News:
Construction Design & Engineering
Posted: August 19, 2016
Encompass releases Steel Boston Industrial real estate report
Boston, ma Encompass Real Estate Strategy Inc. released Steel 2016.2, the company’s report covering Greater Boston’s commercial industrial real estate market for the second quarter of 2016. The report can be accessed by clicking https://ecs.re/steel20162.
Tenants in Greater Boston’s industrial real estate market exhibited strong demand patterns as 338,000 sf was absorbed across both manufacturing- and warehouse-type properties for the quarter-ended June 30, 2016.
Vacancy for the property types dipped to 7.5% from 7.8%, extending a 12-year low mark which was first set last quarter. Positive demand activity was, however, fully concentrated in warehouse-properties, which saw 360,000 s/f of absorption.
“Demand remains robust for high quality assets across both the manufacturing and warehouse property sectors” said Brendan Carroll, director of intelligence, who went on to emphasize lower observed vacancy rates for better quality assets across both property sectors. Carroll went on to allude to the diverse nature of demand for manufacturing space in the region “we are seeing demand for high quality manufacturing space from the biotechnology industry spur new construction.”
This quarter’s “OTB” feature focuses on the Panama Canal expansion project, the first major expansion of the canal since it opened in 1914, which was completed this year and opened to ships in June. The canal is expected to have a major impact on logistics and to change demand for ports on the coasts of the United States, including Boston, which will be able to handle ships that can navigate the new, larger canal locks.
Steel 2016.2 is a member of the Spectrum family of reports, greater Boston’s leading resource for commercial real estate information and analysis. With more than a dozen materials published on a quarterly basis, Spectrum is the thought leader in Greater Boston real estate research and analysis.
MORE FROM Construction Design & Engineering
Timberline Construction Corp. completes renovations for Neurology and Infusion Center of New England
Foxborough, MA Timberline Construction Corp. (Timberline) has completed a 20,000 s/f healthcare construction project for the Neurology and Infusion Center of New England at 18 Washington St. The full interior renovation transforms an existing two-story medical office building into a purpose-built outpatient care environment that doubles the center’s clinical footprint, expands services and positions the growing practice for its next chapter.
.jpg)
Columns and Thought Leadership
It’s time to lead: Confronting mental health in construction - by David Watts
As we close Mental Health Awareness Month, we must be clear: May isn’t just about ribbons, hashtags, or lunchtime mindfulness apps. It’s about responsibility to confront hard truths that linger in silence, and to challenge ourselves, as leaders in our industry, to do more.
Navigating tariffs and material uncertainty in today’s construction market - by Karl Ginand and Tiffany Gallo
As headlines around tariffs seem to dominate the news daily, many considering construction projects have anticipated major cost escalations and widespread supply issues. While tariffs haven’t driven pricing spikes to the extent once feared, the lasting impact has been a new layer of uncertainty, affecting more than just budgets.
Greenwood Credit Union City Hall Plaza nears completion - by Frank Picozzi
After several years of planning, construction, and anticipation, the community is eagerly awaiting the opening of the Greenwood Credit Union City Hall Plaza and outdoor skating rink later this month.
ABC-Mass. chairman’s message: Rent control isn’t the answer to our housing crisis - by Luiza Mills
As you may know, Massachusetts voters will be weighing in on a number of ballot initiatives in November. Among them is a proposal to impose the nation’s strictest statewide rent control policy. I’d like to tell you why the ABC MA Board