Rents are above $40.00 PSF, vacancy is below 4 percent for Class B space, but the good news is the Innovation District is humming. Companies are willing to pay a premium to be located among their technology peers; as it pertains to recruiting, applicants would much prefer to be there than outside the city.
A Banker & Tradesman report, quoting the Boston Redevelopment Authority, states “in the past three years, more than 200 new companies and 4,000 new jobs have moved to Boston’s Innovation District.”
The article also notes that technology companies are leading the charge, accounting for 30 percent of the area’s new job growth.
For more insight, jump over to Banker & Tradesman’s coverage of the growth of Boston’s Innovation District.