The Cubes at Plainville will feature a 36-foot unobstructed warehouse ceiling height, early suppression fast response sprinklers, 126 dock doors, 361 auto spaces and 145 trailer spaces. CRG’s parent company, Clayco, will lead construction on the project, and subsidiary Lamar Johnson Collaborative will serve as architect. The project cost has not been disclosed.
Demand for warehouse space, and a consummate rise in warehouse rents, has taken hold across the country, owing to the rise in e-commerce accelerated by the COVID-19 pandemic. Vacancy rates are at a record low of 4.5% in the second quarter of 2021 and asking rents have risen 6.8% year over year from July 2021. As of the third quarter of 2021 the Boston industrial market’s asking rents have risen 11% year over year, and its vacancies match the national level at 4.5%, according to Newmark.
