The deal is indicative of the area's industrial market where warehouse and distribution space is in high demand, especially in the city or in areas close to the city. According to Spaulding & Slye Colliers' most recent statistics, the overall availability rate for industrial space in Greater Boston is 19.2%, but many industry experts note that it is older, non-modernized spaces that are behind many of those vacancies. The average asking rent for industrial space in Greater Boston is $6 per sf.
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