Cbre houston industrial market report
Cbre houston industrial market report. 8 million square feet proposed or in the final planning stage. page 7 Houston industrial insights | Q4 2023 Source: AVANT by Avison Young 1. 05 per sq. 5% and recording a 50 basis point (bps) increase since Q4 2023. Industrial Figures Q3 2023 report. Suburban expansion continued to drive development, with the most active submarkets being Katy, The Heights Mar 7, 2022 · Welcome to CBRE’s H2 2021 Cap Rate Survey (CRS), which reflects the views of hundreds of professionals about how sentiment and pricing are changing across multiple dimensions of the commercial real estate market. 6%. Net Absorption Falls Amid Slowing Retail Activity. Almost 9. 25 per sq. 2023 concluded at 4. of positive net absorption. The 18-34 year-old age group comprises 25% of the population. 29 market-wide. Apr 17, 2024 · With 4. Land is constrained in parts of the market due to flood plain and hazard risk. 3 msf 10% 3. of industrial space was absorbed by occupiers during Q4 2022 bringing the annual total to 36. Established in 1980, the Oklahoma City office has developed an unparalleled commitment to customer service that suits the unique needs of each client. Industrial product continued to prove its resilience in the third quarter, as overall vacancy maintained a historical low of 4. Strong leasing activity over the last year caused vacancy to dwindle by 40 basis points (bps) quarter-over-quarter to 3. Jan 17, 2024 · CBRE's Q4 Triad Industrial Market Report found that at the end of 2023, construction deliveries raised vacancies while lease rates continued to grow. Developers continued to break ground on new projects in the face of rising vacancy. 5 million sq. CBRE is the local leader in commercial real estate. The Houston industrial vacancy rate fell by 60-basis points (bps) in the fourth quarter, ending the year at 3. - Tenant demand remained positive; however, it is unlikely to surpass the record levels of Leveraging CBRE’s fully-integrated, global services platform, our Dallas-Fort Worth professionals serve some of the most prominent companies locally and nationally on virtually every aspect of commercial real estate. Developers continued to respond to the ever-growing demand for bulk user space, adding 13 projects totaling nearly 1. April 08, 2024. With 131,357 square feet of net absorption, the third HOLLYFRONTIER. CBRE is the largest full-service commercial real estate services company in New England, combining the global resources and platform of CBRE with local management, control and ownership by the Mar 5, 2024 · The average cap rate increased from 6. Contact. , and an average rental rate of $1. Fax+1 704 331 1259. Stay informed and make informed decisions with our expert analysis and research. Demand pulled forward in the fourth quarter, pushing net absorption to more than 3. Apr 6, 2018 · Strong investment activity in Houston's industrial market has already taken place this year. in 2019. 2% in second quarter is more a result of new construction delivery and less due to tenant move-outs. View All Market Profiles. The primary capital composition for buyers in the first quarter was made up of 54% institutional investors, 31% private, and 11% REIT/listed. Apr 5, 2023 · The number of new deliveries is even higher in CBRE’s Q1 Houston industrial report, also released Wednesday, at 7. Mandel, Sofia @ CBRE Marketing. 0 million sq. Houston’s industrial market recorded 5. ‒There was over 6. Approximately 35. Phone +1 404 923 1299. 2% in Q1 to $13. 9 million sf, are under construction in the Greater Houston industrial market, according to CBRE. CBRE Group, Inc. The Fed will continue raising rates until it sees a marked reduction in inflation nearer to its 2% target. 185 Asylum Street CityPlace I 31st Floor Hartford, CT 06103. of net absorption in Q4, bringing the annual total to a staggering 16. Created Date. Our industry‐leading platform provides unparalleled service to meet Apr 9, 2024 · Philadelphia Metro Industrial Figures Report Q1 2024. Although, this reflects a 44% decrease Demand drove market fundamentals in Q4 2022 with over 2. 1% increase in warehouse or distribution centers over 200,000 sq. ‒The Atlanta industrial market witnessed the delivery of only 4. This result has taken Houston from nearly 93% occupancy, at its peak in 2020, back to almost 95% in Q4 of 2022. Our researchers’ work is complemented by the vast resources of our consulting affiliate, Delta Associates. The pace of rent appreciation for Class A space in the market, while still strong, decelerated compared to late 2021 and early 2022 as owners became less aggressive with About CBRE Group, Inc. Over 9. 2%. Stay informed, make better decisions. in 2021, landing the city as the market with the most growth nationwide. Explore. 94 million sq Jan 9, 2024 · In Q4 of 2023, Miami’s industrial market remained constrained, despite surpassing supply levels from previous years, as the direct vacancy rate increased to 3. May 13, 2021. 6% of all new construction that kicked off this quarter. 0% by the end of Q3–nearly an all-time low for the market. 1% at the end of 2022 to 3. Jun 27, 2022 · An expected rise in e-commerce's share of total U. From investment properties to corporate services and property management, we have earned a reputation as a respected leader in the local business community through our ability to track trends and build relationships. The overall market recorded Houston industrial market report Q4 2023. Recent reports by Dallas-based CBRE (NYSE: CBRE) and Chicago-based JLL U. Download our quarterly insights to learn about the basic fundamentals of the Houston office market as well as major activity impacting the market and an outlook for the near future. Substantial investment into Houston’s industrial market has delivered 23. Demand will primarily be driven by growing e-commerce sales, the improving economy, population migration and the need for onshore “safety stock” inventory to Download. Real Capital Analytics data reveals that Q1 2023 industrial sales volume in the Greater Houston region was $156 million. 8 CBRE's Portland, Oregon office has been serving clients since 1972, becoming a dominant player in the Portland commercial real estate market. This represented a 230 bps decline from 2021’s year-end vacancy of 6. That’s more than double the deliveries in Q1 2022. Dec 11, 2023 · The technology industry has seen the most HQ relocations since 2018 (135), followed by manufacturing (120). was absorbed over the fourth quarter of 2023, bringing the amount of industrial space absorbed in Dallas/Fort Worth since Q4 2010 to 298. Apr 9, 2024 · Download. Demographics. CBRE|Triad has released its Q3 2021 Industrial MarketView report for the Triad market. ft for the year. This absorption was down 32% from Q1 of 2022. FIGURES | HOUSTON INDUSTRIAL | Q4 2022 Houston industrial sets new market records in 2022 with highest year-end absorption 3. 13 in a new analysis of the nation’s top 25 life sciences markets from real estate firm CBRE. Pre-leasing activity remains lower relative to last year with 38. Dallas-Fort Worth (DFW) was the top market in North America for large-warehouse construction with 49. Apr 8, 2024 · Summary and analysis of Houston's current economic and office real estate market conditions. Absorption totaled 71,000 units in H1 2023, almost double our initial expectations. Leading industrial investment specialist Barbara Perrier CBRE offers the largest Industrial & Logistics platform in the world withunmatched access to transaction data, demographics and market intelligence. That’s more with double the deliveries in Q1 2022. , up from only 300,000 sq. 8 million sq. 3% from 2. 08, representing a -$0. New supply is . According to March data from CBRE, Houston experienced an 11. The industrial market continued to see the momentum from the beginning of the year with vacancy remaining stable at 5. CBRE Detroit is a full-service office featuring the core business lines of Brokerage, Corporate Services, Investment Property Sales, Project Management, Property Management, in-house Appraisal Apr 3, 2024 · HOUSTON – Due to the continued growth in the oil and gas industry, Houston’s industrial market continues to be one of the strongest in the nation, according to the third quarter report from CBRE. Scott Ryan. of net new projects breaking ground in Q2 2023. January 27, 2023. Apr 8, 2022 · Houston’s big-box industrial market is booming. 7 msf 27% 4. 1%, net absorption of 680,845 sq. of Q1 2024 leasing volume; fueled by early renewal activity and a clear trend of westward migration led by the energy industry. We build real advantage for our clients by leveraging our global network to deliver a platform of services that can't be matched. anticipated to remain elevated at sustained levels for the following . grocery sales to 21. In 2014, Get the latest Houston industrial real estate market reports on industrial properties in the Greater Houston Area. of gross absorption, marking the second highest quarterly total over the past 10 years. , nearly doubling the previous record set in 2021. ‒The total vacancy rate rose by 30 basis points (0. Labor costs and hourly wages continue to rise. Phone+1 614 224 1492. 6 million square feet of positive net absorption in the second quarter. NNN during Q1 2024. With more than 350 employees, including senior business leaders, CBRE provides Jan 9, 2024 · The trend of moderating rental rate growth continued in Q4 2023, with the national average rate increasing by 6. 9-million sq. 5 5. and is comprised of eight submarkets. New supply of life sciences real estate outpaced demand in many top U. Our industry-leading platform provides unparalleled service to meet any client requirement from brokerage services and real estate portfolio management to property management and investment sales. Weakening fundamentals and higher cost of capital will generally May 10, 2023 · In Q1 of 2023, the industrial market in the Greater Houston MSA had a strong showing despite some signs of weakness, with a net absorption of approximately 4. 0% year-over-year. Transwestern's market research team produces real estate market reports every month which highlight the health of the commercial real estate market. The finance industry represents the third highest (34). Houston’s industrial market recorded 6. 8-million sq. April 9, 2024 3 Minute Read. Supply and Demand. Sep 12, 2023 · Absorption of 228,000 units is expected in 2023, lagging the delivery of 350,000 units. 3%) to 0. Since opening its doors for business in 1985, CBRE's Detroit office has become the dominant player in the Detroit commercial real estate market. 92 per square foot NNN. Get an in-depth view of the US commercial property market with CBRE's up-to-date quarterly figures. With 194 million sq. 5% in Q2 2021 to 5. 30 per sq. In 2023, the majority of buyers comprised 91% private, 5% cross-border, and 4% institutional, while the majority of sellers included HOUSTON - Eighty-five industrial buildings, totaling 8. 0 4. Learn More. CBRE’s updated outlook is for annual absorption of 307,000 units this year, up from our earlier expectation of 228,000 units. 9% (± 2%). 1 percent of its inventory absorbed in 2021, according to a new report from CBRE. 0 Apr 5, 2023 · The number of add consignments is balanced higher in CBRE’s Q1 Houston industrial report, also approved Wednesday, at 7. 3 percent of that product was preleased as industrial demand continued to surge across the metroplex. 9 ‒Q1 2023 reported slowdown in overall market activity, creating discussions around shifting office trends across the Houston metro ‒Total leasing volume was suppressed in Q1 2023, showing a 39. 3% - from $16. Download. 8% Vacancy Rate 6. Apr 12, 2022 · INVESTMENT SALES TRENDS. of positive net absorption—triple 2020’s total. The construction pipeline grew again during Q4 2022 and totaled 76. 4-million sq. West Houston captured nearly half of the 1. This indicates a substantial 90% decrease compared to Q1 2022 sales volume of $1. Valuation Portfolio Services. of net absorption experienced in the first quarter, the Phoenix industrial market started 2024 strong. Availability increased by one percentage point to 9. Phone +1 860 525 9171. Developers continue identifying sites in Greater Houston’s west and northwest areas, leading to emerging development opportunities. 6 million sq. 5 7. Supply ramped up with over 22,200 deliveries, but is a relatively low 3% of total inventory. Nov 10, 2023 · At $5. Q4 2022 deliveries were just over 5. 2022 will be another banner year for industrial real estate On the heels of record transaction volume and rent growth amid extremely tight supply and high demand, the industrial real estate market will remain very strong in 2022. to $16. Considering the market uncertainties sparked by rising interest rates, new supply forecasts for later years have become more fluid. CBRE’s January 2024 U. Get Directions. 9 Apr 1, 2024 · The market consists of 218 million sq. The vacancy rate decreased 280 basis points annually from 8. In this episode, Chris Ludeman, Global President of Capital Markets, provides a quarter-end update on investor sentiment. Increasing construction labor costs are a major challenge facing the industry. The CRS captures 3,600 cap rate estimates across more than 50 geographic markets to generate key insights from a wealth of data. Our relationship with global industrial and logistics occupiers affords us adistinct advantage that benefits our investor clients. That’s more than Apr 12, 2024 · Industrial asking rents increased 1. 8% during Q1 2023, as reported by Kastle Systems ‒Sublease availability remains elevated with a total of 7. 5 msf 33% Jan 19, 2023 · The increase in demand for space continues to spur new development with 33. 1% expected, second to only DFW. Apr 4, 2024 · Houston office contractions and relocations to upgraded space contributed to negative net absorption; primarily driven by Apache and Fugro. Texas has attracted the most HQ relocations (209), with 66 moving to Austin, 32 to Dallas and 25 to Houston. 00 per sq. of Leveraging CBRE’s fully-integrated, global services platform, our Houston professionals serve some of the most prominent companies locally and nationally on virtually every aspect of commercial real estate. 6 million square feet under construction and an additional 55. This report has been prepared in good faith, based on CBRE’s current anecdotal and evidence based views of the commercial real estate market. over the last year, including more than 7. 1 million sf of industrial space in 2014, according to CBRE's fourth quarter 2014 report. ORAc1-e Technologies MIDLAND SAN ANTONIO Valero. 8 million reported for Q1 2023. 4 million square feet of positive net absorption in the fourth quarter, pushing the year-end 2022 total May 23, 2024 · The volume of retail completions was down by more than 40% quarter-over-quarter, deliver just under 600,000 sq. Texas Industrial Report Q3 2022. multifamily investment volume will reach a record of nearly $213 billion in 2021 (year-to-date volume totaled $179 billion through Q3 2021), well above 2019’s level of $193 billion. 9%, mostly attributable to the completion of one large speculative project in Round Rock where 229,506 SF delivered unleased. Net absorption in Q2 totaled 1. years, with product expected to slow in 2026. Northern and Central New Jersey’s Class A average industrial rents ended the year at $19. of space under construction in 2021, according to a new report from CBRE. 1120 South Tryon StreetSuite 200Charlotte,NC28203. 2022 annual deliveries totaled just over 36. Media Contact. February 17, 2023. /Mexico land ports, facilitating $25 billion in trade per month or nearly 60% of all annual trade between the two countries. 0 0 4 8 12 16 20 Feb 21, 2024 · Houston multifamily reported positive absorption for 2023 – a total of 10,805 units, which is slightly below the 15yr average of 12,400. Being a key indicator of market health, leasing activity this quarter demonstrated the resilience of Greater Boston industrial assets to start 2023. 7%, a 60-basis point (bps) increase quarter-over-quarter. Average asking rates also declined amid continued tenant improvement allowances and concessions. 5 6. With the continued popularity of e-commerce and “next day” shipping, core demand under 150,000 sq. CBRE has been selected to With more than 130,000 professionals (including Turner & Townsend employees) in over 100 countries, CBRE is the global leader in commercial real estate services and investment. Vacancy climbed slightly to 8. of speculative development is currently under construction. In addition, rents should continue rising, supporting higher property net operating income (NOI) for most Rent Trends. Following four consecutive quarters of retail rent growth, the overall average net asking rent for retail in Houston ended Q1 2024 at $20. Fax+1 614 224 1767. , Houston is the ninth-largest big-box market in North America. In the Minneapolis Industrial market, there was 1. 9 million sq. life sciences markets in the fourth quarter, boosting the sector’s vacancy rate back toward pre-pandemic levels, according to a new report from CBRE. More than 7 million people live within 50 miles of the market core, with five-year growth of 5. With developer . 25. 4% from the prior quarter and 8. The metro recorded a total of 9. In comparison, Q1 2022 reported 3. Investment in the multifamily sector increased by 56% year-over-year to $63 billion in Q1 2022—the strongest first November 11, 2021. April 29, 2024. Investor Intentions Survey showed that investors remain optimistic about the future, anticipating recovery despite short-term volatility. For 2022, we expect at least a 10% increase from 2021 to $234 billion. With more than 130,000 professionals (including Turner & Townsend employees) in over 100 countries, CBRE is the global leader in commercial real estate services and investment. Apr 12, 2024 · Summary and analysis of San Antonio's current economic and industrial real estate market conditions. ‒While the direct vacancy rate of 7. , up 3. 2M SF Net Absorption 33. Charlotte. Of the 9. While capital continues to flow from both domestic and foreign sources, the Apr 14, 2021 · Houston’s booming industrial market appears poised to maintain its momentum this year as leasing volume continues to rise. 5 4. Figure 2: DFW Market Trailing 12 Months Absorption. of space, making it the U. Earlier this week, a subsidiary of Boston-based Stag Industrial Inc. Vacancy is down from 24% in H1 2023 to 19. ft. CBRE’s Indianapolis office is the only truly full-service commercial real estate firm in Indiana, and has been since its inception in 1981. 0M SF Delivered Construction Figure 1: Houston Industrial Market (Annual) Source: CBRE Research, Q4 2022. ft and were 35. 3% less than the 16. 6 billion. For more than 30 years, CBRE has been the dominant commercial real estate services provider within the Charlotte market. Emerging Industrial Markets: Laredo, Texas. Phone+1 317 269 1000. 0 percent and lease rates increasing to $4. 5 million square feet of new supply Indianapolis. Location Incentives. added in Q1 2023. Though inflation eased in late 2022, it was still running at more than 7%. Phone+1 704 376 7979. Skip Navigation Helping Texans make the best real estate decisions since 1971. 0 6. 7% in Q1 despite supply additions outpacing net absorption. An industrial big-box facility is a traditional warehouse or distribution center of at least 200,000 sq. NNN on a monthly basis. ’s eighth-most net absorption last year, at 9. Our Valuation Portfolio Services practice provides custom, streamlined solutions for multiple-property assignments. 7 million sq. S. Retailers took notice and shifted their expansion plans to Texas and Florida. This represents a 79% increase in absorption year-over-year and for the first time in a year, the quarterly net absorption exceeded the total sq. Apr 11, 2024 · Looking for a PDF of this content? ‒ In Q1 2024, the Greater Montreal Area (GMA) saw the availability rate continue to increase as several large bay listings became available on the market, reaching 3. 5M SF Under Construction 4. Email. Although CBRE believes its views reflect market conditions on the date of this presentation, they are subject to significant uncertainties and contingencies, many of which are beyond CBRE’s control. 1% year-over-year to $16. Moreover, 889,000 sq. Top big-box industrial growth markets for 2021 (credit: CBRE) “Houston’s pro-business Explore the latest insights and trends in the real estate industry with CBRE. 1%. VAS - Senior Vice President. Houston was named the top growth market in North America for large-warehouse leasing activity, with 11. Explore the 2023 North America Industrial Big Box Review & Outlook Report. 7% in H2 2023. In contrast, the most HQs have left San Francisco/San Jose (79), Los Mar 3, 2023 · Market Trends. New development was focused in Vancouver, Toronto and the Waterloo Region, which accounted for 79. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). 02 per sq. High interest rates and a recession will make 2023 a challenging year for commercial real estate. Author. With 34 offices throughout the country, we have local market expertise from coast to coast. 1 million sq. Apr 10, 2024 · Notably, only 11. 3 million sq. CBRE|Triad has released its Q1 2021 Industrial MarketView report for the Triad market. While the Greater Boston Metro benefitted from an unprecedented explosion in industrial demand in 2021 and 2022 as a direct result of pandemic-era e-commerce sales and supply chain concerns, the market witnessed a slight softening throughout 2023 and into the first quarter of 2024 as demand returned to equilibrium. 5% by 2025 from 13% in 2021 will drive demand for cold storage, particularly within the grocery distribution segment. 0 msf 30% 4. Life Sciences Real Estate Market Normalized in Q4 After Robust Growth of Previous Two Years. In 2022—despite widespread macroeconomic concerns—North American big-box industrial facilities saw record-low vacancy, unprecedented rent growth and significant new construction. The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. of new product across the Houston market. To put this number in perspective, this is larger than the entire industrial market of Denver. For the first time since Q1 2017, the national average rental rate recorded a quarter-over-quarter decrease, albeit a minor drop of just 0. Laredo is home to one of the busiest U. Mar 6, 2024 · Source: CBRE Research, CBRE Data Center Solutions, H2 2023. The Minneapolis industrial market—13th-largest in the country—totals 346 million sq. Larger users drove most of this absorption, with the top 10 leases accounting for 57% of gains. ’s 30th largest industrial market. 0% (prior to 2015 According to Costar, Houston, Dallas and Austin outpaced employees returning to the office faster than any other city across the U. 4 million sq. 7% in Q2 2022. multifamily sector saw strong momentum at the start of 2022, with robust demographic trends underpinning record leasing activity, rent growth and investment during the first quarter, according to CBRE’s latest report. The Reno industrial market ended Q4 2022 with a vacancy rate of 1. 29 NNN per sq. 3. Real Capital Analytics data reports quarterly industrial sales volume for Q1 2022 in the Greater Houston area at $449 million, down 25% from the amount in Q1 2021 at $597 million. Hartford. (NYSE: STAG) bought the 232,950 Jul 24, 2023 · The Houston industrial commercial real estate market continues to display steady activity and resiliency through the second quarter of 2023. Despite this, it had the U. 8888 Keystone CrossingSuite 1000Indianapolis,IN46240. As of Q2 2022, there was 3. of new construction delivered in Q1. CBRE Albuquerque has been the city's leader in commercial real estate services since we opened our doors in 1983. Over 45 years ago, CBRE became the preeminent provider of end-to-end real estate services in the Dallas-Fort Worth region. , with just under 1 million sq. 6% in the prior year. Apr 9, 2024 · Summary and analysis of Houston's current economic and industrial real estate market conditions. We serve as trusted partners, providing you with strategic advice and analyzing your portfolio to Feb 7, 2024 · The CBRE Construction Cost Index showed a decline in annual escalation compared to the record high 2022. 0 5. USAA'. Fax +1 860 987 4723. in the Northwest submarket. #1 Industrial Investment Sales. 8%. Near 26 million people live within 250 miles, with expected growth of 4. More than 200 professionals serve as trusted advisors for both owners and occupiers of commercial space The all-property average cap rate is expected to be 280-300 basis points (bps) higher than the 10-year Treasury yield during the first half of 2022, on par with the 290-bp average from 2013 to 2018, before narrowing to 250 bps in H2 2022. For the purposes of the report, CBRE tracked We predict U. brought to market. The industrial market continued to see the momentum from the end of 2020 with first quarter reporting 246,000 square feet of net absorption with the completion of speculative construction and strong tenant activity contributing. 7M sq. This is still higher than the industry pre-COVID average of 2-5% per year. , making it the country’s fourth-highest growth market (net absorption/existing inventory). Although not at the record pace of 2021 and the early half of 2022, the Greater Boston industrial market continued to benefit from quarterly leasing activity of more than 2. Apr 8, 2024 · This is 20. CBRE’s data containing see industrial buildings 50K SF and greater in size, while JLL’s report analyzes leases and buildings of 20K SF or greater. 4% decrease from Q4 2022 ‒Houston office occupancy reached a post-COVID high of 71. 33 change from Q4 2023. 3 million square feet. 0% decreased slightly quarter-over-quarter, it experienced a Senior Director, Valuation & Advisory Services. Houston was the top big-box growth market (net absorption/existing inventory) in 2021 at 11. 4% to 7% in H2 2023, with expansion across multiple property types. Title. , Kansas City offers one of the lowest overall asking rents of the thirteen industrial markets tracked in CBRE’s Midwest U. 25 23 22. 1% thanks to nearly 22 million sq. The overall retail availability rate remained at 4. Logistics Drivers. - The average achieved lease rate declined slightly to $1. Mobile +1 770 363 8119. Local enterprise users are maintaining interest in the market. 8% in Q4; Savannah remains among the tightest industrial markets in the country. Midyear review. In the final weeks of H2 2023 signals from the broader capital markets and the CRS suggest higher yields may not last. of positive net absorption in Q1 2024. with just under 17. April 12, 2024 Download our quarterly insights to learn about the basic fundamentals of the San Antonio industrial market as well as major activity impacting the market and an outlook for the near future. The pace of industrial construction remains healthy with 6. of speculative cold storage development underway in the U. of negative absorption was recorded this quarter due HOUSTON - The Houston area absorbed a record-breaking 8. Fax+1 317 637 4404. The vacancy rate fell by 50 basis points in H1 2022 to 4. Serving growing populations, modernizing space for Jun 15, 2022 · Aided by a high percentage of PhDs and a low cost of living, Houston ranks No. 8M SF. For the third straight quarter, leasing activity Market Reports; Trending Topics The Weekly Take Podcast CBRE is the global leader in commercial real estate services and investment. of new product in Q1 2024, marking the lowest level since Q2 2023. The U. Explore Global Leadership Get in Touch. The rise in vacancy from 5. Get in Touch. Vacancy has fallen slightly from 3. CBRE Econometric Advisors expects that yields are near a peak level, although offices may face further upward pressure. 6% pre-leased. 7% during first quarter to 6. , and significant diversity of users, the Greater Boston industrial market has managed to withstand today’s economic and financial pressures. fy gm ad cb jp ja mm ak wk vj