The Greater Boston Industrial market is quickly becoming one of the strongest in the nation and continued to build momentum at a record-setting pace in the second quarter of 2021. Almost 1.5 million sq. ft. of positive absorption was recorded in the second quarter and 2.7 million sq. ft. year-to-date, highlighting the explosive growth in the region. Asking rents continued to rise quickly, finishing the quarter at $10.53 per sq. ft. NNN. The availability rate declined by 120 basis points (bps) quarter-over-quarter to 4.7%, while the vacancy rate dropped by 90 bps quarter-over-quarter to 2.5%.