Greater Boston, MA · Industrial Market Intelligence
Thinking About Selling Your
Greater Boston Industrial Building?
Before You List, Read This.
A data-driven guide to industrial property sales volume, pricing, and market cycle positioning across the top 10 Greater Boston industrial markets — built for owners evaluating their next move in 2026.
Market Overview
The Greater Boston Industrial Market in 2026
Boston's industrial market is in a correction phase after the historic 2021–2022 boom. Vacancy has risen to 8.9% — the highest in a decade — but pricing remains near record highs at approximately $200/SF, and institutional buyers remain active. For owners, the window to sell at peak pricing may be narrowing.
According to CoStar's Q2 2026 Boston Industrial Market Report, the market posted negative net absorption of (2.7M) SF in the trailing 12 months, driven by softness in logistics and flex space. However, specialized industrial — which includes manufacturing, R&D, and life science production facilities — posted positive absorption of +619,138 SF, demonstrating that demand remains strong for functional, purpose-built industrial assets. Wilmington, Woburn, and Billerica are the primary logistics hubs in Middlesex County, while Cambridge and Somerville command the highest prices per square foot for specialized industrial and flex assets.
The most significant recent transaction in Middlesex County was Brookfield Real Estate Investment Trust's acquisition of a 222,000 SF Amazon-leased warehouse in Everett for $155.4 million — approximately $700/SF — in Q1 2026. This transaction underscores the premium that institutional buyers will pay for fully leased, mission-critical logistics assets in the Boston market. For owners of well-positioned assets, the buyer pool remains deep and well-capitalized.
— Jeremy Cyrier, CCIM, CRE | President, MANSARD
Market Cycle Intelligence
Where Boston Industrial Sits in the National Cycle
The Mueller-Chacon Real Estate Market Cycle Forecast places the Boston industrial market in Phase 3 (Hypersupply) — a correction from the historic 2022 peak, but not a collapse. Understanding this cycle position is critical for owners evaluating timing.
The U.S. industrial market is in Phase 3 (Hypersupply) as the 2020–2022 construction boom delivers new supply into a softening demand environment. Vacancy rates are rising nationally, rent growth is decelerating, and net absorption has turned negative in many markets. The cycle peak was Q2 2022 when vacancy hit a historic low of 3.7% in Boston.
Boston industrial is in Phase 3 alongside the national market, but the correction is moderated by Boston's structural supply constraints and premium pricing. Vacancy has risen to 8.9% from a trough of 3.7% in 2022 Q2, but pricing at ~$200/SF remains well above the national average of ~$152/SF. Vacancies are projected to peak near 9.5% before stabilizing.
| Metric | Boston Industrial | National Average | Trend |
|---|---|---|---|
| Overall Vacancy Rate | 8.9% | ~7.8% | Rising — 100+ bps above national |
| Logistics Vacancy | 8.8% | — | Softening |
| Specialized Industrial Vacancy | 5.4% | — | Tight — positive absorption |
| Flex Vacancy | 11.9% | — | Highest segment |
| 12-Month Net Absorption | (2.7M) SF | Mixed | Negative overall; spec. industrial positive |
| Market Asking Rent Growth | 1.8% | 1.4% | Decelerating from 9.4% peak (2022 Q2) |
| Avg Sale Price/SF | ~$200 | ~$152 | Near record high |
| Avg Cap Rate | 7.0% | 7.3% | Slight expansion expected |
| Sales Volume (TTM) | $2.3B | — | Above $1.5B historical avg |
| Cycle Phase (Mueller-Chacon) | Phase 3 — Hypersupply | Phase 3 — Hypersupply | Correction from 2022 peak |
Sources: Mueller-Chacon Real Estate Market Cycle Forecast, Q4 2026 [1]; CoStar Boston Industrial Market Report, Q2 2026 [2].
Sales Velocity Data
Industrial Transaction Volume by Town, 2017–2026
Total recorded industrial sale price volume and average sale price per square foot across the top 10 Greater Boston industrial markets, 2017 through YTD 2026.
| # | Town | Total Vol | Avg $/SF | YTD 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | Vol | $/SF | ||||
| 1 | Wilmington | $764.8M | $187 | $12.9M | $189 | $107.8M | $300 | $116.7M | $238 | $57.0M | $253 | $3.0M | $91 | $202.7M | $199 | $149.9M | $354 | $68.6M | $107 | $21.6M | $76 | $24.7M | $65 |
| 2 | Woburn | $539.2M | $205 | $30.4M | $301 | $69.9M | $259 | $59.1M | $218 | $18.0M | $186 | $168.0M | $285 | $66.2M | $200 | $62.4M | $133 | $30.2M | $284 | $17.3M | $102 | $17.8M | $86 |
| 3 | Cambridge | $347.8M | $521 | — | — | $20.0M | $428 | — | — | — | — | $2.0M | $412 | $108.6M | $627 | $61.0M | $634 | $5.2M | $523 | $50.0M | $324 | $101.0M | $696 |
| 4 | Somerville | $247.8M | $407 | — | — | $14.3M | $257 | $2.1M | $775 | $3.3M | $358 | $9.8M | $159 | $44.1M | $385 | $82.0M | $427 | $34.3M | $622 | $7.2M | $466 | $50.7M | $215 |
| 5 | Billerica | $241.7M | $167 | $3.5M | $156 | $38.3M | $168 | $5.2M | $105 | $4.5M | $450 | $70.2M | $215 | $27.1M | $152 | $38.8M | $141 | $30.5M | $135 | $17.7M | $77 | $5.9M | $71 |
| 6 | Medford | $208.7M | $223 | $8.0M | $279 | $79.7M | $254 | $1.2M | $286 | — | — | $20.9M | $359 | $25.8M | $240 | $12.4M | $205 | $30.0M | $95 | $18.3M | $170 | $12.4M | $115 |
| 7 | Everett | $204.2M | $270 | $6.9M | $377 | $1.5M | $308 | $10.7M | $97 | — | — | $22.5M | $315 | $37.2M | $258 | $27.8M | $174 | $83.4M | $313 | $8.2M | $420 | $5.9M | $172 |
| 8 | Waltham | $204.1M | $340 | — | — | $26.2M | $277 | $4.5M | $200 | $12.8M | $213 | $26.0M | $296 | $45.3M | $290 | $54.1M | $810 | $30.0M | $337 | $1.5M | $468 | $3.7M | $173 |
| 9 | Malden | $145.7M | $208 | — | — | $22.4M | $292 | $18.1M | $138 | $23.4M | $352 | $28.6M | $256 | $17.4M | $208 | $19.1M | $175 | — | — | $10.8M | $111 | $6.0M | $132 |
| 10 | Lowell | $140.6M | $92 | — | — | $57.4M | $104 | $2.2M | $46 | $10.8M | $142 | $18.9M | $192 | $24.6M | $87 | $11.4M | $50 | $12.9M | $72 | $1.3M | $47 | $1.1M | $90 |
Vol = Total recorded sale price volume. $/SF = Average sale price per square foot (weighted by total SF sold). Transactions between $1M–$100M. Source: MANSARD Sales Velocity Data, 2017–YTD 2026. — indicates no qualifying transactions in that period.
Town-by-Town Analysis
Top 10 Greater Boston Industrial Markets
Rankings reflect total industrial sale price volume from 2017 through YTD 2026. Each market has a distinct buyer profile, pricing dynamic, and strategic opportunity.
Wilmington is the dominant industrial market in Greater Boston, positioned at the strategic I-93 and I-495 interchange. The $202.7M in 2021 volume reflects peak pandemic-era logistics demand. The market attracts major institutional buyers targeting last-mile and regional distribution assets. The $116.7M in 2024 and $107.8M in 2025 confirm continued deep liquidity.
Get a Wilmington Property Evaluation →Woburn is a premier Route 128 industrial market with consistent transaction activity across every year in the dataset. The $168.0M in 2022 volume — the highest single-year figure for Woburn — reflects peak institutional demand. Recent activity includes $69.9M in 2025 and $59.1M in 2024, confirming continued buyer depth in this submarket.
Get a Woburn Property Evaluation →Cambridge commands the highest average sale price per square foot in Greater Boston industrial at $521/SF — driven by its concentration of life science, biotech, and R&D manufacturing users who pay a significant premium for proximity to the Cambridge innovation ecosystem. The $108.6M in 2021 and $101.0M in 2017 reflect deep institutional demand for specialized industrial assets here.
Get a Cambridge Property Evaluation →Somerville's urban industrial market benefits from its proximity to Cambridge and Boston, commanding $407/SF on average — the second highest in the county. The $82.0M in 2020 volume reflects strong pandemic-era demand for urban last-mile and flex industrial space. The Assembly Row corridor continues to attract life science and advanced manufacturing users.
Get a Somerville Property Evaluation →Billerica is a major I-495 industrial market with a deep base of defense, technology, and logistics tenants. The $70.2M in 2022 volume reflects strong institutional demand at the cycle peak. The market has maintained consistent activity with $38.3M in 2025, confirming continued buyer interest in this well-established suburban industrial submarket.
Get a Billerica Property Evaluation →Medford's inner-suburban industrial market benefits from its proximity to Boston and Cambridge, attracting urban last-mile logistics and specialized industrial users. The $79.7M in 2025 is the highest single-year volume for Medford in the dataset, signaling strong recent buyer demand. The market commands a premium over outer-suburban alternatives at $223/SF average.
Get a Medford Property Evaluation →Everett is home to one of the most significant recent industrial transactions in Greater Boston: Brookfield REIT's $155.4M acquisition of a 222,000 SF Amazon-leased warehouse at approximately $700/SF in Q1 2026. While that transaction exceeded the $1M–$100M dataset range, it confirms that Everett commands institutional-grade pricing for well-leased logistics assets.
Get an Everett Property Evaluation →Waltham's industrial market is dominated by high-value flex, R&D, and specialized manufacturing assets along the Route 128 technology corridor. The $54.1M in 2020 at $810/SF reflects the premium that life science and biotech tenants pay for purpose-built industrial space in this submarket. The $45.3M in 2021 and $26.2M in 2025 confirm consistent buyer activity.
Get a Waltham Property Evaluation →Malden is an urban last-mile industrial market with consistent transaction activity and a growing profile among institutional buyers seeking Boston-proximate logistics assets. The $28.6M in 2022 and $23.4M in 2023 reflect sustained demand through the market correction. The $22.4M in 2025 confirms continued buyer interest in this well-located submarket.
Get a Malden Property Evaluation →Lowell offers the lowest average sale price per square foot in the top 10 at $92/SF, making it the most accessible entry point for value-add buyers and user-purchasers in the county. The $57.4M in 2025 — the highest single-year figure for Lowell — signals growing buyer interest in this I-495/Route 3 corridor market. MANSARD has direct experience in Lowell, having navigated complex zoning changes to deliver exceptional returns for industrial owners.
Get a Lowell Property Evaluation →Who Is Buying
Understanding the Buyer Landscape in 2026
The industrial buyer composition in Greater Boston has shifted since the 2022 peak, but the market remains well-capitalized and active.
Three Buyer Types Driving the Market
- Institutional Capital (40%): REITs, private equity, and pension funds targeting well-leased logistics and specialized industrial assets in Wilmington, Woburn, Everett, and Billerica. Brookfield's $155.4M Everett acquisition is the benchmark transaction.
- Private Capital (38%): Family offices and private investors pursuing value-add opportunities in Lowell, Medford, Malden, and Waltham. Focused on lower-basis acquisitions with repositioning or lease-up potential.
- User-Buyers (15%): Manufacturing, life science, and logistics companies purchasing to control their operations and lock in long-term cost certainty. Most active in Cambridge, Somerville, and Waltham for specialized industrial.
What Buyers Are Underwriting
- Stable Income: Fully leased or near-leased assets with creditworthy tenants command significant premiums. The Brookfield/Amazon transaction at $700/SF is the extreme example.
- Covered Land: Properties where the existing income supports the hold while the buyer explores alternative use potential — particularly in Cambridge, Somerville, and urban Middlesex County markets.
- Value-Add / Lease-Up: Vacant or partially vacant assets at a discount to replacement cost, where buyers underwrite a lease-up to market rents. Most active in Lowell and outer I-495 markets.
MANSARD Strategy
We Don't Start With a Listing.
We Start With Strategy.
The Boston industrial market is at an inflection point. Pricing remains near record highs, but vacancy is rising and the window to sell at peak conditions may be narrowing. MANSARD helps owners understand exactly where they stand — and what to do about it.
- Know what your Greater Boston industrial property is worth today
- Identify the right buyers — institutional, private, or user
- Decide if selling, holding, or repositioning makes the most sense
- Build a strategy to maximize value before going to market
88.9% of MANSARD's recent sales closed on-time and at the client's accepted offer price. That outcome is determined before the property ever goes live.
Schedule a Pre-Sale Strategy Call
A short conversation can help you understand what your industrial property is worth, who the right buyers are, and how to approach a sale the right way.
Schedule a Pre-Sale Strategy Call Call (617) 674-2043Confidential. No obligation. No pressure.
Client Results
What Industrial Property Owners Say
"Taylor successfully sold two of my Southern NH industrial buildings for $14,000,000. I recommend Taylor with full confidence to anyone looking to sell their industrial property."
"Jeremy did a great job with the entire process. He is very smart and great at making everything go smoothly. I would recommend MANSARD for anyone looking to sell or rent commercial property."
"We used MANSARD to help us reposition and sell a suburban commercial building. They were fantastic, well read in the market place and helped us realize our projected returns. Would highly recommend their services."
Frequently Asked Questions
Greater Boston Industrial Market: Common Questions
Yes. Despite rising vacancy, the Greater Boston industrial market recorded $2.3 billion in sales volume in the trailing 12 months — above the historical average of $1.5 billion. Institutional buyers accounted for 40% of transactions, and pricing at approximately $200/SF remains near record highs. Properties with stable income, creditworthy tenants, and strong locations continue to trade at premium pricing.
Wilmington leads all Greater Boston towns with $764.8 million in total industrial sales volume from 2017 through YTD 2026, driven by its position as a major logistics hub at the I-93 and I-495 interchange. Woburn is second at $539.2 million, anchored by Route 128 industrial demand. Cambridge commands the highest average sale price per square foot at $521/SF, reflecting the premium for life science and R&D industrial assets.
According to CoStar's Q2 2026 Boston Industrial Market Report, the overall vacancy rate is 8.9% — the highest in a decade and more than 100 basis points above the national average. Flex space leads at 11.9% vacancy, while specialized industrial is the tightest at 5.4%. Vacancies are projected to peak near 9.5% before stabilizing as the construction pipeline slows.
The market is at an inflection point. Pricing remains near record highs at approximately $200/SF, but vacancy is rising and the window to sell at peak conditions may be narrowing. The right answer depends on your specific asset, its tenancy, its location, and your financial goals. MANSARD's Pre-Sale Strategy process is specifically designed to help you answer these questions before committing to any path.
Institutional buyers (REITs, private equity, pension funds) account for 40% of transactions, private capital represents 38%, and users account for 15%. The largest recent transaction was Brookfield REIT's $155.4M acquisition of an Amazon-leased warehouse in Everett. For smaller assets, private capital and user-buyers are the most active, particularly in value-add and lease-up situations.
MANSARD's process begins with a confidential Pre-Sale Strategy Call — no obligation, no pressure. From there, we conduct a Strategic Asset Evaluation: we evaluate your asset, its performance, and its position in the Greater Boston industrial market. We identify the likely buyers and how to position your property to create demand. This approach is why 88.9% of MANSARD's recent sales closed on-time and at the client's accepted offer price.