under150000squarefeet will likely result in steady leasing activity throughout2019.
The article “Boston Industrial Market Shows Strong Fundamentals” was originally published on Connect CRE.
