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2020 Q4 Industrial Viewpoint Report Boston Colliers

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2020 was a banner year for the Boston industrial market. There was 2.4 million SF of positive absorption in Greater Boston pushing vacancy down to a record low level of 8.2% overall at year end. Aggregate rents have held steady near the historic high $10 mark throughout 2020 with a healthy 4.1% rise in aggregate asking rents in the last 12 months.

Sustained demand is driving both build-to-suit and spec development in all submarkets. High-bay warehouse and GMP space are the top development types as e-commerce logistics and biomanufacturing set the pace for the industrial market.

Greater Boston industrial saw high leasing and sales activity throughout 2020 and the robust demand pipeline looks to carry that momentum through 2021. Ever improving market fundamentals have bolstered industrial as a premier asset class in the region with Greater Boston providing stability and opportunity for investors and developers going forward.

 

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2020 Q4 Industrial Viewpoint Report Boston Colliers

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Aaron Jodka

National Director of Capital Markets Research

Boston

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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