SEO-friendly content: Cushman & Wakefield recently released its second-quarter statistics for warehouse/distribution and office properties in Boston, indicating a slowdown in leasing activity across both sectors. Warehouse/distribution leasing activity recorded 689,000 square feet of new demand during the quarter, falling short of the first quarter’s total by nearly 500,000 square feet. The market saw 13 lease renewals and five leases greater than 100,000 square feet while recording nearly 338,000 square feet of positive net absorption over the same period.
Overall vacancy increased to 13.9%, representing the highest point seen this economic cycle; meanwhile sublease space availability hit a record high with 9.3 million square feet available on the market at present time. Asking rents slightly decreased for Class A and B properties within Boston Central Business District (CBD) as construction activity remained active with 4305952 sq ft currently under development in CBD area alone .
