Asking rents for industrial properties in Greater Boston hit record highs in the second quarter after a 27.5 percent increase in the past 12 months.
Greater Boston industrial rents spiked 4.4 percent in the second quarter as vacancies dipped below 5 percent, according to a brokerage report.
Online shopping and the deliveries it requires have surged during the pandemic, taking a toll on traffic, pollution and industrial rents, according to a new report.
Asking rents for industrial space in Greater Boston rose 2.4 percent from the previous year as the sector demand for distribution and manufacturing space continues to far outpace availabilities.
Office rents are expected to decline by 14.3 percent in Greater Boston while retail rents drop 9.7 percent in 2020 as the two property sectors absorb the effects of the COVID-19 pandemic, according to a research report.