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2020 Q1 Industrial Viewpoint Report Boston Colliers

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The month of March has seen the global economy reacting to the current COVID-19 pandemic leading to uncertain economic times both locally and abroad. The shock to markets as well as the near halt in retail activity has resulted in a dramatic shift in day-to-day life as businesses and schools close, while governmental restrictions on public spaces have impacted life locally and abroad. The U.S. markets and Boston are currently in a holding pattern waiting to see the full impact of the current situation. A recession appears imminent though largely a result of planned and deliberate closures and lay-offs, time will tell how quickly we recoup losses and regain business as usual when the storm passes.

Despite the drop off in activity for the month of March, the Greater Boston industrial market posted strong numbers for Q1 seeing over 1 million SF of positive absorption, vacancy to a new five year low of 8.8%, and healthy rent growth. The primarily suburban development pipeline has continued to progress as Governor Baker promotes a continuation of construction in the state. Boston’s well diversified industry make up, the uptick in e-commerce volume, and the market’s strong fundamentals all bode well for the Greater Boston industrial market on the back end of this downturn.


2020 Q1 Industrial Viewpoint Report Boston Colliers


2020 Q1 Industrial Viewpoint Report Boston Colliers

2020 Q1 Industrial Viewpoint Report Boston Colliers

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Aaron Jodka

National Director of Capital Markets Research


As Director of Research | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Aaron promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events.

Aaron collaborates with every team at the firm and wears many hats: in-house economist, advisor, consultant, thought leader, strategic business analyst, presenter, and, of course, researcher. He connects with various industry experts within the Colliers organization to provide a customized solution for each client.

With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions.

Before joining Colliers, he spent 11 years with Property & Portfolio Research (PPR), now CoStar Portfolio Strategy. There, he advised institutional clients on their commercial real estate investment strategies across property sectors and also spoke at industry events, quarterly CoStar webinars, and in front of client audiences. Aaron also led and directed a team of economists who monitored property markets across the United States. Near the end of his tenure, he helped establish a new business unit at CoStar, leading in the hiring, training, and coaching of a team of 50 market analysts. 

Outside of the office, Aaron can be found cheering on his children at their extracurricular activities. He also enjoys hiking, travel, relaxing at home or at the lake, or plugging away at one home project or another. Last but not least, he's an avid fan of Boston sports teams.

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