News
INDUSTRIAL GETS STOKED
April 27, 2011
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| Massachusetts isn't the industrial powerhouse it once was, of course, but its more modest industrial property sector had a good run in Q4 '10 and Q1 ?11, Cassidy Turley's chief economist Kevin Thorpe tells us. Together, they posted 1.1M SF of positiveabsorption. The last time Boston posted back to back quarters like that was ?99/?00. The slowly falling vacancy rate was 15.6%last quarter. Tenants leasing are for the most part in consumer products like electronics, furniture, and appliances. Others are like NFI, a supply chain solutions company, which recently leased 135k SF for a distribution center at 66 Saratoga Blvd in the Devens Industrial Park, above. Kevin says the leasing vitality directly reflects job growth and the brightest submarkets are around Route 495/Route 128 south. |
