Friday, January 17, 2014, 12:06pm
The Greater Boston industrial real estate market absorbed four million square feet of space in the fourth quarter of 2013, according to a research report released by Transwestern RBJ.
The fourth quarter was the busiest for absorption since 2000. It was the 11th consecutive quarter in which the region’s industrial market had positive absorption, according to the indSTATus report. During that period, occupancy increased by 6.1 million square feet.
Warehouse vacancies declined to 14.2 percent from 15.6 percent during the quarter, while average asking lease rates rose 8 cents to $5.45.
Flex space vacancies declined to 16.9 percent from 17.6 percent during the quarter, with average asking lease rates up 8 cents to $8.29.
Manufacturing vacancies rose to 12.8 percent from 12.5 percent during the quarter, but average asking lease rates rose 15 cents to $6.55.