Supply Glut Hits High-End Logistics Market
Speculative construction of new industrial facilities has ground to a halt in Greater Boston, as lower tenant demand and overbuilding have created a glut of high-end space.
Speculative construction of new industrial facilities has ground to a halt in Greater Boston, as lower tenant demand and overbuilding have created a glut of high-end space.
At least one industrial real estate developer is having buyer’s remorse thanks to a slowdown in that sector.
Industrial leasing activity dropped 26 percent during the second quarter, confirming softening in the once-overheated Greater Boston market.
Vacancies rose to 7.2 percent in Greater Boston’s industrial market as leasing failed to keep pace with a strong development pipeline.