I-495 Leads Industrial Real Estate Market Down
Areas along the southern and westernmost reaches of Interstate 495 are taking the most severe hit as the market for warehouse properties dries up, according to Boston-based commercial real estate firm Richards Barry Joyce & Partners.
According to an RBJ report on industrial properties, warehouse vacancy increased by 0.4 percent to 16.2 percent in greater Boston during the fourth quarter. During that time 236,000 more square feet went vacant than became occupied. The vast majority of that newly vacant space was along I-495.
Two of the larger vacancies are the 104,000 square feet that sporting goods company Brine vacated in Milford and the 96,000 square feet in Franklin vacated by trucking company McLane.
Warehouse and Manufacturing vacancy stands at 17.3 percent along I-495, RBJ reported.
WBJ Web Partners
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