The Greater Boston industrial market posted a strong second quarter in 2019, finishing with
725,373 sq. ft. of positive absorption. Both availability and vacancy decreased in Q2 to 9.2%
and 6.2%, respectively. Average asking rental rates stayed relatively flat for the quarter at $9.94 per sq. ft. triple net (NNN). Several major leases by international corporations paced the market, showing the strength of the Boston economy. Demand continued to outpace supply, with numerous renewals in Class A buildings demonstrating the lack of available large blocks of
quality space in the market.