Industrial facilities ranging from 100,000 to 249,000 square feet in Greater Boston experience a rise in their share of leasing activity

• Within the current Greater Boston industrial market, facilities ranging from 20,000 to 99,000 square feet have emerged as its primary drivers, showcasing a gradual increase in leasing activity share. This figure has surged from 38.9% to a four-year high of 68% in Q1 2024.
• Conversely, larger industrial facilities sized at 250,000 square feet and above have witnessed a consistent decline in their leasing share over the past five quarters. This trend culminated in a 31.1% decrease when comparing Q1 2023 to Q2 2024 (QTD).
• Looking ahead to the remainder of 2024, Avison Young anticipates both small-bay and mid-sized industrial properties to continue dominating leasing activity. Occupiers are increasingly prioritizing cost efficiency, especially amidst right-sizing efforts.

Source: AVANT by Avison Young, CoStar